At vixna, we take the security of your collateral very seriously. When you take out a loan, your cryptocurrency collateral is sent to a new collateral wallet on-chain. This wallet is created specifically for the purpose of holding your collateral securely.
The entire process is transparent, and you can observe your collateral at any time. Once the collateral is deposited into the collateral wallet, it remains there until you repay your loan. This ensures that your collateral is always available and secure, providing you with peace of mind.
Our system is designed to provide maximum transparency. You can monitor the collateral wallet on the blockchain, ensuring that your collateral is safely stored and not being moved or used elsewhere. This transparency is a key aspect of our security measures, allowing you to verify the status of your collateral at any time.
By using blockchain technology, we ensure that the process is tamper-proof and secure. The decentralized nature of the blockchain means that your collateral is protected by the robust security measures inherent in the blockchain network.
When you repay your loan, the collateral is released from the collateral wallet and returned to your original wallet. This process is automated and occurs immediately upon loan repayment, ensuring that you regain access to your collateral as soon as possible.
At vixna, we are committed to providing a secure and transparent platform for managing your cryptocurrency collateral. Our security measures ensure that your collateral is always safe and that you can have full confidence in the integrity of our system.