{"id":11064,"date":"2023-06-18T00:13:05","date_gmt":"2023-06-18T00:13:05","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=11064"},"modified":"2022-05-18T05:33:09","modified_gmt":"2022-05-18T05:33:09","slug":"what-is-vigor-vig","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-vigor-vig","title":{"rendered":"What is Vigor (VIG)?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-vigor-vig\/#vigor_and_eos\" >Vigor and EOS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-vigor-vig\/#history_of_vigor\" >History of Vigor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-vigor-vig\/#how_does_vigor_work\" >How does VIGOR work?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-vigor-vig\/#what_is_vigor\" >What is VIGOR?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-vigor-vig\/#what_is_vig\" >What is VIG?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>Have you ever heard of\u00a0<strong>Vigor<\/strong>? This project is a decentralized finance protocol that has developed a\u00a0<strong>staking and lending platform<\/strong>\u00a0oriented to the\u00a0<strong>DeFi<\/strong>\u00a0world and a stable cryptocurrency or\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/stablecoin-what-is\/\">stablecoin<\/a>.<\/p>\n<p><b>VIGOR\u00a0<\/b>is a DeFi platform under development on the<b>\u00a0EOS<\/b>\u00a0network. This DeFi platform aims to demonstrate the potential of this blockchain through the creation of a complete decentralized finance platform. The idea is that such a platform will offer new options to its users and users of other cryptocurrencies.<\/p>\n<p>&nbsp;<\/p>\n<p>The EOS blockchain is characterized as a highly scalable blockchain and has the ability to deploy\u00a0<strong>smart contracts<\/strong>. However, the\u00a0<strong>DeFi ecosystem<\/strong>\u00a0still lacks the necessary strength within EOS. One of Vigor\u2019s main goals is to<strong>\u00a0change<\/strong>\u00a0this situation. In this article we will tell you all about what Vigor is and how it works.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"vigor_and_eos\"><\/span><strong>Vigor and EOS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>VIGOR, as we mentioned above, is a decentralized finance protocol that has the ability to employ various collaterals with the goal of developing a complete ecosystem of financial tools using the\u00a0<strong>EOS blockchain.<\/strong>\u00a0From what we\u2019ve seen so far, Vigor is several things at once, but don\u2019t worry, we\u2019ll tell you all about it in more detail below.<\/p>\n<p>The first thing to know is that VIGOR is a\u00a0<strong>stablecoin<\/strong>\u00a0with a value anchored to the<strong>\u00a0US dollar<\/strong>. This coin has a<strong>\u00a0collateralized<\/strong>\u00a0operation system very similar to that of\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-makerdao-a-milestone-in-decentralized-finance\/\">MakerDAO\u2019s<\/a>\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dai-the-complete-guide\/\">DAI<\/a>\u00a0stablecoin. The VIGOR coin is the engine of the Vigor protocol and the rest of the\u00a0<strong>financial functions of the system are developed around this coin.<\/strong><\/p>\n<p>Among the financial functions offered on the platform are the option of saving, staking and\u00a0<strong>collateralized loans<\/strong>\u00a0in cryptocurrencies using the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-eos-a-strong-adversary-for-ethereum\/\">EOS<\/a>\u00a0token as the main protagonist.<\/p>\n<p>Vigor\u2019s operation is comparable to that of other\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-defi-o-decentralized-finance\/\">DeFi<\/a>\u00a0platforms such as those found within the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-eth-and-how-does-it-work\/\">Ethereum<\/a>\u00a0network. However, in this case the main blockchain makes the<strong>\u00a0difference<\/strong>. The EOS blockchain boasts great<strong>\u00a0scalability and capacity<\/strong>\u00a0to operate, so much so that it<strong>\u00a0outperforms the Ethereum network.<\/strong><\/p>\n<p>A curious fact that we should know is that in the EOS network, the highest transaction record was\u00a0<strong>3996<\/strong>\u00a0transactions per second surpassing<strong>\u00a0300 times<\/strong>\u00a0the highest record in the Ethereum network.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_908216221\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu%C3%A9-es-Vigor-VIG1.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG1.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG1-300x205.jpg 300w\" alt=\"Qu\u00e9-es-Vigor-(VIG)\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG1.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG1-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG1.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"history_of_vigor\"><\/span><strong>History of Vigor<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This project has its origins in<strong>\u00a02018<\/strong>\u00a0when its whitepaper was first published. This was a work carried out by\u00a0<strong>VIGOR\u2019s Genesis Custodians<\/strong>\u00a0in collaboration with their\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-dac\/\">DAC<\/a>\u00a0or Decentralized Autonomous Community or Decentralized Autonomous Community.<\/p>\n<p>&nbsp;<\/p>\n<p>The published\u00a0<strong>whitepaper<\/strong>\u00a0established the economic strategy to be followed by the project as well as the governance and functions of the VIGOR protocol. Following the publication of the white paper, the project began its development phase.\u00a0<strong>By December 15, 2020<\/strong>, the project had gone live with its first full version of the protocol. This is how VIGOR became\u00a0<strong>one of the first EOS DeFi platforms.