What is Venus (XVS)?
Venus is a DeFi lending protocol running on the BNB Chain. Venus works as a permissionless, algorithmic money market, enabling borrowers to obtain crypto-based loans at reported low-interest rates. Lenders are rewarded for providing loan services without the need for an arbitrator. Governance of the Venus protocol is powered by the BEP-20 token $XVS.
The Venus protocol enables users to lend and borrow cryptocurrency while also allowing users to mint synthetic stablecoins backed by other cryptocurrencies with overcollateralized positions.
Governance on the Venus protocol is handled with the XVS token. According to the protocol, there are no allocations of XVS to the team, developers, or the founder, leaving governance up to the community. Though XVS is available on Binance, XVS can only be earned through the Binance Launchpool or by providing liquidity to the protocol.
In addition to the token, XVS token holders need to use the governance module, Governor Alpha, a smart contract that allows addresses with more than 300,000 XVS to propose, vote, and adopt changes to the protocol. Content of proposals can range from adding support to a new interest rate to supporting a new asset.
Venus Protocol partnerships include Binance, Radio Caca, Brace Software, and ApolloX. Venus has a total supply of 30 million XVS and a circulating supply of approximately 16.39 million XVS, with no fixed maximum supply.
XVS is listed on Binance for trade and purchase. The current price of XVS is updated and live-tracked on Binance in real-time.