venus

Crypto lending and payments

Venus is a decentralized currency and asset exchange where users can borrow up to 75% of the value of their total asset

Pros

  • Fees are significantly lower than the industry average.
  • For minting the token, there are rewards.
  • The most widely used protocol on the BSC.
  • Simple user interface

Cons

  • No mobile app
  • XVS cannot be borrowed from Venus.

Features

  • Borrow cryptocurrencies and stablecoins with no credit check and fast origination directly on Binance Smart Chain.
  • Supply cryptocurrencies and stablecoins and earn a variable APY for providing liquidity the protocol that is secured by over-collateralized assets.
  • Mint stablecoins from your supplied collateral that can be used at over 60 million locations worldwide through the Swipe platform and more.
  • Controlled by the Venus Token, a governance token designed to be a fair launch distribution for the community

What is venus?

Founded in 2020 by Joselito Lizarondo, Venus is a decentralized currency and asset exchange that operates online. Users can use their digital assets as collateral and borrow up to 75% of the total value of their assets. The platform strives for complete transparency in its operations and as a result was developed on the Binance Smart Chain to achieve this.

Users who want to borrow any of the supported cryptocurrencies, stablecoins, or digital assets from Venus must put up collateral that is locked to the protocol. These assets must be over-collateralized, allowing for a loan of up to 75% of the value of the collateral. The protocol determines these collateral ratios, which are governed by the Governance process. You can borrow based on the asset's collateral ratio once these assets have been provided.

The collateral ratio is typically fixed between 40% and 75%

Venus bridges the gap between traditional financial lending and decentralized blockchain-based protocols. It allows anyone to use a fast, low-cost blockchain to offer collateral, earn interest, borrow against that collateral, and issue stablecoins on demand in seconds. 

Year Founded: 
2020
Check out venus now
@VenusProtocol

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