IV Architecture

Inception Vault Architecture

The Inception Vault is built on top of the existing Parallel protocol. It leverages and reproduces existing logic such as :

• Deposit

• Borrow

• Repay

• Withdraw

• Liquidate

The main differences between the inception vault mechanics and the MIMO protocol are the following :

• PARs are lent not minted

• PARs and repaid not burned

• Debt limit is not configured but defined by the AdminInceptionVault PAR balance

The owner deploys all 3 Inception Vault contracts by calling the cloneInceptionVault() function from the InceptionVaultFactory :

• AdminInceptionVault

• InceptionVaultsCore

• InceptionVaultsDataProvider

• InceptionVaultPriceFeed

Users and liquidators will only interact with the InceptionVaultsCore.