Themis 2.0 Features
The E-mode feature maximizes capital efficiency when collateral and borrowed assets have correlated prices. For example, DAI, USDC, USDT are all stablecoins pegged to USD. These stablecoins are all within the same E-mode category. Accordingly, a user supplying DAI in E-mode will have higher collateralization power when borrowing assets like USDC or USDT.
Only assets of the same category (for example stablecoins) can be borrowed in E-mode. E-mode does not restrict the usage of other assets as collateral. Assets outside of the E-mode category can still be supplied as collateral with normal LTV and liquidation parameters.
To enter E-mode from the dashboard, go to the dropdown menu under the "Borrow Markets” where you will find an “Enable E-mode” button. Initially, the button to enable E-mode will indicate that E-mode is “disabled.” Click “Enable E-mode" ” and follow the instructions in the pop-up. Once you have followed the instructions, you will have enhanced borrowing power (i.e., up to 97% LTV) within E-mode and can only borrow assets within the same category of assets (for example, stablecoins).
To exit E-mode, select "Disable E-mode” from the dropdown under the “Borrow Markets” section. Follow the instructions in the pop-up to exit E-mode.
When E-mode is enabled, you will have higher borrowing power over assets of the same E-mode category.
M0 allows you to create a passive income scenario with extremely liquid assets. Users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn passive income, while borrowers are able to borrow as either overcollateralized (in perpetuity) or undercollateralized (a single block of liquidity).
M1 means cash and demand deposits — to accommodate more liquid assets for collateralization, similar to "demand deposits" in other DeFi. The activity of M1 will make the M0 funds more efficient, increasing the passive income of M0 providers and giving more scenarios for the use of liquidity in other DeFi protocols.
Themis 2.0 upgrade primarily enhances the entire LendingPool, which is no longer just a simple non-custodial agreement for NFTs to lend and borrow, but a new model that allows depositors access to borrowing power with higher liquidity and a more complete risk control system.
tTokens are tokens minted and burnt upon supply and withdrawal of **assets to a Themis market, which denote the amount of crypto assets supplied and the yield earned on those assets. The tTokens’ value is pegged to the value of the corresponding supplied asset at a 1:1 ratio and can be safely stored, transferred, or traded. All yields collected by the tTokens' reserve are distributed to tToken holders directly by continuously increasing their wallet balance.
The sTokens and vTokens are debt tokens. In the LendingPool's interest rate algorithm, the s/vToken increases over time along with the tToken. tTokens & s/vTokens are both minted and burned 1:1. Burning s/vTokens when the user repays the borrowed assets means that the borrower will pay in more tokens, and when the user's tToken increases, the corresponding token is taken out when withdrawing to the pool.
💡 s/vToken cannot be transferred without permission, and their Balance is constantly changing in the wallet, with the amount changing each time it is settled.
M0 primarily offers secured lending on blue-chip assets, typically EIP-20 assets.
M0 can support EIP-2612, which means that after obtaining Permit, users holding these assets do not need to do Approval.