IPOR $IPOR

IPOR, the Inter Protocol Over-block Rate, serves as the underlying pulse of DeFi credit markets - a revolutionary attempt in the world of Decentralized Finance (DeFi) to institute a yield curve that describes the average borrowing cost in DeFi. This information is acquired from the most significant credit market protocols in DeFi like Aave and Compound, and displayed on-chain. The IPOR Protocol is divided into two key components: a benchmark interest rate for DeFi referred to as "The Index", and an array of interest rate derivative DEXes labeled as "The IRDs".

IPOR Protocol: The Index

The Index of IPOR is a benchmark interest rate for DeFi and is currently available for USDT, USDC, and DAI, with ETH joining the list soon. These Index rates are calculated and published on-chain, hence are accessible public goods within the Ethereum ecosystem. The Index presents three IPOR rates for USDC, USDT, and DAI with essentially different rate behavior. An IPOR ETH rate is in the pipeline as well, all of which are currently spot rates. The absence of a yield curve in DeFi opens up a massive market opportunity for the Index.

IPOR Protocol: The IRDs

The Interest Rate Derivative DEXes (IRDs) of IPOR quote rates for 28-day interest rate swaps for the markets mentioned above. The inaugural instrument to reference the IPOR rates is a 4-week IRS. This instrument incorporates the best of DeFi, with a liquidity pool and an Automated Market Maker (AMM). The liquidity pool passively ensures the same asset, while the AMM prices the instruments based on several quant models, distilled down to an operation that's economical enough to run on Ethereum. A fixed rate is quoted to the taker, while the IPOR serves as the floating rate. The IPOR rate displays on-chain via an oracle.

Future Plans: IPOR DAO

IPOR aims to evolve into a fully community-led Decentralized Autonomous Organization (DAO). IPOR Labs envisages transferring ownership to the IPOR DAO, whereupon complete control and ownership of the IPOR Protocol will belong to the IPOR token holders. Even though IPOR Labs aims to stay involved and propose ideas, the final approval of these proposals will be carried out in a