A selection of frequently asked questions by 0VIX users
Is 0VIX safe?
As with all DeFi Protocols, there are always elements of risk to interacting with cryptocurrency and platforms such as 0VIX. In the case of a Polygon-based protocol, the most pressing of these are smart contract vulnerabilities that may affect the platform and the liquidation risk faced by end users. No platform should be considered 100% safe. That said, 0VIX has been and continues to be extensively tested in order to mitigate risk and provide the UI necessary to protect user funds from undue loss. Smart contracts are reviewed thoroughly and risk assessments are conducted prior to additions to the protocol’s suite of services. Furthermore, a bug bounty program has now also been instigated to incentivize positive analysis of the protocol’s mechanics and infrastructure.
Where are my assets being stored?
Assets supplied to 0VIX are sent to smart contracts. Only users have access to and full control over their funds. It is essential, however, that users properly secure the private keys of the wallets used to interact with the protocol. Loss of private keys equates to loss of funds, as neither the protocol, nor the team behind it, have a means of retrieving access.
Where does the interest accrued by the suppliers come from?
Interest paid by borrowers is distributed to all suppliers of the same asset on a pro-rata basis.