Source: XVSUSD Chart by TradingView
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.
The development of the Venus project is being undertaken by the Swipe project team. The main goal of Venus is to achieve decentralization through community-governance. There are no pre-mines for the team, developers or founders, giving XVS holders total control over the path the Venus Protocol takes.
Venus Protocol: Bringing DeFi to the masses
The first algorithmic money maker on BNB Chain wants to make DeFi mainstream — and it's on the road to get there.
Venus Protocol Launches Mission To Venus With Extra APY & Revenue Share For XVS Holders
Singapore, Singapore, 30th December, 2021 — Venus Protocol, a decentralized money market on Binance Smart Chain, is celebrating its Mission to Venus contest by boosting the rewards distribution on its new XVS Vault over the next 120 days, offering a big increase in annual percentage yield for stakers of the native Venus token.
Binance’s “regulatory-compliant” stablecoin Venus will learn from Libra’s mistakes
Binance said it will be learning from Facebook’s mistakes with Libra, taking an even “more conservative” approach with its stablecoin, Venus.
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