Introducing Mavryk Finance test net On Tezos
Mavryk is a non-custodial DeFi platform with a variety of decentralized services. Lending, borrowing, yield farming, and staking will all be governed by a DAO once the platform goes live on the mainnet.
“Mavryk is DAO from day one and is based on a fully decentralized, transparent and collaborative governance structure.”
Borrow – Borrow
Lending allows users to earn returns by depositing their Tezos-based assets into lending pools that enable decentralized and over-collateralized lending.
Lenders receive mToken as long as their assets are deposited in loan pools. mTokens can be used to earn rewards.
On the other side of this service, users can borrow by depositing collateral in vaults.
Collateral can be in XTZ, but Mavryk also offers the option to use multi-asset backed vaults. This allows the collateral to be deposited in XTZ or other activated Tezos-based tokens.
As long as the value of the collateral remains above the required collateral ratio, any asset activated on the Mavryk platform can be used as collateral.
Yield farming and staking
Mavryk will offer yield farming for selected purposes. LP tokens from liquidity providers to select Tezos-based DEXs can be used in yield farms to earn MVK tokens in return.
MVK tokens are the governance tokens of the Mavryk platform. Mavryk’s decentralized oracles (called satellites) that provide data to the Mavryk platform must deploy MVK to participate in governance.
MVK tokens can be traded and stacked and delegated to satellites for voting.
DAO and on-chain treasury
Mavryk’s governance is fully controlled by the community via an on-chain DAO.
The DAO decides issues such as on-chain upgrades, withdrawing funds from the Treasury, adding and removing supported credit assets and collateral, updating/changing business decisions, and more.
The on-chain treasury system consists of a main treasury and sub-treasuries.
“The sub-treasuries will hold funds earmarked for this; R&D, investments, marketing, MVK buyback for oracles and farms, and a DAO validator fund. Additional treasuries will be added through core governance.”
test net
Mavryk has launched his testnet, which you can see here.
Of course, a testnet is not a mainnet application, so make sure you connect to a testnet wallet and use testnet tokens.
For more information, connect with Mavryk on Twitter, or discord.
lite paper
Detailed information about Mavryk can be found here in the Litepaper.
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