#345. Venus (XVS)
Price of 1 Venus (XVS) = $17.10 AUD
Venus is described to be an algorithmic money market and synthetic stablecoin protocol exclusively on Binance Smart Chain. Venus claims to enable users to utilize their cryptocurrencies by supplying collateral to the network that may be borrowed by pledging over-collateralized cryptocurrencies. This creates a secure lending environment where the lender receives a compounded interest rate annually (APY) paid per block, while the borrower pays interest on the cryptocurrency borrowed. These interest rates are set by the protocol in a curve yield, where the rates are automated based on the demand of the specific market, such as Bitcoin. It is described that he difference of Venus from other money market protocols is the ability to use the collateral supplied to the market not only to borrow other assets but also to mint synthetic stablecoins with over-collateralized positions that protect the protocol. These synthetic stablecoins are not backed by a basket of fiat currencies but by a basket of cryptocurrencies. Venus utilizes the Binance Smart chain for fast, low-cost transactions while accessing a deep network of wrapped tokens and liquidity.
XVS Price Analysis
The price of XVS has gone down -6.81% in the past 24 hours.
Information & prices last updated 4 minutes ago. For latest Venus prices and information visit coinmarketcap.com
Information and prices shared on this web page may not be assumed as correct, nor used as financial advice. Please do your own research before investing. And you can help us keep this up-to-date report outdated information to us. Thank you.