Vybe Litepaper
Vybe is a modular, decentralized finance protocol built on the Ethereum blockchain.
Vybe seeks to create an ecosystem which unites many of the distributed capabilities of Decentralized Finance while also solving some common friction points existing platforms struggle with. Two primary things will stand out about Vybe's ecosystem as implementation advances.
Today, the collection of Decentralized Finance projects have huge barriers for entry and utilization. Vybe sets out to build a platform for everyone to use; this means removing the large technical and financial barriers which limit access to other protocols and networks currently. In time, we will implement the tools, and the interfaces to leverage these tools, to not only solve classic centralized finance problems, but also provide access to anyone who finds a need for these tools. This will occur in a multi-phase development process for each given module. The module will be built, with a priority on quality code and robust security. Then, the interfaces to enables all users access will bridge the capability with ease of use.
Second, and equally essential to the future of Vybe, is building the platform so modules can be arranged any way to arrive at different, unique, and currently undiscovered capabilities. Vybe is working towards solutions that any one can benefit from - and more importantly - each solution can provide the door for more ideas and solutions from the Vybe core team and the Vybe community alike. This is the nature of modular development and is a key tenant to the design and future of Vybe's ecosystem. To further advance the flourishing of all ideas, Vybe has moved to a DAO - which we anticipate will drive funding for projects around the ecosystem to have adequate resources to reach their potential.
Modules are the building blocks of the Vybe ecosystem. They are different components like Flash Loans which can be stacked, ordered, and integrated with one another to build simple or complex chains of automated transactions.
Vybe is comprised of a growing number of primary components - simply referred to as modules.
Launched September 9 Vybe Loans are a cryptographically secure way to loan Vybe, where every loan is guaranteed to be paid back in full. There is no risk to any participants. When they're paid back, 1% interest is earned. This interest is burnt, directly contributing its value back to the ecosystem.
View the Vybe Loans smart contract To build your own custom contract and interact with Vybe Flash Loans, please follow the user guide below:
Planned Quarter 1 2021 To build on our loan system and enable access to one of the most compelling usages of DeFi that we have identified, we are hard at work developing our own take on Interest Rate Swaps. More information will be provided about our specifics as we near launch. Until then, we invite you to read more here.
Planned Quarter 2 2021 Escrow, which is under development, will allow users to create an escrow using any ERC-20 asset. • Any two parties will be able to transact (with an arbitrator to resolve any disputes). • 0.25% fee (paid in Vybe) will be applied and burned. This will deflate the Vybe supply making outstanding Vybe more valuable as well.
To learn about the upcoming modules, please visit the Current Development sect
Vybe is the underlying token of the modular Vybe ecosystem and will be 100% distributed to the community based on participation, with no pre-sale or pre-mint. Outstanding fractions of the token supply are held with the DAO and will be distributed according to community decision via the DAO.
View the Vybe Token contract
Token Name | Token Standard | Max Supply |
Vybe | ERC-20 | Not Fixed |
This information relates to a currently pending DAO proposal. To address staking loyalty, rewards must be counter-weighed in a fashion where they receive more rewards as their staking duration increases. We are going to accomplish this task by implementing a tiered loyalty program.
The loyalty program will serve as the foundation for more favorable terms within Vybe. Loyalty rewards will include an increased staking rate, Non-fungible tokens (NFTs), and lower loan interest. Loyalty Program participants will earn one NFT that they can choose to hold or apply towards a Vybe contract such as the lottery or flash loan interest.
Tier Name | Stake Duration | Stake Rate | Flash Loan Interest |
Silver | 1 Month | 5% | 1% |
Gold | 3 Months | 8% | 0.75% |
Platinum | 6 Months | 10% | 0.5% |
We will implement guidelines around the loyalty program to encourage participation, but we will not lock any staking funds or prevent anyone from withdrawing their stake. We will base these guidelines on allowing participants to increase their stake at any time without any impact on their stake duration.
Vybe's governance was fully transitioned to a Decentralized Autonomous Organization (DAO) on October 9, 2020.
The governance of Vybe has been transferred from the core Vybe team to the community. This decision and implementation was made to value Vybe holders as the key stakeholders of the modular Vybe project. View the DAO contract here
The DAO proposals are a primary distribution mechanism for Vybe tokens. This ensures those most interested and committed to Vybe reap the rewards as they build the ecosystem. The DAO is funded in a time-lock release fashion:
Date | Amount | Released |
October 2020 | 200,000 | Yes |
November 2020 | 300,000 | Yes |
December 2020 | 350,000 | Yes |
March 2021 | 350,000 | No |
June 2021 | 300,000 | No |
View the TimeLock Distribution contract here
The DAO's core functionality is broken into many functions - most critical are the New Proposal and Voting functions.
The Proposal functionality allows any Vybe holder to contribute ideas (proposals) for work to be done. Approved proposals will be funded from the DAO contract balance.
The Vote functionality allows any Vybe holder to contribute their input on an aforementioned proposal if they believe an idea is or is not a good use of resources for the future of Vybe.
For a proposal to complete and be accepted, there are varying thresholds:
Proposal Type | Threshold of Voting Weight | Solidity Snippet |
Fund Proposal | 1/2 of Weight + 1 |
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Remove Module | 1/2 of Weight + 1 |
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Add Module | 2/3 of Weight + 1 |
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Upgrade Staking Contract | 4/5 of Weight + 1 |
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Upgrade DAO | 4/5 of Weight + 1 |
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View the Solidity functionality here
For detail on how you can use the DAO, please visit the DAO User Guide:
