TVL > 100K
What is Venus (XVS)?
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.
Who are the founders of Venus (XVS)?
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.
What makes Venus (XVS) unique?
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).