Price for today
4,395 USD 1,54%
0,00015060 BTC 1,54%
Name: Venus
Symbol: XVS
Circulating supply: 15 444 336 $
Max supply: 29 745 110 $
Cmc rank: 306
Volume 24h: 1 774 204 $
Percent change 1h: 0,05 %
Percent change 24h: 1,5 %
Percent Change 7d: 1,8 %
The protocol was developed by the Swipe Wallet company that Binance acquired in early 2020. Binance executives said the protocol should successfully eliminate the painful flaws of DeFi projects on Ethereum, because Venus works on the Binance blockchain.
Venus is a decentralized marketplace with lending capabilities. It is an algorithmic Defi system running on the Binance Smart Chain architecture. Allows users to borrow cryptocurrencies with excess collateral, as well as gain additional income by giving their cryptocurrency at interest.
The difference between Venus and many other DeFi protocols is that collateral can be used not only for borrowing other coins, but also to issue synthetic stablecoins, backed not by fiat, but by a cryptocurrency. XVS native token is used to manage the platform.
The DeFi sector has brought a revolution into finance and lending. It appeared to be the fuel for the crypto upward trend in 2020. Decentralized finance continues to develop, and many experts believe this direction will totally restructure the banking sector. In this article, we will discuss one such DeFi project, Venus, as well as XVS converter and exchange.
Venus is a decentralized lending marketplace with VAI and XVS tokens circulating within the platform. This marketplace is a DeFi system that runs on the Binance blockchain. Given over-collateralization conditions, some users can take out loans in digital coins, while others may provide their cryptocurrencies and receive passive income.
Bidding began relatively recently, in October 2020, although the project was launched back in August 2019. The network is governed by its own BEP-20 token XVS. Holders can participate in voting and make decisions on platform governance. They decide whether to integrate new software, it is necessary to change specific parameters, etc.
The Venus price has grown by over 5300% from fall 2020 to May 2021 followed by 78% correction. Take a closer look at the XVS price chart, and you will see that it clearly describes the price movement trajectory of the entire cryptocurrency market. That is, when the market moved up and down, the XVS token rate repeated these movements. Compared to Bitcoin, Ethereum, Litecoin, the XVS coin has a tiny capitalization ($330 million). That is why the Venus price showed much more volatility than top cryptocurrencies.
To date, the available circulation of tokens is 10,617,443, and the total emission is 30 million tokens. That is, so far, only 35% of all tokens are available.
The initial setup of the platform assumes that 79% of the total emission will be directed to Ecosystem Mining and distributed in the following way:
XVS crypto can also be farmed. So besides earning a percentage of the deposit, users can earn XVS tokens. To find out the interest rate, check out the Distribution APY line, as it can vary depending on some factors.
As of this writing, the Venus project ranks 142nd in the global cryptocurrency rating. XVS crypto is a fairly popular coin, so you can buy it on many platforms. The XVS exchange is available on Binance, one of the largest centralized exchanges. Also, you can convert XVS on many other sites.
If anonymity and speed are important to you, it is best to pay attention to decentralized exchanges. One of these is Godex, which provides 201 cryptocurrencies available for exchange.
Venus Protocol is very similar to traditional banking, where some clients can earn interest on their deposits while others take out loans. Unlike banks, Venus is a decentralized platform, and it does not store user funds in its accounts. On the contrary to traditional banks, operations in Venus proceed through a smart contract and not with the help of a living person. That means if the user does not violate the contract terms, one can be sure that the established agreements will be fulfilled.
The total emission of XVS is 30 million. So far, only 35% of them are available. 20% of the total emission (6 million XVS) was allocated to the Binance Launchpool, and shortly after that, the token got listed on Binance.
Before buying Venus or any other cryptocurrency, it is necessary to research them and find the pros and cons. The main thing is to invest with a cool head, never give in to emotions, and buy Venus to USD of the amount you can afford to lose.
As we said above, the most profitable way to exchange XVS is via the Godex decentralized exchange. The site does not require registration, and you don't have to enter any personal data. Godex does not collect or store information about its customers, so there is no need to worry about financial secrecy. Also, Godex offers XVS exchange at the best rate since the site's algorithms track the situation in the market and find the best conditions for swap.
To convert XVS to any other digital coin, take just a few simple steps:
That is how you create a query. After that, the funds will be transferred to the specified wallet within 5-30 minutes. The most popular coins for Venus exchange are BTC, ETH, BNB, and USDT. Overall, 201 cryptocurrencies are available on the Godex platform, and each of them can be swapped for XVS.
