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Venus (XVS) is in the top 1,000 cryptocurrencies in the world by market cap, valued at $157,170,000. The current price of Venus is $5.239, which is 0.172% higher than yesterday. Prices have ranged between $5.41 and $5.15 over the past 24 hours. All prices are listed in US dollars and accurate as of January 27, 2023 05:01 UTC.
XVS is the native governance token of Venus. According to its website, Venus is a DeFi money market protocol launched by Binance on the Binance Smart Chain (BSC).
It enables users to generate synthetic stablecoins backed by a basket of BEP-20 tokens to mint VAI, a synthetic stablecoin pegged to the US dollar.
The objective of Binance’s open blockchain project is to enable developed and developing nations to mint new currencies. The project enables its users to borrow against collateral at a high speed and to earn interest by lending collateral to the protocol. The collateral provided is represented by vTokens, which you can use to redeem the underlying asset or to borrow against. The protocol allows you to borrow up to 75% of the collateral value available on the protocol as vTokens to mint VAI. You can stake your Binance Coin (BCB), Binance Stablecoin (BUSD) and Swipe (SXP) tokens to different protocols and farm XVS tokens.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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