⚙️How Eonian Works
Last updated
Last updated
Our decentralized savings account protocol allows you to save your tokens inside of the Vault smart contract. The Vault, in response, gives you an insured version of your coins, which equals 1-to-1 your original coins. They represent your ownership of assets. You can unwrap them back or send them to another wallet at any moment without any fees or locks from our side.
While you holding these coins, they grow in relation to your original coins. This means that the longer you hold them, the higher the amount you will be able to withdraw. This passive investment opportunity is called a savings premium.
While you hold your assets in Vault, they will be distributed between different lending protocols. These protocols give fully collateralized loans to crypto users. In exchange for these loans, users pay fees, which are then collected by our Vauls. This revenue is distributed back between the insurance pool and our protocol users.
This works as a collective security system. The revenue of total protocol liquidity that our protocol generates allows us to decrease risks and pay reimbursement for each of our protocol users in case of a hack.
When you will make your first deposit, dApp will ask you to provide an email. It will be used to restore access or confirm your identity in case of a wallet hack. If someone steals your private key or, in another way, steals your assets, you will be able to contact us from this email. We will lock your assets to save them from hackers. When the investigation is finished, you will create a new wallet that you can trust. We will transfer your existing assets and make reimbursements for what is lost.
You can read more info about the claim process here.
