In this article, we would like to introduce Venus (XVS) -The Money Market & Synthetic Stablecoin platform built on Binance Smart Chain. We'll be covering the following topics:
- What is Venus? What are Venus's features?
- XVS Tokenomic and how to buy, store XVS tokens.
- Roadmap & Team members, Investors, and Strategic partners
- Finally, Is XVS a good investment?
- What is Venus?
- How does Venus work?
- What is XVS Token?
- Detailed information about XVS token
- XVS Price Today
- Key Metrics XVS
- XVS Token Allocation
- XVS Token release schedule
- XVS Token Sale
- XVS Token use cases
- How to store XVS Tokens
- How to buy XVS Tokens
- Roadmap & Updates
- Is Venus (XVS) a good investment?
- Team members, Investors and Partners
- Similar projects to compare
What is Venus?
Venus Protocol is an algorithmic money market protocol on Binance Smart Chain. The protocol is forked based on Compound and Marker DAO which brings the benefits of both systems into one.
Venus allows users to supply collateral, earn interest on that collateral, borrow against that collateral, and mint on-demand stablecoins.
How does Venus work?
What are Venus’s features?
- Supply cryptocurrencies and stablecoins and earn an APY.
- Mint stablecoins from supplied collaterals.
- Borrow cryptocurrencies and stablecoins which are over-collateralized by supplied assets, with no credit check and fast origination directly on Binance Smart Chain.
Learn more: How to use Venus (XVS): A Step-by-step Guide
What makes Venus (XVS) unique?
The main difference of Venus from other money market protocols is the ability to use the supplied collateral not only to borrow other assets but also to mint synthetic stablecoins.
Lenders will receive compounded interest rates which are based on the demand of the specific market.
Venus utilizes the Binance Smart chain for fast, low-cost transactions while accessing a deep network of wrapped tokens and liquidity.
What is XVS Token?
The Venus Protocol is governed by the Venus Token (XVS). There are no founder, team, or developer allocations.
Detailed information about XVS token
XVS Price Today
Users can check XVS price on Coin98 Markets via: markets.coin98.com/currencies/venus
Coin98 Markets is a price-tracking website for crypto assets in the rapidly growing cryptocurrency space. More specifically, you can view the detailed information of a Token Metric from any project, as well as access the home page or the community page of a project, or filter the coins/tokens by Market Cap, Trading Volume, etc.
Key Metrics XVS
- Token name: Venus
- Ticker: XVS
- Blockchain: Binance Smart Chain
- Token Standard: BEP-20
- Contract: 0xcf6bb5389c92bdda8a3747ddb454cb7a64626c63
- Token use cases: Governance
- Circulating Supply: 11,141,598 XVS
- Max Supply: 29,960,733
- Total Supply: 29,960,733
XVS Token Allocation
XVS Token release schedule
The allocation of 23,700,000 XVS for liquidity mining will be unlocked over a period of approximately four years, which begins after the Binance LaunchPool event at a rate of 0.64 XVS per block (18,493 per day).
XVS Token Sale
The project had no pre-sale or private sale.
XVS Token use cases
XVS tokens are expected to be used as governance tokens. To create a proposal, XVS holders will need 300,000 XVS and the proposal must reach a minimum of 600,000 XVS quorum to be approved.
Governance features include:
- Adding new cryptocurrencies or stablecoins to the protocol
- Adjusting variable interest rates for all markets
- Setting fixed interest rates for synthetic stablecoins
- Voting on protocol improvements/proposals
- Delegate protocol reserve distribution schedules
How to store XVS Tokens
You can store, send, receive XVS Tokens on Coin98 Wallet with a few single steps. The guides on how to make transactions with XVS on Coin98 Wallet are as follows:
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search XVS Token.
Step 3: Click on the correct result, copy the wallet address and send XVS to this address.
How to buy XVS Tokens
Step 1: Connect Coin98 Extension Wallet.
Step 2: Choose coins/tokens for trading:
- Choose Pancake New at the top of the trading screen.
- Search XVS.
- If the token is not shown, insert the token address: 0xcF6BB5389c92Bdda8a3747Ddb454cB7a64626C63
Step 3: Adjust the amount you want to swap.
Step 4: Adjust the gas fee, then click Swap.
Beside Coin98 Exchange, users can also trade XVZ token on other exchanges, such as: Pancakeswap, Binance, Gate.io
Roadmap & Updates
In February 13th 2021, Venus team published a Roadmap for the year of 2021 with below details:
- Venus plans to propose a VIP which will increase the percentage of borrowing amount oversupplied collateral from 60% to 80%.
- Venus DEX: The Venus DEX will be an orderbook based digital asset exchange that will enable high-frequency trading.
Is Venus (XVS) a good investment?
Below are some highlights for your consideration:
- The increase in the percentage of borrowing against supplied collateral will allow users to tap more into the value of their digital assets while having no downside to the protocol fundamentals as liquidators are doing their jobs well.
- Even though the team has some kinds of plans, the project has moved quite slowly and shown little performance in 2021. The below charts have shown substantial variances in VAI prices and market cap - which makes VAI undesirable stable assets. As a stable token, VAI should have illustrated the stability and consistency in price, providing traders with a safe harbor.
Traders can compare Venus with similar projects such as Compound or Maker DAO to have some price forecasts.
Team members, Investors and Partners
Founders/ Team members
Joselito Lizarondo: the CEO and founder of Swipe, a multi-asset Digital wallet and Visa debit card platform. He started his career at Swipe Wallet where he became the founder and Chief Executive Officer in 2019.
The project had no pre-sale or private sale → No investors.
Similar projects to compare
- Compound (COMP)
- MakerDAO (DAI)
This article has included the most critical and detailed information on the Venus (XVS) Token. Please leave any questions you have below, and we will get back to you as soon as we can!
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