Introducing Vires.Finance
Vires.Finance is a pool-based liquidity protocol facilitating lending and borrowing capabilities at rates defined by the market equilibrium.
Launched on July 21, 2021, Vires protocol has accumulated over 600M in total liquidity in less than 3 months. Today, $VIRES, the governance token of the protocol, has been generated.
As the system is evolving with more sophisticated participants joining the market, after the initial liquidity bootstrap incentivization, the VIRES token is being continuously distributed for participating in all markets both for borrowers and depositors.
For the next 3 months, a total of 100.000 VIRES will be distributed among depositors and borrowers. Each asset is set to share a part of the distribution stream in proportion to the asset’s total borrow. Each stablecoin is set to share the stream between borrowers and providers with a 50-50% ratio, Waves, BTC and ETH are to share their streams as 95% for deposits and 5% for borrows. This results in additional VIRES APR for depositors and also some compensation for borrowers. You can see the ⓥ APR next to each market/action respectively.After the governance bootstrap phase, these values will be decided through voting.
Last but not least: join forum.vires.finance to make proposals, participate in discussions and advocate for the future development of VIRES as you see it.
📰 INFO
