Venus (XVS)

Venus Coin Price & Market Data

Venus price today is $27.05 with a 24-hour trading volume of $45,244,400. XVS price is up 2.3% in the last 24 hours. It has a circulating supply of 10 Million XVS coins and a max supply of 30 Million. If you are looking to buy or sell Venus, PancakeSwap (v2) is currently the most active exchange.

What is XVS?

XVS is the governance token for Venus Protocol. 

How to obtain XVS?

You can purchase XVS from Pancakeswap and Binance. You can find XVS trading on various centralized and decentralized cryptocurrency exchanges.

What is Venus Protocol?

Venus Protocol is a money market and stablecoin protocol that operates on Binance Smart Chain. The protocol is forked from Compound and MarkerDAO.

Binance originally incubated Venus Protocol. After Binance acquired Swipe, Swipe took over the work of developing Venus Protocol.

Token Economics

30 million XVS have been minted at the genesis and will become accessible over the course of 4 years. The initial four-year allocation is as follows:

- 20% to Binance Launchpool participants staking BNB, BUSD, and SXP.

- 1% to Binance Smart Chain ecosystem grants.

- 79% to Venus liquidity providers over a period of 4 years.

How to use Venus Protocol?

Similar to how lending/borrowing protocols work, users can deposit assets into the Venus protocol and receive vTokens that accrue returns based on the variable interest rates. In the meantime, borrowers will have to pay the variable interest rates for the funds they borrow. The interest rates are calculated algorithmically by supply and demand. Only overcollateralized loans are supported now. Supported assets include ETH, USDC, XRP, FIL, and BCH.

What is VAI?

By posting collaterals in Venus, users can mint VAI - an overcollateralized stablecoin pegged to USD. 

What is the Collateral Factor?

The collateral factor determines how much a user can borrow based on the collateral posted. Using Swipe as an example, it has a collateral factor of 60%, which means depositing $1,000 worth of SXP allows the users to borrow at most $600 worth of assets. 

What is the Reserve Factor?

The Reserve Factor refers to how much of the interest rate earned goes to the Reserve Pool. The Reserve Pool is created to protect lenders against borrower default and liquidation malfunction. Using the same example as above, SXP has a reserve factor of 20%. 20% of the interest return earned from the SXP borrowings will be directed to the protocol’s reserve and act as an insurance fund.

How to use Binance Smart Chain?

To access Binance Smart Chain, users can access it through Metamask or Binance Chain Wallet. Users will have to customize their Metamask by key in the following details after choosing a custom RPC from the network’s option.

Binance operates two different chains:

1. Binance Chain - BEP 2

2. Binance Smart Chain (BSC) - BEP 20

Binance DEX is the primary decentralized app operating on Binance Chain. Most other projects are building on the Binance Smart Chain. The easiest way to convert any assets to its BEP 20 representation is through the Binance exchange. 

For example, after depositing Bitcoin to Binance Exchange, users can choose to withdraw it in the forms of ERC 20 (ETH), BEP 2 (Binance Chain), BEP 20 (BSC), and BTC’s native chain. Choose BEP 20 if you would like to have the asset interact with Venus. 

An alternative is through Binance Bridge, where users can swap the assets cross-chain from any L1 chain to BSC. 

Users will need to have BNB to pay for any transaction fee on Binance Smart Chain, similar to how users will need ETH to pay for transaction fees on Ethereum.

Users can also access the earning section of Venus through the Swipe Wallet app under the DeFi section. 

What is the Venus Reward Token (VRT)?

Venus Reward Token (VRT) is a new token launched by the Venus team as an additional mining distribution to lenders and borrowers of the protocol. It was airdropped to the protocol users sometime around 20th May 2021 at an amount of 1000 VRT to 1 XVS.