What is XVS?

Venus (XVS) is a decentralised finance (DeFi) money market protocol built on the Binance Smart Chain. The aim of Venus is to enable the production of synthetic stablecoins backed by a basket of BEP-20 standard assets and digital asset lending. The protocol allows for simple asset lending and borrowing, enabling users to borrow against their collateral at speed while also losing less of their holdings to transaction fees. Venus also allows any user to mint VAI stablecoins within seconds by posting no less than 200% collateral to the smart contract. XVS tokens on the other hand are also BEP-20 standard but are the governance token of the Venus protocol. XVS tokens are used for voting on adjustments to the Venus protocol, examples of what has been voted on in the past include changing parameters, adding new collateral types and prioritising product improvements.