Team is private
Venus is a decentralized application founded in 2020. The project team is private. In the decentralized finance space, this project has passed 1 audit. It has not been involved in any incidents. Venus runs on top of the Binance blockchain for fast and secure transactions with crypto assets. The project has its platform token called Venus. The trading volume for 24 hours is $10,096,458.
Users have the ability to contribute their cryptocurrencies to pools which can then be accessed by other users, where providers earn interest on the assets that they bring in. The DeFi Watch platform can be used as a tracker to find the best project pool with high swap fees and yield farming rewards. More details about Venus are available at venus.io.
Venus is a Binance Smart Chain (BSC) based algorithmic money market as well as synthetic stablecoin protocol which was developed as a simplistic cryptocurrency asset lending and borrowing solution to the decentralized finance (DeFi) ecosystem. Its main goal is to enable users to directly borrow against collateral at high speed without losing too much in transaction fees. Users can even mint the VAI stablecoins on-demand within seconds through posting 200% collateral to the Venus smart contract, and VAI tokens are synthetic BEP2-token assets pegged to the value of the U.S. Dollar. There is also the XVS token which is used for governance.
The founders or, in other words, the creators of the Venus project are known as the Swipe project team. Specifically, Joselito Lizarondo is the founder of both Swipe Wallet as well as the Venus Protocol. It was created as a fork of Compound (COMP) and Maker (MKR). Venus was developed to provide decentralization through community governance and there were no pre-mines for the team, developers nor founders, which gave XVS holders complete control over the Venus Protocol's future development.
The main way through Venus differentiates itself is due to the fact that it provides high speed while also maintaining low transaction costs, and these are made a possibility due to the fact that it is built upon the Binance Smart Chain. Additionally, the protocol is one of the first to enable users to access lending markets for Bitcoin, XRP, and Litecoin as well as other cryptocurrencies through which they can source liquidity in real-time due to the near-instantaneous transactions. Users can take a loan through interacting with the Venus Decentralized Application (dApp).