Vigor protocol (vigor.ai ) is a stable coin + lending platform on the EOS blockchain. The total value locked for now is around $900,000. The protocol aims to support minting stable coin “VIGOR” which = $USD 1 with different collaterals like EOS, USDT, pBTC and more to come, and the borrowing service of these tokens. The native token “VIG” is required for borrowing activities and can be used for the governance.
The advantage of Vigor protocol:
Comparing ETH Defis Vigor on EOS has 0 gas fee, so as long as you have staked enough EOS or borrow them from EOS REX you can freely operate on the EOS Defis like Vigor.
The minimum collateral ratio is only 115% (comparing with 150%) and the risk is buffered by the lending pools and the final reserve. Vigor is more friendly than DAI or other stable coin platforms with this feature.
The borrowing rate can be very low (1.8% APY) when the collateral ratio is high enough
The granted BNT tokens is suggested to be added to the Bancor pool together with VIGOR and VIG to create the corresponding VIGOR/BNT and VIG/BNT pools respectively. The distribution of the BNTVIGOR and BNTVIG LP tokens can be discussed, but an option is the LP tokens can be held by the Vigor DAC EOS account: dacholding11, which is multisig and require the agreement of DAC custodians to use this tokens. If Bancor community has a corresponding official EOS account it can hold part of the LP tokens. This liquidity can provide Bancor a gateway to the EOS ecosystem.
In my personal opinion, the BNT token should also be whitelisted in Vigor protocol and can be lent, borrowed and collateralized, provide more use cases of BNT on the EOS chain. Of course this should be approved by other DAC members and the BNT liquidity should be high in the EOS chain to support the activity.
The Vigor DAC are people coming from different parts of the world and are building the platform together as a team, and everyone can join by signing the constitution. There’re bi-weekly Zoom meetings and now we are starting to record it and post it on Youtube, and it’s all public so feel free to join and share you opinions, ask questions if you have any doubts.