$6.02
1H
-0.25%$0.0151
24H
3.89%$0.2254
7D
17.0%$0.8734
30D
37.0%$1.63
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.
During this time period, the encryption technology team led by the Venus Foundation began to study the NFT field in depth, and the Venus project was officially established.
The DeFi ecosystem has expanded from decentralized exchanges (DEXs) to lending and borrowing facilities, synthetic assets, derivatives, and payment systems.
It may be worthwhile to keep an eye on Binance Smart Chain, one of the emerging DeFi blockchains on the market today.
Binance coin (BNB) is now up over 3688%, 97%, and 38% in the past year, 30 days, and two weeks respectively.
Binance has announced another project on its Binance Launchpool called Venus. Users will be able to get new token rewards in return for staking BNB, BUSD and SXP tokens.