What is Vires?
Vires.Finance is a decentralized non-custodial liquidity protocol based on Waves Blockchain, where users, wallets, and dapps can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized manner.
What use Vires?
Vires.Finance utilizes common pool-based mechanics where all funds deposited participate in interest-bearing activities equally. Being based on Waves Blockchain, it utilizes extremely low fees(~only a few cents per transaction) making it highly attractive for both high and low volume deposits and loans.
How do I use the service?
In order to use the service, you simply supply your preferred assets. After supplying, you will earn passive income based on the market borrowing demand. Depositing assets allows you to borrow other assets by using your deposited assets as collateral.
Additionally, some tokens(for example, WAVES and USDN) are safely staked within the ecosystem to earn additional income for the depositors.
Where are my deposited funds stored?
Your funds are stored in a system of smart contracts. The code of the smart contract is public, open-source.
Is there any risk?
What is the $VIRES Governance token?
Owners of the governance token will be able to vote for system upgrades and parameter changes. The stakers of the token earn staking rewards and collect part of the fees from the protocol.