We believe that blockchain and crypto markets enable global, accessible, and free markets. Furthermore, decentralized financial applications offer greater levels of transparency, auditability, security, and freedom than centralized systems.
The IPOR rates are sourced directly from the smart contracts of decentralized credit markets, and are therefore true and fair representations of the state of the DeFi credit markets acting as a benchmark interest rate for DeFi. As interest rates reflect the beating pulse of the credit markets, the IPOR is the heartbeat of DeFi.
The IPOR shall be freely available for all market participants and built in a transparent manner. It is a public good, printed directly on-chain, available 24/7, and is auditable and reproducible for all. The on-chain IPOR rates can be freely used by other market participants to gauge the state of the market and to act as a reference for other protocols.
The IPOR is adaptable, able to continually evolve with the constantly changing DeFi markets. The governance shall be handled by the IPOR DAO to ensure transparent decision making and encourage market participants to exercise their rights in a public forum.
The IPOR is blockchain agnostic, and will evolve based upon market conditions and governed by the IPOR DAO. Its goal is to capture the whole of the decentralized credit markets. The DAO shall publish and revise criteria to add or subtract different blockchain and credit protocols to the IPOR indices.
The IPOR belongs to the community and its code shall be open-sourced. In the spirit of decentralization we envision a construct where multiple parties can independently verify, report, and publish the indices to multiple different blockchains. Decentralization is at the heart of the IPOR, and the community shall guide its code.