You can trade Venus on AEX, BingX, and Binance .
What is XVS?
fifteen is the administration token for Venus Protocol .
How to obtain XVS?
You can purchase fifteen from Pancakeswap and Binance. You can find fifteen deal on respective centralized and decentralized cryptocurrency exchanges .
What is Venus Protocol?
Venus Protocol is a money market and stablecoin protocol that operates on Binance Smart Chain. The protocol is forked from Compound and MarkerDAO .
Binance in the first place incubated Venus Protocol. After Binance acquired Swipe, Swipe took over the work of developing Venus Protocol .
Token Economics
30 million XVS have been minted at the genesis and will become accessible over the course of 4 years. The initial four-year allotment is as follows :
– 20 % to Binance Launchpool participants staking BNB, BUSD, and SXP .
– 1 % to Binance Smart Chain ecosystem grants .
– 79 % to Venus fluidity providers over a period of 4 years .
How to use Venus Protocol?
exchangeable to how lending/borrowing protocol function, users can deposit assets into the Venus protocol and receive vTokens that accrue returns based on the varying matter to rates. In the interim, borrowers will have to pay the variable interest rates for the funds they borrow. The interest rates are calculated algorithmically by provision and demand. only overcollateralized loans are supported immediately. Supported assets include ETH, USDC, XRP, FIL, and BCH .
What is VAI?
By posting collaterals in Venus, users can mint VAI – an overcollateralized stablecoin pegged to USD .
What is the Collateral Factor?
The collateral factor determines how much a drug user can borrow based on the collateral posted. Using Swipe as an example, it has a collateral component of 60 %, which means depositing $ 1,000 worth of SXP allows the users to borrow at most $ 600 worth of assets .
What is the Reserve Factor?
The Reserve Factor refers to how much of the pastime rate earned goes to the Reserve Pool. The Reserve Pool is created to protect lenders against borrower default and liquidation malfunction. Using the same case as above, SXP has a reserve agent of 20 %. 20 % of the interest render earned from the SXP borrowings will be directed to the protocol ’ south substitute and act as an policy fund .
How to use Binance Smart Chain?
To access Binance Smart Chain, users can access it through Metamask or Binance Chain Wallet. Users will have to customize their Metamask by key in the following details after choosing a custom RPC from the network ’ sulfur option .
Binance operates two different chains :
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Binance Chain – BEP 2
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Binance Smart Chain ( BSC ) – BEP 20
Binance DEX is the elementary decentralized app operating on Binance Chain. Most other projects are building on the Binance Smart Chain. The easiest direction to convert any assets to its BEP 20 representation is through the Binance exchange .
For example, after depositing Bitcoin to Binance Exchange, users can choose to withdraw it in the forms of ERC 20 ( ETH ), BEP 2 ( Binance Chain ), BEP 20 ( BSC ), and BTC ’ s native chain. Choose BEP 20 if you would like to have the asset interact with Venus .
An alternate is through Binance Bridge, where users can swap the assets cross-chain from any L1 chain to BSC .
Users will need to have BNB to pay for any transaction fee on Binance Smart Chain, alike to how users will need ETH to pay for transaction fees on Ethereum .
Users can besides access the earning section of Venus through the Swipe Wallet app under the DeFi section.
What is the Venus Reward Token (VRT)?
Venus Reward Token ( VRT ) is a newfangled token launched by the Venus team as an extra mine distribution to lenders and borrowers of the protocol. It was airdropped to the protocol users sometime around 20th May 2021 at an sum of 1000 VRT to 1 fifteen .
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