0VIX is an open-source lending and borrowing protocol enhanced with veTokenomics. Through our native currency, we aim to provide Polygon users with steady and long-term yields. By giving the 3000+ app ecosystem with its first native money market, we hope to bring billions of dollars of liquidity to Polygon.
By locking away their veToken for a set length of time, Ovix allows users to increase their profits. This is a secure investment method that may be used by both major risk takers and safe bettors.
How does locking ovix work?
Locked ovix are a form of time deposit. You agree to lock your veOvix for a set period of time in exchange for a commensurate interest rate (for example, six months, 18 months, or years).
To reward you for that contract, ovix activates an automated mode of earning that should reward you more than simply holding veTokens in your wallet: you get a "higher annual percentage yield on the funds you deposit," similar to traditional fixed deposits made with centralised banks and financial institutions. You earn more since your veTokens can be utilized to create liquidity, and you still get equal chances to engage in DAO activities and vote, unlike these conventional banks.
When you decide to lock up your veTokens, you will customise how long you want to keep your token locked up. This time period can be referred to as the term, and common terms might include long or short terms, depending on your choicest preferences. Longer durations, on the other hand, allow users to earn more.
As your safe-lock period or maturity time approaches, ovix will alert you, much as traditional centralised financial institutions. This leaves you with the option of choosing your next course of action and what you want to do with your veTokens and safe-lock interests from the ovix chain of alternatives. The safe-lock continues if a user chooses to do nothing, which is the majority of the time.
