Overview
Learn what Vyro CDP is and how it works
What is Vyro CDP?
Vyro CDP is a non-custodial borrowing protocol that mints the over-collateralized stablecoin vyUSD. Users mint vyUSD for instant liquidity. Builders get a native USD settlement asset on Unichain, market-driven liquidity, and non-custodial yield paths.
Key features
- Borrow vyUSD against ETH, wstETH, and UNI.
- Pick your rate band for clear, predictable costs.
- Put vyUSD to work across supported yield venues.
- Participate in governance: stake VYRO to redirect Protocol-Incentivized Liquidity.
How Vyro CDP works
Vyro CDP allows users to deposit collateral and borrow vyUSD while setting their own interest rate. Borrowers can choose and adjust the rate they are willing to pay for their loans without relying on governance or algorithmic-set interest rates.
The system maintains stability through:
- Overcollateralization: All loans are backed by more value in collateral than the vyUSD borrowed
- Liquidation mechanisms: Undercollateralized positions can be liquidated to maintain system health
- Redemptions: A mechanism in Vyro to help sustain the dollar-peg
What is a Trove?
A trove is a Vyro CDP loan. When a borrower deposits collateral (ETH, wstETH, or UNI) and mints vyUSD, a trove is created. Each trove has a particular owner, and each owner can have multiple troves within Vyro.
Troves are minted against one collateral, meaning each trove can only have 1 type of collateral deposited in it.
What types of collateral can I use on Vyro?
Vyro CDP works with the following collaterals:
- WETH (wrapped Ethereum)
- wstETH (wrapped Lido ETH)
- UNI (Uniswap)
Getting started
New to Vyro? Start here:
- Borrowing vyUSD - Guide to borrowing vyUSD
- Liquidations - Understand liquidation mechanics and risk
- Stability Pools - Earn yield and liquidation gains with vyUSD
- Redemptions - Understand the redemption mechanism
- Frequently Asked Questions - Common questions and answers