Cryptocurrency attributes
Other attributes
Decentralized
Access an immutable money market protocol directly on-chain.
BEP-20
All Venus Protocol assets are bound by the BEP-20 standard.
Scalable
Built on Binance Smart Chain for fast, secure, and low cost transactions.
Venus enables the world's first decentralized stablecoin, VAI, built on Binance Smart Chain that is backed by a basket of stablecoins and crypto assets without centralized control.
Savings
Earn interest on your assets
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.
Protocol
Money Markets built on Binance Smart Chain
You can now tokenize your assets utilizing the Binance Smart Chain and receive portable vTokens that you can freely move around to cold storage, transfer to other users, and more.
Borrow On-Demand
Access instant liquidity on Venus
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.
The project launches in the fall of 2020. The Venus protocol is based on the BNB Smart Chain (BSC) blockchain, which allows transactions with BEP-20 tokens. The advantage of this blockchain compared to the Ethereum network is low transaction fees.
Lending (placing tokens at interest) and lending work through a system of liquidity pools. Users freeze their funds in a pool, in a single smart contract. Borrowers take out a cryptocurrency loan secured by other tokens. As a result, the owners of the lending deposit receive interest on the use of their assets.
A native XVS token is integrated into the protocol. Venus XVS tokens pay a reward for placing funds in the pool. The reward is evenly distributed among all participants in the lending pool. Users also receive vTokens - tokens collateralized by the Venus system (e.g., vETH for ETH) - for depositing funds. This reduces risks for liquidity providers.
Through the Venus protocol, it is possible to create a VAI token - a synthetic stackable token tied to the U.S. dollar. Thus, up to 50% of the collateral in vTokens can be converted into VAI. For now, the token is only used for additional credit. In the future, the protocol will switch completely to VAI, and the number of synthetic tokens will be expanded.
