Topic: [ANN] VIGOR crypto-backed stablecoin on EOS (Read 497 times)
How about guarantee? Can we use another crypto? Like token in pre ico or in ico?
So the price is based on the dollar and does not depend on EOS Token prices, isn't it? Then we should return it using EOS token or we can using whatever we have as many as we have borrowed it?
you can use eos for borrow, if the eos price was 3$ at the time, then you can borrow 3 VIGOR stablecoin , collateral should be 1.11 from amount of borrow.
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the Vigor app is live on the jungle test net! come test it out and get familiar with the platform before it goes live on the main net here:
http://app.vigor.ai
join the VIGOR borrow and earn community! http://t.me/vigorstablecoin
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user deposits EOS tokens as collateral and borrows vigor stablecoin.
later can return the vigor stablecoin and retreive the EOS tokens.
the vigor stablecoin may trade on a dex near $1 because there may be confidence that there is always $1 worth of crypto held as collateral
So the price is based on the dollar and does not depend on EOS Token prices, isn't it? Then we should return it using EOS token or we can using whatever we have as many as we have borrowed it?
the website is not fully launch, our teams is TOP 21 custodians who getting vote what on their working on..
we will published all team image on website hopefuly after mainnet launch and getting ready to kick-start VIGOR project!
we will published all team image on website hopefuly after mainnet launch and getting ready to kick-start VIGOR project!
Oh, so the website hasn't been officially launched yet.
No wonder I found some errors on Vigor website.
I hope that this will be fixed soon with the composition of the team in this project.
the website is not fully launch, our teams is TOP 21 custodians who getting vote what on their working on..
we will published all team image on website hopefuly after mainnet launch and getting ready to kick-start VIGOR project!
we will published all team image on website hopefuly after mainnet launch and getting ready to kick-start VIGOR project!
Oh, so the website hasn't been officially launched yet.
No wonder I found some errors on Vigor website.
I hope that this will be fixed soon with the composition of the team in this project.
the website is not fully launch, our teams is TOP 21 custodians who getting vote what on their working on..
we will published all team image on website hopefuly after mainnet launch and getting ready to kick-start VIGOR project!
we will published all team image on website hopefuly after mainnet launch and getting ready to kick-start VIGOR project!
Oh, so the website hasn't been officially launched yet.
No wonder I found some errors on Vigor website.
I hope that this will be fixed soon with the composition of the team in this project.
Personal Question: Are u part of Project Development Team?
What I don't understand though is that there is no team profiles in the website.
the website is not fully launch, our teams is TOP 21 custodians who getting vote what on their working on..
we will published all team image on website hopefuly after mainnet launch and getting ready to kick-start VIGOR project!
if you need information, feel free to join vigor telegram, we provide everything you want to know on telegrm
Is the concept vigor stable coin only work in the platform and buyer just from the team or something else to keep the price not faling down or grow up? Still don't understand with the stable coin concept. 
Then how to return it??? And where to exchange vigor to our fiat??
Regards
Hyudien
Then how to return it??? And where to exchange vigor to our fiat??Regards
Hyudien
user deposits EOS tokens as collateral and borrows vigor stablecoin.
later can return the vigor stablecoin and retreive the EOS tokens.
the vigor stablecoin may trade on a dex near $1 because there may be confidence that there is always $1 worth of crypto held as collateral
The concept is almost the same thing with the Maker DAI. Its the smart contract that manages this peg. I'm not sure the tech details of this but as far as I understood half of the value of the EOS will only be the credited VIG stablecoin. ITs good to also have this project, must be needed for the future defi. What I don't understand though is that there is no team profiles in the website.
Is the concept vigor stable coin only work in the platform and buyer just from the team or something else to keep the price not faling down or grow up? Still don't understand with the stable coin concept. Then how to return it??? And where to exchange vigor to our fiat??
Regards
Hyudien
Then how to return it??? And where to exchange vigor to our fiat??Regards
Hyudien
user deposits EOS tokens as collateral and borrows vigor stablecoin.
later can return the vigor stablecoin and retreive the EOS tokens.
the vigor stablecoin may trade on a dex near $1 because there may be confidence that there is always $1 worth of crypto held as collateral
The concept is almost the same thing with the Maker DAI. Its the smart contract that manages this peg. I'm not sure the tech details of this but as far as I understood half of the value of the EOS will only be the credited VIG stablecoin. ITs good to also have this project, must be needed for the future defi. What I don't understand though is that there is no team profiles in the website.
I don't know if I really believe in projects that use the EOS platform, surely you all know that the Mycryptobank project was done in 2019, the project failed, why doesn't Vergo use Ethereum platform?
Oh come on, project got failed not because of the platform they use, it's all depends on how their team manages it. Just because you didn't not believe in EOS platform, don't think another person will think also like that, I'm sure there should be a good reason why he choose this platform. I have no Idea, can u give some suggest?
a third party escrow like the ones available in the forum is more reliable than their internal escrow at the initial phase of the project.
my question about 3rd party escrow is just a bit sarcasm question btw
Is the concept vigor stable coin only work in the platform and buyer just from the team or something else to keep the price not faling down or grow up? Still don't understand with the stable coin concept. Then how to return it??? And where to exchange vigor to our fiat??
