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Welcome To Wootfi All In One Review Blog > Blog > COINS > Venus Cardano (vADA) Coin Review : Complete Guide Review About Venus Cardano
COINS

Venus Cardano (vADA) Coin Review : Complete Guide Review About Venus Cardano

Denny Bitsong
7 months Ago COINS Posted by By Denny Bitsong 6 Min Read Add Comment Tags: Venus Cardano Venus Cardano login Venus Cardano signup
Venus Cardano (vADA) Coin Review : Complete Guide Review About Venus Cardano
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What is Venus Cardano (vADA) ?

Venus Cardano (vADA) is designed to enable a complete algorithmic money market protocol on Binance Smart Chain. The protocol designs are architected and forked based on Compound[1] and MarkerDAO[2] and synced into the Venus platform giving the benefits of both systems into one. Venus enables users to utilize their cryptocurrencies by supplying collateral to the network that may be borrowed by pledging over-collateralized cryptocurrencies.

Venus Cardano (vADA) This creates a secure lending environment where the lender receives a compounded interest rate annually (APY) paid per block, while the borrower pays interest on the cryptocurrency borrowed. These interest rates are set by the protocol in a curve yield, where the rates are automated based on the demand of the specific market, such as Bitcoin

Venus Cardano (vADA) The difference of Venus from other money market protocols is the ability to use the collateral supplied to the market not only to borrow other assets but also to mint synthetic stable coins with over-collateralized positions that protect the protocol. These synthetic stable coins are not backed by a basket of fiat currencies but by a basket of cryptocurrencies. Venus utilizes the Binance Smart chain for fast, low-cost transactions while accessing a deep network of wrapped tokens and liquidity

Venus Cardano (vADA) Coin Storage Key Points

Coin BasicInformation
Coin Name Venus Cardano
Short Name vADA
Circulating Supply —
Total Supply—
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Problems

Venus Cardano (vADA) The evolution of decentralized finance has created a diverse financial ecosystem built directly on block chains, which are transparent/verifiable through cryptography and pre-defined coding known as smart contracts. These platforms are redefining the structure of money markets without the need for a central authority or third-party decision-makers.

Venus Cardano (vADA) In today’s traditional world, users will need to provide creditworthiness, provable income, and other factors for a lender to make a decision even when the user provides collaterals such as homes or cars. Traditional lenders do not enable digital assets and cryptocurrencies to be pledged and used to receive loans or earn interest rates for providing them to the lenders and banks.

Solutions

Venus Cardano (vADA) Creating a protocol that enables a traditional money market tied into synthetic stablecoin generation will lead to accessibility and benefit of locked collateral. Venus will enable anyone to utilize a high-speed and low transaction cost blockchain by leveraging Binance Smart Chain[4] to supply collateral, earn interest on that collateral, borrow against that collateral, and mint stablecoins on-demand within seconds.

Venus Cardano (vADA) These solutions all happen directly on the block chain and may be utilized using a GUI. This protocol unlocks billions of dollars in value that are currently on-chains that have no lending markets such as Bitcoin, XRP, Litecoin, and more while enabling the participant to access liquidity in real-time.

Use Cases

Venus Cardano (vADA) Alice wants to buy her new dream house, but the bankers have declined her application. Alice has been a cryptocurrency advocate for years and has a good portfolio, but doesn’t want to expose herself to capital gains tax to sell the asset and not earn any potential appreciation. Then again, Alice believes in the underlying technology of cryptocurrencies as she believes in the mid and long-term growth of the asset class. So what does Alice do? She can’t use her bank to borrow money from her asset class. She can’t sell at the moment and expose herself to taxes and missing opportunities.

Earn Interest on Your Assets

Venus Cardano (vADA) Funds held within the protocol can earn APY’s based on the market demand for that asset. Interest is earned by the block and can be used as collateral to borrow assets or to mint stable coins.

Money Markets Built on Binance Smart Chain

Venus Cardano (vADA) You can now tokenize your assets utilizing the Binance Smart Chain and receive portable Tokens that you can freely move around to cold storage, transfer to other users, and more.

Access Instant liquidity on Venus

Venus Cardano (vADA) Use your vToken collateral to borrow from the Venus Protocol instantly with no trading fees, no slippage and directly on-chain. With Venus, you have on-demand liquidity available globally.

Supplying Assets

Venus Cardano (vADA) Protocol users may supply various supported cryptocurrencies or digital assets onto the platform, which can be used as collateral for loans, supply liquidity and earn an APY, or to mint synthetic stable coins.

Venus Token (XVS)

Venus Cardano (vADA) Protocol is governed by the Venus Token (XVS), which is designed to be a “fair launch” cryptocurrency. There are no founder, team, or developer allocations, and the XVS can only be earned through the Binance LaunchPool project or through providing liquidity to the protocol.

Tags: Venus Cardano Venus Cardano login Venus Cardano signup

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Denny Bitsong 13/12/2021
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