What is Venus (XVS) ?
Venue Token, or XVS token, is the native BEP-20 governance token of Venus protocol and is primarily used to vote on changes such as adding new collateral types, changing parameters, and organizing product improvements. XVS Coin Price will be mentioned later in detail in this article.
Venus is an algorithmic money market and synthetic stablecoin system that was released solely on Binance Smart Chain (BSC). The protocol brings a simple crypto asset lending and borrowing solution to the decentralized finance (DeFi) ecosystem, allowing users to directly borrow against collateral at fast speed while losing less to transaction fees. In addition, by depositing at least 200 percent collateral to the Venus smart contract, users can manufacture VAI stablecoins on-demand in seconds.
XVS Coin Price
Because the Venus team does not have any XVS coin allocations, the protocol is solely governed by XVS communitymembers. The XVS coin price is then completely governed by market mechanisms. Real-time XVS coin price can be found at ARKEN.
Who Are Venus Founders?
The Swipe project team is in charge of the Venus project's development. Venus's major objective is to establish decentralization through communal government. There are no pre-mines for the team, developers, or founders, allowing XVS Venus holders complete influence over the Venus Protocol's future direction.
Overview of the Venus community
Venus will first focus on community creation in Asia, Europe, and North America, leveraging its social and presence from the Swipe team, and will eventually expand to additional areas as the initiative matures.
Venus's current community building initiatives include:
Venus's future community expansion initiatives include:
What is the current circulation of Venus (XVS) coins?
Venus has a total supply of 30 million XVS tokens, with little more than 4.2 million XVS tokens in circulation as of November 2020.
Venus was one of the first sites to run a Binance Launchpool, allowing users to farm XVS by staking various assets such as Binance Coin (BNB), Binance USD (BUSD), and Swipe (SXP). A total of 20% of the total supply (6 million XVS) was assigned to the Binance Launchpool, and the token was launched on the Binance spot exchange platform immediately after.
There was no pre-sale or private sale for the project, and the team has no token allocation, however 1% of the total supply (300,000 XVS) is allocated for Binance Smart Chain ecosystem rewards. The remaining 23.7 million XVS coins will be gradually released over the course of four years when they are mined by Venus protocol users.
According to the project white paper, borrowers receive 35% of daily XVS incentives, suppliers receive 35%, and VAI stablecoin miners receive the remaining 30%.
Begin your Venus - XVS trading today, earn the limited supply of the token.
How Secure is the Venus (XVS) Network?
The Binance Smart Chain, a blockchain that operates alongside the Binance Chain, protects the Venus network. BSC is compatible with the Ethereum Virtual Machine (EVM) and can continue to operate even if the Binance Chain goes down or suffers problems.
Binance Smart Chain secures the blockchain by utilizing a unique consensus method known as proof-of-staked authority (POSA). This is a hybrid consensus method that incorporates features of both proof-of-stake (POS) and proof-of-authority (POA) (POA). It is based on a network of 21 validators who are in charge of completing tasks on the Binance Smart Chain and achieving consensus on recently completed transactions.
Aside from that, Venus suppliers are safeguarded by automatic liquidation procedures, which will immediately liquidate borrowers' collateral if it falls below 75% of their borrowed amount, reimbursing suppliers early to preserve the minimal collateralization ratio.
The Venus Protocol New Features
Venus isn't sitting on its laurels; with 70,000 people now registered on the platform, Venus just posted a roadmap to the forum outlining its next advancements.
Venus will issue a new Venus Reward Token (VRT), which will act as the Venus protocol's liquidity incentive token. The VRT will act as a one-of-a-kind deflationary measure for the standard native token XVS, lowering the emission rate while retaining the coin's value by making it scarcer.
Because of the volatility of the crypto markets, lenders find it impossible to maintain a constant loan rate, which frequently generates major issues for the borrower. Variable lending rates and yield curves can occasionally cause loan interest to skyrocket, invalidate collateral, or wipe out the entire borrowed amount. Venus Protocol will be the money market that offers fixed rates, leveraging liquidity mining and their tokens to keep loan interest rates stable.
Finally, Venus will enable users to vote on polls using staked XVS; the polling feature will function similarly to MakerDAO's polling, indicating to users and Venus' team the shape a proposal should take before launching. Though polling will not be available for all entries, anybody with enough XVS can begin polling. Venus will reveal the first XVS poll, which will propose how much XVS should be burnt from the reserve.
Why Should You Buy Venus?
What Makes Venus (XVS) So Special?
XVS investing can be subjective. Venus' major strength is its lightning-fast transaction speed and incredibly cheap transaction fees, which are a direct outcome of its construction on top of the Binance Smart Chain. Because of its near-instant transactions, the protocol is the first to allow users to access loan markets for Bitcoin (BTC), XRP, Litecoin (LTC), and other cryptocurrencies to source liquidity in real-time.
Customers obtaining liquidity using the Venus Protocol do not need to pass a credit check and may obtain a loan fast by engaging with the Venus decentralized application (DApp). Users are not restricted by their geographic location, credit score, or anything else because there are no centralized authorities in existence, and may always obtain liquidity by providing adequate collateral.
These loans are made possible by a pool of funds given by Venus users, who get a variable APY in exchange for their contributions. These loans are backed by borrowers' over-collateralized deposits on the platform.
To prevent market manipulation attempts, the Venus Protocol employs price feed oracles, such as those provided by Chainlink, to give reliable pricing data that cannot be tampered with. Because of the Binance Smart Chain, the protocol may obtain price feeds at a reduced cost and with more efficiency, lowering the system's total cost footprint.
More detail on XVS venus coin available on its whitepaper.
Venus Use Case
Venus is developing a DeFi money market platform, available only on the Binance Smart Chain. The protocol's primary goal is to provide digital asset lending as well as the creation of synthetic stablecoins backed by a basket of diverse BEP-20 assets. Originally designed to be controlled solely by the community, the Venus Protocol is governed by the XVS token, which was designed to be a "fair launch" cryptocurrency. XVS will be used largely for voting on governance decisions such as product enhancements, the integration of new collateral, and changes to platform settings, among other things.
To create a proposal, the user must have 300,000 XVS and the proposal itself must reach at least minimum 600,000 XVS in order to be approved. Referenced from Venue More detail on XVS venus coin available on its whitepaper, the governance features can include:
- Joselito Lizarondo
Historical Data for XVS Coin Price
|Nov 27, 2021||$22.1500||$23.0700||$20.9000||$22.2500||$14,417,529||$248,295,706|
|Nov 26, 2021||$21.3100||$22.1100||$21.0800||$22.1100||$31,379,016||$240,240,722|
|Nov 25, 2021||$24.1900||$24.3000||$21.0700||$21.4000||$14,547,836||$277,714,807|
|Nov 24, 2021||$23.9500||$24.9600||$23.8400||$24.2400||$20,401,741||$274,667,286|
|Nov 23, 2021||$25.7000||$25.7200||$24.0400||$24.0400||$52,756,708||$292,000,745|
|Nov 22, 2021||$24.4000||$27.1500||$24.3900||$25.5900||$64,734,753||$285,082,304|
|Nov 21, 2021||$23.1800||$26.0900||$21.7000||$24.6800||$13,544,471||$267,405,896|