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Information about Venus (XVS)
Venus (XVS) is a decentralized finance (DeFi) platform that enables users to borrow cryptocurrencies and create synthetic stablecoins on the Binance Smart Chain platform. Venus aspires to be a comprehensive decentralized lending platform on the Binance Smart Chain ecosystem.
Venus intends to transform traditional forms of lending into Blockchain-based decentralized protocols. Venus can make the lending process more efficient and convenient for borrowers by allowing them to obtain loans without the need for a credit check or proof of income. The Swipe project team is developing Project Venus, which was launched in 2020.
Venus’s Outstanding Characteristics
XVS is a token that operates on the Venus platform, operating on the Binance Smart Chain platform according to the BEP20 standard. XVS primarily acts as a Governance token and can only be earned through Binance LaunchPool projects or through providing liquidity to the protocol. Venus tokens are used to vote in governance decisions such as product improvements, new collateral integration, platform parameter changes, etc., among other functions.
News
Venus introduces the Pre-V5 Quantum Singularity Proposal targeting long-term growth in decentralized finance (DeFi). This proposal outlines eight strategic initiatives designed to enhance the ecosystem by incorporating AI technologies and expanding market reach.
A transformative acquisition involves purchasing a 33% stake in Thena.fi for 4.5 million USD, aiming to improve liquidity and foster partnerships. Additionally, Venus is launching crypto debit cards in collaboration with Enfineo, bridging DeFi with traditional finance.
The revamped tokenomics plan includes a 1 million USD buyback and establishment of XVS reserves to ensure financial stability. The integration of AI strategies will optimize yield and risk management for users, aligning with modern finance trends.
Venus announced the buyback proposal, XVS grew by 54.89%
On April 8, Venus announced a proposal to use 20% of the platform’s revenue to allocate to the Prime Token program.
XVS reacted positively to the news. In the last 24h, XVS increased by 54.89% to 192,732 VNDC, the highest level in 11 months.
Venus Protocol launches Mission to Venus with extra APY & revenue share for XVS holders
Venus Protocol, a decentralized money market on Binance Smart Chain, is celebrating its Mission to Venus contest by boosting the rewards distribution on its new XVS vault.
Venus has increased the APY on the 1.2 million XVS staked in the vault to a whopping 40% at this time and for the next 120 days.
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