In the real world, you can pawn electronic goods or gold to get cash. Now, in the blockchain world, crypto assets can also be pawned. One application that you should try is VYNDAO.
At MakerDAO, you can get loans in the form of DAI stablecoins worth US dollars by pawning other crypto assets, for example Maker (MKR) or Bitcoin (BTC).
So, on the Vexanium blockchain, there is VYNDAO which adopts MakerDAO-like principles. The difference lies in the crypto asset being mortgaged, namely VEX. With this VEX guarantee, you can get USDV, a stablecoin worth US dollars.
In our first trial at the editorial desk, by mortgaging 100 VEX, we got 0.20 USDV.
However, considering that this is still a beta version, of course USDV cannot be converted into rupiah on the crypto asset market. At least this is "evidence", as well as to show off the Vexanium blockchain.
"One of the advantages of VYNDAO compared to MakerDAO is its very cheap liquidation costs and does not charge fees , because it uses Vexanium blockchain technology which is famous for its DPoS ( Delegated Proof of Stake ) consensus ," said the Vexanium Team in a statement some time ago.
The Vexanium team also said that such a pawning application could reduce the risk when the value of VEX assets was weakening, because their value was shifted to USDV stablecoin.
"Apart from that, it can also be used to maintain asset value when it rises. If the asset value increases, we only need to make up for what we have pawned or pledged by returning the USDV value at the beginning of the mortgage, plus the pawning fee (if any), ”said the Vexanium Team.
