Venus (XVS): DeFi token and protocol analysis, rate chart, features, outlook

Venus – a decentralized market with landing and lending capabilities. Represents an algorithm DeFi system running on the Binance Smart Chain architecture. It allows users to borrow cryptocurrencies with the condition of over-collateralization, and also receive additional income by putting their cryptocurrencies into circulation with interest.

Interest rates are set automatically by the protocol, taking into account the supply and demand for a specific currency. What makes Venus different from many others? DeFi Protocols is that the collateral can be used not only to lend other currencies, but also to issue synthetic stablecoins collateralized not by fiat currency, but by cryptocurrency.

Criptomais experts analyzed the Venus project and prepared their analysis – the main functionality, the role of the XVS token, where you can buy or sell this cryptocurrency and what market prospects it has.

Briefly about the main thing

  • Venus is a decentralized marketplace with lending and borrowing capabilities based on the BNB Chain architecture.
  • Venus offers the opportunity to lend over-collateralized cryptocurrencies and earn income by putting your cryptocurrency into circulation with interest (see. landing page).
  • Interest rates are set automatically through smart contracts, taking into account the supply and demand for a specific currency.
  • XVS is a native token of the BEP-20 standard, used to manage the platform and generate profit. It was distributed through Binance Launchpool in 2020.
  • You can store XVS in crypto wallets that support BNB Chain. Examples – Safepal, ledger, Trust wallet, Mathwallet.

06/10/2020 the coin was listed on Exchanges and pairs trading is open XVS/USDT, XVS/BTC, XVS/BNB, XVS/BUSD. The asset is also available on exchanges KuCoin, MEX, Phemex, gate.io, pancakeswap. The editors of cryptomais.com will talk about the value of the Venus platform and its functional token.

XVS is a native BEP-20 token. It is used to manage the platform (vote on various decisions that aim to improve the product). As of September 29, 2020, the token became available for farming on Binance Launchpool for asset stakers like BNB, BUSD and SXP.

Index
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XVS to USDT Rate Chart

General information

Designation Venus
Clock XVS
token type BEP-20
Blockchain Binance Smart Chain
Total emissions 30,000,000 XVS
Official site https://venus.io/
White paper https://venus.io/Whitepaper.pdf
Blog https://medium.com/VenusProtocol
open code https://github.com/SwipeWallet/Venus-Protocol
twitter https://twitter.com/VenusProtocol
Exchanges Binance

Venus (XVS) price chart

XVS/USDD exchange rate chart in Binance cryptocurrency platform:

Venus Platform Features

Main features of the Venus market and functionality for creating synthetic stablecoins:

  • The ability to quickly borrow cryptocurrencies and stablecoins without checking your credit history and solvency. Held on Binance Smart Chain.
  • Provide interest on your cryptocurrencies and stablecoins to earn a variable interest rate and ensure protocol liquidity.
  • Mining stablecoins based on collateral with the possibility of use through the Swipe platform.
  • Fair distribution of tokens among the community.

Venus landing

Venus Protocol users can deposit various supported cryptocurrencies or other digital assets into the system and earn an interest rate that changes periodically based on market analysis. All user assets are combined into a single smart contract. At any time, the user can withdraw their liquidity if the protocol balance is positive.

Users who provide their cryptocurrencies to the protocol receive vTokens, for example BTC – vBTC, which allows them to be used to hedge risks or move them to wallets that support the Binance blockchain.

Venus Credits

Users who wish to lend any of the cryptocurrencies, stablecoins, or digital assets supported on Venus are required to submit collateral to the protocol. LTV – generally varies from 40 to 75%, that is, it is possible to receive coins worth 40-75% of the collateral value. The exact indicator depends on the selected currency. The coefficients are determined by the protocol and can be adjusted later in the decentralized control process.

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Once the assets are provided, the participant can borrow based on the asset's collateral ratio. If, during the use of the loan, the value of the collateral falls below 75% (this is the same level for everyone, regardless of the asset), a liquidation process may be triggered.

The user is under no obligation to make monthly payments; the main thing is that the guarantee ratio is always maintained at the required level. When it drops, you can pay off part of the loan or add collateral.

Venus Synthetic Stablecoins

The Venus protocol allows the generation of VAI, a synthetic stablecoin pegged to the value of the US dollar. For this, vTokens are used from the total guarantees inserted in the protocol. Users can borrow up to 50% of the remaining collateral value secured by their vTokens to mint VAI.

In the future, VAI will become the main Venus stablecoin, it will be used in the protocol, but interest rates will not be determined by algorithms, but by the company's management.

Binance LaunchPool XVS Token

The XVS token is the native token of the Venus protocol and will be distributed fairly among the community. You can receive tokens in only two ways – within the Binance LaunchPool project and also providing liquidity to the protocol (Profitable Farm).

To farm on Binance LaunchPool (for BNB, BUSD and SXP stakers), 6,000,000 XVS were allocated (20% of the total supply, which is 30,000,000 XVS). Another 1% (300,000) is allocated for donations to the Binance blockchain ecosystem.

farming Venus on Binance LaunchPool

Everything else will be available only through activity on the protocol – so over the next four years, 23,700,000 XVS will be distributed at a rate of 0.64 XVS per block (18,493 per day). 35% of daily rewards are distributed among borrowers, 35% among liquidity providers, and 30% among VAI creators.

Once 10,000,000 XVS have been mined, the token can be used to operate the platform. Until then, the token manager is considered Swipe Token (SXP). SXP borrowers and providers will receive triple rewards for the first 201,600 blocks.

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Venus (XVS) token distribution chart
Venus (XVS) token distribution

Advantages and disadvantages

Common questions

What is the Venus (XVS) token?

It is the governance token of the Venus Protocol platform, a decentralized lending platform on the BNB Chain.

Where can I buy Venus Token (XVS)?

Mainly on cryptocurrency brokers like Binance, BingX, MEXC, Phemex.

Can I buy Venus (XVS) with fiat currency?

On some exchanges yes. However, in the best case scenario, you will have to first buy another cryptocurrency such as USDT and then exchange it for XVS.

Where to store Venus Token (XVS)?

In cryptocurrency wallets such as Trust Wallet that support the desired blockchain network.

What is the experts’ prediction for the Venus token (XVS)?

Forecasts vary and should be considered based on general market conditions and conditions. In 2024, the token is in the top 300 by market capitalization and has a total trading volume of about US$ 4.5 million per day, this is not the worst indicator – interest in the coin continues.

Where can I find the latest news about Venus (XVS)?

On the project's official website, on social media. The site cannot be opened in Brazil without a VPN.

perspectives

The protocol was developed by Swipe Wallet, which Binance acquired in early 2020. Binance executives said the protocol should successfully resolve existing pain points for DeFi projects on Ethereum (such as excessive network load and high transaction costs). , since Venus operates on the Binance blockchain.