<\/strong><\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_vigor_work\"><\/span><strong>How does VIGOR work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As mentioned above, Vigor is a protocol with multiple functions. These functions are controlled by several smart contracts that are mostly\u00a0<strong>written in C++,<\/strong>\u00a0a general high-level and widely known high-level computing language. These smart contracts control all the functions of the Vigor platform. Among these functions we can find:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>DAC or Decentralized Autonomous Community:\u00a0<\/b>this community carries out the governance of the protocol. It is made up of a total of 21 trustees who are elected from among the genesis trustees and the users elected by the community.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b><a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-blockchain-oracle\/\">Oracles<\/a>\u00a0system:<\/b>\u00a0the network oracles are in charge of interconnecting the real world with the markets and services offered within the Vigor network.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><b>Vigor protocol:<\/b>\u00a0in fact, this protocol is itself a function controlled by\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-smart-contract\/\">smart contracts<\/a>. This protocol includes other functions derived from it, such as\u00a0<strong>lending, staking<\/strong>, among others.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>We have just seen the three most important parts that make up the Vigor platform and that allow its operation to be carried out. All these parts pursue the same goal, which is to develop a\u00a0<strong>lending and\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-cryptocurrency-staking\/\">staking<\/a><\/strong>\u00a0system that revolves around the<strong>\u00a0VIGOR and EOS<\/strong>\u00a0stablecoin.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_1643195558\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu%C3%A9-es-Vigor-VIG3.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG3.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG3-300x205.jpg 300w\" alt=\"Qu\u00e9-es-Vigor-(VIG)\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG3.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG3-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Qu\u00e9-es-Vigor-VIG3.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h3><span class=\"ez-toc-section\" id=\"what_is_vigor\"><\/span><strong>What is VIGOR?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>At the core of Vigor we can find two coins, one is the VIGOR stablecoin and the other is VIG, the project\u2019s native token. Both coins were developed pursuing different\u00a0<strong>objectives<\/strong>.\u00a0<strong>These are the development of a decentralized\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/stablecoin-what-is\/\">stablecoin<\/a>\u00a0(VIGOR)<\/strong>\u00a0to attract EOS users to make investments in the platform and thus earn a certain percentage of\u00a0<strong>rewards<\/strong>\u00a0obtained by the protocol\u00a0<strong>loans<\/strong>. These profits are paid to the user in<strong>\u00a0VIG tokens<\/strong>. But this is not the only objective of the creation of both currencies, as it also seeks to develop a stable financial system that allows a reduction of the\u00a0<strong>risk of volatility<\/strong>\u00a0in lending systems applied by VIGOR.<\/p>\n<p>The VIGOR stablecoin was created with the objective of fulfilling certain characteristics. These are:<\/p>\n<p><strong>1. To be over-guaranteed.\u00a0<\/strong>That is, the stability offered by the stable coin depends on the over-collateralization used in its development. In this aspect the oracle system plays an important role, as they seek to offer the best possible collateralization ratio thus avoiding the volatility found in the crypto market.<\/p>\n<p><b>2. Protection against volatility events.\u00a0<\/b>Another important feature of Vigor\u2019s stablecoin is that its collateral is protected against volatility events, which maintains a balance in terms of debts, insurance and loans made within the system.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"what_is_vig\"><\/span><strong>What is VIG?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Now that we know the two tokens of the platform, let\u2019s take a closer look at the functions of the native VIG token. This token represents an important part of the protocol and its economic model. Some of its functions are:<\/p>\n<p>1. To be employed in<strong>\u00a0the governance of the protocol<\/strong>, in the payment of fees and in the rewards obtained by the users of the platform.<\/p>\n<p>2.\u00a0<strong>To be a reserve asset<\/strong>\u00a0within the protocol.<\/p>\n<p>3.\u00a0<strong>To be a deflationary issuance token<\/strong>\u00a0and contribute to\u00a0<strong>revaluation<\/strong>\u00a0over time. It should be noted that the issuance of this token is limited to one billion coins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Have you ever heard of\u00a0Vigor? This project is a decentralized finance protocol that has developed a\u00a0staking and lending platform\u00a0oriented to the\u00a0DeFi\u00a0world and a stable cryptocurrency or\u00a0stablecoin. VIGOR\u00a0is a DeFi platform under development on the\u00a0EOS\u00a0network. This DeFi platform aims to demonstrate the potential of this blockchain through the creation of a complete decentralized finance platform. The [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=11064"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7220"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=11064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=11064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=11064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}