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What Is Venus.io? (XVS) Complete Guide & Review About Venus.io
Welcome To Wootfi All In One Review Blog > Blog > Uncategorized > What Is Venus.io? (XVS) Complete Guide & Review About Venus.io
Uncategorized

What Is Venus.io? (XVS) Complete Guide & Review About Venus.io

Bixer Simond
1 year Ago Uncategorized Posted by By Bixer Simond 5 Min Read Add Comment Tags: How to login Venus.io How to sing up Venus.io Venus cryptocurrency Venus.io
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What Is Venus.io?

Venus.io 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.

Venus.io 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. they 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.

Venus.io Storage Key Points

Coin BasicInformation
Coin NameVenus.io
Short NameXVS
Circulating Supply9,263,550 XVS
Total Supply30,000,000
Source CodeClick Here To View Source Code
Explorersetherscan.io
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Features

Access instant liquidity on Venus

Venus.io 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.

Money Markets built on Binance Smart Chain

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

Earn interest on your assets

Venus.io 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 stablecoins

Value

Venus.io When a user supplies, borrows, or mints from the Venus protocol, they are using an underlying asset to the first bond to vTokens. These underlying assets held as collateral in the platform have dollar values that are tied to the vTokens as well. For this system to work properly,
collateral values are pulled from market rates. To pull these market rates efficiently, they will be
utilizing Band Oracles to grab market prices and update the protocol on-chain.

Venus.io Collateral Values are propagated from price feed Oracles, such as Chainlink, which pull market price data and send these values on-chain, so they are transparent and verifiable. Due to the fast speed and architecture of the Binance Smart Chain, these price feeds are easily
ascertainable with low cost and high efficiency directly on-chain. Currently, there is a hurdle of
bottleneck issues from oracles, such as Chain-link, which are provided on Ethereal. With rising
gas costs and congestion, these pricing oracles are not updating prices as efficiently or
economically.

Venus Token

Venus.io The Venus 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 Launch Pool project or through providing liquidity to the
protocol. There will be an initial 20% of the total supply of 30,000,000 (6,000,000 XVS) allocated to the Binance LaunchPool project where users can mine (farm) these tokens alongside 1% of the total supply (300,000 XVS) placed aside for the Binance Smart Chain ecosystem grants. Mard is king.

Venus.io The remainder of the supply will be exclusively available for the protocol, which will
result in 23,700,000 XVS mined over a period of approximately four years, which begins after
the Binance Launch Pool event at a rate 0.64 XVS per block (18,493 per day). The distribution of
XVS is based on liquidity mining, where 35% of the daily rewards get distributed to borrowers,
35% to suppliers, and 30% for stablecoin minters. tokens The protocol-created pegged assets when collateral is supplied are called tokens. tokens represent the unit of the collateral supplied and can be used as a redemption tool. vTokens are created and implemented by Governance processes and voted by Venus Token holders.

Tags: How to login Venus.io How to sing up Venus.io Venus cryptocurrency Venus.io

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Bixer Simond 05/04/2021
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