Truefi
Venus
Venus
Venus is an algorithmic money market and synthetic stablecoin protocol launched exclusively on Binance Smart Chain (BSC).
What Is Venus (XVS)?
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.
Who Are the Founders of Venus (XVS)?
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.
What Makes Venus (XVS) Unique?
Venus’ main strength is its high speed and extremely low transaction costs, which are a direct result of being built on top of the Binance Smart Chain. The protocol is the first to enable users to access lending markets for Bitcoin (BTC), XRP Litecoin (LTC) and other cryptocurrencies to source liquidity in real-time, thanks to its near-instant transactions.
Customers sourcing liquidity using the Venus Protocol do not have to pass a credit check and can quickly take out a loan by interacting with the Venus decentralized application (DApp). Since there are no centralized authorities in place, users are not restricted by their geographic region, credit score or anything else, and can always source liquidity by posting sufficient collateral.
These loans are provided from a pool contributed by Venus users, who receive a variable APY for their contribution. These loans are secured by the over-collateralized deposits made by borrowers on the platform.
To avoid market manipulation attacks, the Venus Protocol utilizes price feed oracles, including those from Chainlink to provide accurate pricing data that cannot be tampered with. Thanks to the Binance Smart Chain, the protocol can access the price feeds at a lower cost and with better efficiency, reducing the overall cost footprint of the system.
Related Pages:
Read about Injective Protocol (INJ) — a project that launched through the Binance Launchpad.
\ Read about Binance Coin (BNB) — the token that powers the Binance Smart Chain.
Take a deep dive into decentralized finance (DeFi) with CoinMarketCap Alexandria.
Browse the CoinMarketCap Blog to discover the latest insights and market trends.
How Many Venus (XVS) Coins Are There in Circulation?
Venus has a maximum total supply of 30 million XVS tokens, and just over 4.2 million XVS tokens were in circulation as of November 2020.
Venus was one of the first platforms to conduct a Launchpool on Binance, which allowed users to farm XVS by staking different assets including Binance Coin (BNB), Binance USD (BUSD) and Swipe (SXP) tokens. A total of 20% of the total supply (6 million XVS) was allocated to the Binance Launchpool, and the token was listed shortly after on the Binance spot exchange platform.
The project had no pre-sale or private sale, and the team has no token allocation, but 1% of the total supply (300,000 XVS) is reserved for Binance Smart Chain ecosystem grants. The remaining 23.7 million XVS tokens will be gradually unlocked over a period of four years as they are mined by those that use the Venus protocol.
According to the project white paper, 35% of daily XVS rewards are distributed to borrowers, 35% to suppliers, and the remaining 30% to VAI stablecoin minters.
How is the Venus (XVS) Network Secured?
The Venus network is secured by the Binance Smart Chain, a blockchain that runs in parallel to the Binance Chain. BSC is compatible with the Ethereum Virtual Machine (EVM) and is capable of running even if the Binance Chain goes offline or encounters issues.
Binance Smart Chain utilizes a unique consensus algorithm known as proof-of-staked authority (POSA) to secure the blockchain. This is essentially a hybrid consensus mechanism that combines aspects of both proof-of-stake (POS) and proof-of-authority (POA). It is built around a network of 21 validators who are responsible for executing tasks on the Binance Smart Chain, and reaching consensus about recently processed transactions.
Beyond this, Venus suppliers are protected by automatic liquidation measures, which will automatically liquidate the collateral of borrowers if it falls below 75% of their borrowed amount—thereby reimbursing suppliers early to maintain the minimum collateralization ratio.
Where Can You Buy Venus (XVS)?
As of November 2020, Venus is available to trade on a single exchange platform: Binance. It is listed against Tether (USDT), Bitcoin (BTC), Binance Coin (BNB) and Binance USD (BUSD). There are currently no direct fiat on-ramps to purchase Venus.
Venus
Venus is an algorithmic money market and synthetic stablecoin protocol launched exclusively on Binance Smart Chain (BSC).
Badger DAO
Badger DAO
Badger DAO is an open-source, decentralized automated organization that is dedicated to building products and infrastructure of simplifying the use of Bitcoin (BTC) as collateral across many smart contract platforms.
What Is Badger DAO (BADGER)?
The platform is a shared space where the developers, known as Badge Builders, have the ability to collaborate and implement Bitcoin as collateral to as many blockchains as possible. A developer can earn a percentage of the fees and BADGER tokens from the developer mining pool for every implementation. The mainnet was launched on December 3, 2020.
A builder can be a single developer, a group of developers, or even a company. There are no fixed obligations to participation requirements, and anyone can create. The pillars of Badger DAO include the Badger Builders, the community-created products, the Dedicated Badger Operations team, the fairly initial distribution of the BADGER tokens for governance and the fact that all of the code is open-sourced.
Who Are the Founders of Badger DAO?
The founder of Badger DAO is Chris Spadafora. He is a long-term crypto enthusiast, investor, and partner at Angelrock.
What Makes Badger DAO Unique?
Badger DAO has two main products: Sett and DIGG. Badger DAO is a community-driven project; as such, before any products are developed they first need to be pitched to, voted on and approved by token holders.
Sett is a decentralized finance (DeFi) aggregator that has flash loan mitigation measures focused on tokenized BTC through five strategies. Once a user makes a deposit, they can earn a yield as the protocol’s smart contract does the work.
In order to incentivize this participation, farmers that deposit tokenized BTC into the Sett vault earn BADGER and DIGG. Aside from a 0.5% fee, an additional 4.5% is deducted from the profits to cover gas and transaction costs.
DIGG is a non-custodial synthetic Bitcoin on Ethereum’s blockchain that is pegged to the price of BTC with a flexible supply and a re-base function. Its main goal is to remove centralized third parties.
Related Pages:
Learn about SunContract.
Learn about Verge.
Learn about Hashmasks on CMC Alexandria.
Become more familiar with the crypto world with the CoinMarketCap blog.
How Many Badger DAO (BADGER) Coins Are There in Circulation?
Badger DAO (BADGER) has a circulating supply of 7,339,511 tokens as of March 2021 and a maximum supply of 21,000,000 BADGER.
How Is the Badger DAO Network Secured?
Badger DAO has passed the initial audit of its smart contracts by the Zokyo audit team with no critical issues found.
Badger DAO has established a security advisory committee that is composed of white hat hackers that regularly review the project’s ecosystem. Badger DAO also has plans to develop incentives that will reward public peer reviewers and to launch a bug bounty program.
Where Can You Buy Badger DAO (BADGER)?
Badger DAO (BADGER) can be bought or sold on the following exchanges:
Binance
Huobi Global
OKEx
FTX
ZT
If you are new to trading cryptocurrencies, feel free to read our guide on how to buy Bitcoin (BTC) here.
Badger DAO
Badger DAO is an open-source, decentralized automated organization building products and infrastructure to facilitate the use of Bitcoin (BTC) as collateral across many smart contract platforms.