What is MOV JieDai procedure?
The MOV JieDai procedure is a crypto possession rate procedure based upon the Bytom mainchain and Bytom layer2 sidechain Vapor. Just speaking, MOV really recognizes the financing service like a bank through rate algorithm design based upon clever agreement. Users can transfer, withdraw and providing to get interest. Naturally, various from the credit danger of conventional financing, Over-collateralized financing embraced by MOV can lower the danger of default on chain.
The benefits of MOV JieDai
Immediate obtain & repayment, instantaneous deposit & withdrawal
MOV is based upon the high-performance sidechain Vapor, which has an instantaneous verification. Depositors can withdraw the principal and interest instantly after transferring the coins, while the debtors can rapidly return the obtained coins and get security.
No on-chain trading charge, no deposit service charge
Compared to the loaning and financing on Ethereum, MOV does not charge any on-chain trading charges for loaning and transferring. At the exact same time, just 10% of the interest of the obtained coins is charged as a platform service charge, and the deposit is not charged any costs.
The world’s very first DeFi providing public auction tool
The world’s very first item user interface supports the auction of liquidation properties, decreasing the limit for usage, and common users can take part in, and the winners are chosen through a random algorithm to guarantee effectiveness and fairness.
Separation of JieDai swimming pool and security swimming pool to lower danger
The MOV JieDai swimming pool is separated from the security swimming pool, and the security swimming pool cannot be utilized for financing once again, which significantly minimizes the danger and avoids one swimming pool from impacting other swimming pools.
Where does the revenue originated from?
Like conventional financing, the revenue of users who transfer coins is offered by the interest of users who obtain coins. The JieDai swimming pool is designated according to the percentage of the coins transferred by each deposit user in addition to according to the interest. The variable rates of interest under various market supply and need conditions can be constructed through the sector function, which can flexibly react to severe scenarios.
Liquidation and Auction
MOV embraces the system of over-collateralized financing, and in severe cases, it can supply particular solvency by liquidating collateralized properties.
MOV sets a Liquidation line to identify whether to continue with the liquidation. By comparing the security rate and the Liquidation line, it sets the examination levels of safe, low-risk, high-risk, and triggers the user in time when a danger switch takes place.
When it reaches the liquidation line, the system will immediately auction the collateralized properties. Since the user has actually been advised through several systems prior to, it will no longer set a buffer duration however straight auction it.
MOV presents a random algorithm in the liquidation procedure, and the possibility of each bidder’s quote is equivalent. At the exact same time, through the margin system, destructive bidding is avoided.
It deserves pointing out that MOV will supply the very first easy to use auction user interface tool in the DeFi field. Common users can take part in the auction, and through a specific system to guarantee the exact same possibility and chance as API users, it will even more boost the auction efficiency.
MOV JieDai ensures the security of the system and user funds through over-collateralization, separation of the financing swimming pool and the security swimming pool, all-weather currency exchange rate tracking and danger management system.
Over-collateralization is a typical practice in the present DeFi financing organization. Since the blockchain has a specific degree of privacy, it is challenging to pursue liability for breach of agreement simply through credit financing. The present financing items such as AAVE and Substance will blend the security swimming pool with the financing swimming pool, that is, the user’s security will enter its matching financing swimming pool, and the security can continue to be utilized as a financing item. Although the effectiveness is enhanced, it likewise permits the system took more threats, and users returned the obtained coins however couldn’t return the security. MOV separates the 2, and the security is no longer provided as a financing properties, making sure that the debtor can get his security back instantly after payment.
MOV will keep an eye on the currency exchange rate in genuine time all the time, discover properties that reach the c liquidation line in time, and perform liquidation to guarantee enough funds in the financing swimming pool.
At the exact same time, MOV and SlowMist reached a tactical cooperation to collectively secure the security of MOV.
Compared to the existing financing items on Ethereum, MOV has natural benefits in regards to efficiency and expenses. At the exact same time, through development, it likewise has lots of intense areas in regards to liquidation and security. Through cross-chain, MOV likewise incorporates communities of BTC, LTC, DOT, supplementing non-Ethereum environment financing items.