1H
-0.42%$0.0271
24H
4.40%$0.2710
7D
9.39%$0.5519
30D
-6.39%$0.4389
Venus is an algorithmic money market and synthetic stablecoin protocol launched exclusively on Binance Smart Chain (BSC).
The protocol introduces a simple-to-use crypto asset lending and borrowing solution to the decentralized finance (DeFi) ecosystem, enabling users to directly borrow against collateral at high speed while losing less to transaction fees. In addition, Venus allows users to mint VAI stablecoins on-demand within seconds by posting at least 200% collateral to the Venus smart contract.
VAI tokens are synthetic BEP-20 token assets that are pegged to the value of one U.S. dollar (USD), whereas XVS tokens are also BEP-20-based, but are instead used for governance of the Venus protocol, and can be used to vote on adjustments – including adding new collateral types, changing parameters and organizing product improvements.
The governance of the protocol is entirely controlled by XVS community members, since the Venus founders, team members and other advisors do have any XVS token allocations.
Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions.
This guide is a must-read when joining the SNORT presale. Discover the Snorter Bot launch date and its projected exchange listings.