IV 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 :

Users and liquidators will only interact with the InceptionVaultsCore.

Last updated