Vault Types

What vault types does Nova offer?

Before onboarding new vault types, the Nova community will carefully assess the risks of each collateral (e.g. liquidity & volatility) and set the parameters for the vault.

Users can manager their vaults here: http://novaprotocol.finance/vaults

For each vault there exists various parameters including:

• Collateral Token: this is the collateral that the Nova protocol will accept in the vault to mint USDN.

• Minimum Collateral Ratio (MCR): This is the minimum collateral ratio a vault must maintain before be liquidated.

• Recovery Mode Collateral Ratio (RMCR): This is the minimum amount that the Vault Type must be collateralised by before entering Recovery Mode and enabling the liquidation of vaults under this collateral ratio.

• Minimum Debt: This is the minimum debt that must be extended against an individual vault type to be opened.

• Maximum Debt against Vault Type: This is the total debt against a Vault Type that can be extended. This is used to avoid having too much debt set against a certain type of collateral.

• Interest Rate: If set to a value other than 0, the vault will accumulate interest over time.

• Initialization Fee: This is the fee taken during loan initiation.

• Redeemability: Whether the vault can have collateral redeemed to keep USDN peg. Only the lowest collateral ratio vault for each Vault Type may be redeemed against.

• Oracle: The oracle price feeds used for this Vault Type.

Nova Protocol currently supports: $ETH $tETH $SOL $ezSOL $jitoSOL $TIA $stTIA