Imaginary, at it's core, consists of the Lender and associated Lockers.
🚧 Simplified Contract View
Depicted in the diagram is the Lender and Locker (L/L), the User, and the Arbiter.
The User may interact, throught the web interface or other web3 tools, with the deployed smart contracts. They can create Lockers to deposit and manage collateral. They may also interact with Lenders to take out or resolve an existing loan.
Lockers allow users to deposit assets from their wallet. Lockers are like safety deposit boxes that are tuned to properly handle, and gather accurate valuations of the asset.
The Lender is where users can issue stablecoins against their locked collateral. There are multiple Lenders, deployed to support various sets of different Lockers and types of loan resolution.
The Imaginary Token ($IMGY) is our protocol token and comes with special utility. For example, the token can be used to vote on future proposals or gain access to protcol revenue in the form of borrowing power.
We are always looking for new ideas and ways to expand the token's utility. Have one? We'd love to hear it!
Secret Word is grenadine