Zero Interest Protocol

Zero Interest is a decentralized borrowing protocol with interest-free loans, high capital efficiency, and censorship-resistant stablecoins on Solana.

In summary, our protocol is designed after Liquity on Ethereum. It will incorporate two tokens; a stablecoin and a secondary token.

ROKS

  • USD-pegged stablecoin used to pay out loans
  • Can be redeemed any time against the underlying collateral at face value

VTT

  • Secondary token issued by Zero Interest Fi
  • Captures fee revenue generated by the protocol

Here are the major DeFi use cases:

  1. Borrow ROKS against SOL by opening a borrowing position called a "Trove"
  2. Secure the Zero Interest Protocol by providing ROKS to the stability pool in exchange for rewards
  3. Stake VTT to earn the fee revenue paid for borrowing/redeeming ROKS
  4. Redeem 1 ROKS for 1 USD worth of SOL when the ROKS peg falls below $1 (arbitrage)

Here are the advantages to bringing this to Solana:

  1. Our company will bring a new decentralized stable-value asset to Solana (in the form of our stablecoin ROKS)
  2. It will bring a best in class minimum collateral ratio of 110%
  3. The protocol is designed to be non-custodial, immutable and governance-free
  4. Due to low gas fees on Solana, we're able to have lower borrowing fees and higher APYs as we do not need to set aside a "liquidation reserve" like protocols do on Ethereum to mitigate fees
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