0VIX is a money market protocol built on Polygon that enables anyone to lend and borrow assets.
0VIX consists of a decentralized system of lending pools. Users deposit assets they want to lend into a liquidity pool and borrowers draw from the pool when they want to take out a loan. 0VIX borrowers must first supply assets before they can borrow. Given the high volatility of crypto assets, borrowers must post more collateral than the value of the loan, commonly referred to as overcollateralization. Interest rates on 0VIX are driven by market supply and demand. To facilitate this activity, 0VIX issues oTokens to lenders that reflect accruing interest on the underlying token.
0VIX has not launched its governance token yet and there is currently no details on how the protocol generates revenue.
You earn lending fees on 0VIX by depositing your idle crypto assets to be used by borrowers looking for leverage. 0VIX also offers additional protocol incentives in its VIX token to bootstrap demand (to be launched).