Venus

Venus

Exhange Launched
16-11-2020

Rating

NR

Number Coins

31

Number Market Pairs

-1

Traffic Score

725

Volume 24h

$-1 (-1)

Volume 7d

$-1 (-1)

Volume 30d

$-1 (-1)

Maker Fee

0%

Taker Fee

0%

Exchange Score

3.884

Derivative Volume

$0

Spot Volume

$702 M

Liquidity 24h

Launched On

16-11-2020
About Venus

Venus is an algorithmic-based money market system designed to bring a complete decentralized finance-based lending and credit system onto Binance Smart Chain. Venus enables users to utilize their cryptocurrencies by supplying collateral to the network that may be borrowed by pledging over-collateralized cryptocurrencies. This creates a secure ... More...

Links
Website:
https://app.venus.io
Twitter:
https://twitter.com/VenusProtocol
Chat:
https://t.me/VenusProtocol

Historical Chart by Exchange Volume (USD)

About Venus

Venus is an algorithmic-based money market system designed to bring a complete decentralized finance-based lending and credit system onto Binance Smart Chain. Venus enables 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. The 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.