Regards
Hyudien
Then how to return it??? And where to exchange vigor to our fiat??Regards
Hyudien
user deposits EOS tokens as collateral and borrows vigor stablecoin.
later can return the vigor stablecoin and retreive the EOS tokens.
the vigor stablecoin may trade on a dex near $1 because there may be confidence that there is always $1 worth of crypto held as collateral
I don't know if I really believe in projects that use the EOS platform, surely you all know that the Mycryptobank project was done in 2019, the project failed, why doesn't Vergo use Ethereum platform?
Is the concept vigor stable coin only work in the platform and buyer just from the team or something else to keep the price not faling down or grow up? Still don't understand with the stable coin concept. Then how to return it??? And where to exchange vigor to our fiat??
Regards
Hyudien
Then how to return it??? And where to exchange vigor to our fiat??Regards
Hyudien
I have no Idea, can u give some suggest?
a third party escrow like the ones available in the forum is more reliable than their internal escrow at the initial phase of the project.
my question about 3rd party escrow is just a bit sarcasm question btw
Now, the question is, how reliable is the escrow on both sides? How can they assess that trustworthiness of the escrow?
exactly, I guess it would be better if the developer teams also opened to the public the escrow wallet address if they act as an escrow.
else, if the escrow using 3rd party, then how to become verified escrow on this platform?
that is actually a good question. also, even if they put in public the escrow's address, how are you going to determine their honesty? that they will act as agreed. a third party escrow like the ones available in the forum is more reliable than their internal escrow at the initial phase of the project.
however, i don't think they will use such third party services as it will be additional burden for their implementation. also, if they have codenames only, are they going to disclose their addresses that contain their assets?
Now, the question is, how reliable is the escrow on both sides? How can they assess that trustworthiness of the escrow?
exactly, I guess it would be better if the developer teams also opened to the public the escrow wallet address if they act as an escrow.
else, if the escrow using 3rd party, then how to become verified escrow on this platform?
i would like to invited people from any country to help us try mvp3
VIGOR Stablecoin Tutorial on jungle testnet (MVP3) Dec 31, 2019
1 How to be an insurer and earn VIG
2 How to borrow VIGOR stablecoin
3 How to borrow EOS against stabelcoin (for short selling)
https://drive.google.com/file/d/1TFMOIGOl4WkaKmeAE4WmhrhOcULM7a4D/view?usp=sharing
Does the loan have certain conditions or other things that must be given to VIGOR?VIGOR Stablecoin Tutorial on jungle testnet (MVP3) Dec 31, 2019
1 How to be an insurer and earn VIG
2 How to borrow VIGOR stablecoin
3 How to borrow EOS against stabelcoin (for short selling)
https://drive.google.com/file/d/1TFMOIGOl4WkaKmeAE4WmhrhOcULM7a4D/view?usp=sharing
So what is the solution if the borrower does not return it? Are there any legal entities listed in the Vigor Project? Maybe my question is a little confusing but I really want to know about it because of course no one wants to lose money on both sides, the borrower and the lender, sorry I'm still too unfamiliar with the vigor project
There will always be some restrictions on borrowing VIGOR because if they will not put some sort of collateral, they will easily lose the business. And with this project, the collateral is EOS native tokens.
While the lenders, which I think, they call, Insurers, escrow EOS native tokens as their insurance assets-
Now, the question is, how reliable is the escrow on both sides? How can they assess that trustworthiness of the escrow?
i would like to invited people from any country to help us try mvp3
VIGOR Stablecoin Tutorial on jungle testnet (MVP3) Dec 31, 2019
1 How to be an insurer and earn VIG
2 How to borrow VIGOR stablecoin
3 How to borrow EOS against stabelcoin (for short selling)
https://drive.google.com/file/d/1TFMOIGOl4WkaKmeAE4WmhrhOcULM7a4D/view?usp=sharing
Does the loan have certain conditions or other things that must be given to VIGOR?VIGOR Stablecoin Tutorial on jungle testnet (MVP3) Dec 31, 2019
1 How to be an insurer and earn VIG
2 How to borrow VIGOR stablecoin
3 How to borrow EOS against stabelcoin (for short selling)
https://drive.google.com/file/d/1TFMOIGOl4WkaKmeAE4WmhrhOcULM7a4D/view?usp=sharing
So what is the solution if the borrower does not return it? Are there any legal entities listed in the Vigor Project? Maybe my question is a little confusing but I really want to know about it because of course no one wants to lose money on both sides, the borrower and the lender, sorry I'm still too unfamiliar with the vigor project
If you read their whitepaper you should see that they are using the same concept as MakerDAO with collateralized debt position. You get the stablecoin if you are collateralizing your EOS, the stablecoin is backed by real assets and the price gets maintained using it. But the problem is, why did the project only limit on EOS?
Right, actually it will be easier if it does not limit to EOS, but also accept other coins such as Bitcoin, Ethereum, and several other popular coins.
for your information, we have 2 diffrent token which named VIGOR & VIG.
Why did you make 2 coins? VIG & VIGOR
wouldn't it be easier to maintain utility and price stability if you only have 1 coin
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