Venus BNB

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.