Veno Finance Coin Review : Is It Good Or Bad Coin Read Our Article

About Veno Finance Coin

Veno Finance Coin liquid staking allows users to stake and earn yields without locking their assets into a protocol. To achieve that, users will have to deposit staking tokens into staking pools and will receive a token receipt of the corresponding liquid staked token. With that, users can use the token within the ecosystems for various yield strategies to maximize their earnings without the need of unstaking. LCRO is the token receipt of liquid staked CRO that users will receive after staking CRO with Veno. LCRO is an auto-compounding yield-bearing token, where its internal exchange rate on Veno will increase over time when compared to CRO based on CRO staking yield on Crypto.org.

As users automatically accrue the CRO staking yield value in their LCRO token; LCRO can thus be used freely across the Cronos DeFi ecosystem. LCRO holders will: (1) be able to utilize them as collateral while earning staking yield, (2) be able to find immediate CRO liquidity with low fees, and many more. Staking is a common mechanism to secure Layer 1 Blockchains; for CRO, users can stake CRO on the Crypto.org chain to receive CRO staking rewards. However, with an increase in adoption of Web 3, staking may be unfriendly to users who prefer immediate liquidity on their CRO holdings.

In the case of CRO, the unstaking period is an exceptionally long 28 days. Staking may also be quite a hassle as it requires users to select and frequently monitor their delegated validator status. Worst yet, many users are also unfamiliar with the risks and inner workings of staking. This is where your one-stop liquid staking solution comes in.

Veno Finance Coin Point Table

Tokenomics

VNO is Veno’s native token which can be utilized across the Cronos Ecosystem. VNO has several use cases, including rewards participation and boost farming. For example, users can deposit VNO into different vaults in Reservoir or Fountain to earn additional yields. Once you have received the confirmation on the platform, you have staked your LP token! You may view your staked balance in the Unstake section. For a first timer, you would have to give permission to the smart contract for accessing your funds. Then, review the details and confirm the transaction in your wallet.

How to use LCRO on Ferro to earn rewards

Ferro is the official DEX to offer LCRO liquidity by providing an LCRO-CRO stable pool. For details on how to add liquidity and stake liquidity on Ferro, please refer to the use guides in the next page. Once you have received the confirmation, you have successfully become a liquidity provider in this pool. You could scroll down to My Liquidity to view information including your share of the pool, the total amount provided as well as pool info.

Add Liquidity

After staking CRO, you will receive LCRO which is the token receipt of liquid staked CRO. Navigate to the Use LCRO section, which is located on the Staking page. On this tab, you will find Ferro listed in a card. Click Add liquidity to be directed to Ferro. Input the amount of tokens that you would like to add to the LCRO-CRO pool. You can choose to either provide liquidity in LCRO, CRO or both tokens. Then, review the details and click Add Liquidity to proceed.

How to Claim CRO from NFT

Once you have unstaked, you will receive an NFT that represents your share of CRO to be received. The NFT is redeemable when it completes the unstaking cycle. You may refer to the unlock date on the NFT to determine when you can redeem the CRO. Click the NFT that you want to redeem CRO. Then, click Claim to proceed. Alternatively, you can also claim all the redeemable NFTs in the same time.

Why Choose Veno Finance Coin?

Reservoir

The Reservoir carries dual functionality and is both Veno’s reward participation and insurance module. Users can lock VNO to receive CRO rewards here. Users can choose between lock durations of 3-months, 12-months, 48-months, and 96-months to lock their VNO. The longer the lock duration and/or larger the quantity locked, the larger proportion of rewards will be shared to the users. Veno aims to provide a sustainable 50% share of validator rewards (in CRO) to VNO stakers in the Reservoir. The validator commission on CRO staking yield is 10%, and Veno does not take any additional commission on the staking yield.

Fountain

The Fountain is where users can lock VNO to receive VNO incentives. Users can choose between lock durations of 3-months, 12-months, 48-months, and 96-months to lock their VNO. The longer the lock duration, the larger the proportion of VNO emissions for the users. For exit penalty paid to other lockers, it will be automatically locked into the 96-month vault and it needs to be claimed by other lockers.

Partners

Cronos ID is a decentralised identity and communication layer built on Cronos. On a broad level, Cronos ID will give users the ability to send and receive information on-chain, powered by human-readable identifiers. Built on the Cronos blockchain, Ferro Protocol is a StableSwap AMM protocol that brings a more efficient way for users to exchange and farm tokens by creating more efficient pools consisting of highly correlated assets, as well as allowing better composability between protocols in the Cronos ecosystem.

Minted Network

Minted.network is a decentralised NFT platform that aspires to be the digital bazaar of wonders for everyone to discover, trade, and find NFT gems, native to Ethereum and Cronos. Aiming to bring more tools for collection owners to design, curate, and offer utilities to their communities, all without the technical complexities that riddle many aspiring collection owners.

Where Can You Buy Veno Finance Coin?

Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On VVS Finance, As It Has The Highest VVS/VNO. e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include VVS/VNO And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.

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Veno Finance Coin Supported Wallet

Several Browser And Mobile App Based Wallets Support Veno Finance Coin. Here Is Example Of Wallet Which Veno Finance Coin – Trust Wallet For Hardware Ledger Nano.

Roadmap

FAQ Of Veno Finance Coin