Based on Liquity, Vesta Finance is a layer 2 lending protocol that allows users to obtain liquidity against their collateral without paying interest. Users can lock up collateral and issue Vesta's stablecoin VST to their own Ethereum address, and subsequently transfer those tokens to any other Ethereum address. The individual collateralized debt positions are called vaults. The stablecoin tokens are economically geared towards maintaining value of 1 VST = $1 USD, due to the following properties: The system is designed to always be over-collateralized - the dollar value of the locked Ether exceeds the dollar value of the issued stablecoins. The stablecoins are fully redeemable - users can always swap $x worth of VST for $x worth of the underlying collateral (minus fees), directly with the system. The system algorithmically controls the generation of VST through a variable issuance fee. After opening a vault with some collateral, users may issue ("borrow") tokens such that the collateralization ratio of their vault remains above 110%. A user with $1000 worth of underlying collateral in a vault can issue up to 909.09 VST. The tokens are freely exchangeable - anyone with an Ethereum address can send or receive VST tokens, whether they have an open vault or not. The tokens are burned upon repayment of a vault's debt. The Vesta system regularly updates the price of the collateral against USD via a decentralized data feed. When a vault falls below a minimum collateralization ratio (MCR) of 110%, it is considered under-collateralized, and is vulnerable to liquidation.
$0.629147
-
- Rank #N/A
- Market Cap
0.00% $14,096,723
- 24H Spot Volume
0.00% $4.9628
- 24H Volume / Market Cap
-
- Circulating Supply
22,406,096.09
- Total Supply
100,000,000
- Max Supply
100,000,000.00
- Fully Diluted Valuation
$62,914,678
- API ID vesta-finance
- Project Start Date -
- Contracts & Explorer(s)
0xa68...a2d24
- Websites Website
- Links
About VSTA
VSTA is the governance token of Arbitrium-based Vesta Finance, a layer 2 lending protocol that allows users to obtain liquidity against their collateral without paying interest.
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