## What is Vai?

Vai (VAI) is a stablecoin that operates within the Venus Protocol, a decentralised finance (DeFi) algorithmic money market protocol primarily on the Binance Smart Chain (BSC). The main purpose of VAI is to provide a stable, decentralised currency for lending and borrowing activities within the Venus ecosystem.

## How does Vai work?

Vai functions on the Venus Protocol, which is built on the Binance Smart Chain. The protocol uses various algorithms to ensure the stability of VAI, including collateralisation with cryptocurrencies like Bitcoin, Ethereum, and Binance Coin. Liquidity pools are used to manage supply and demand, and smart contracts automate transactions to ensure transparency and security. The underlying blockchain employs a Proof of Staked Authority (PoSA) consensus mechanism, combining Proof of Stake (PoS) and Proof of Authority (PoA) to facilitate fast and secure transactions.

## What are the potential use cases for Vai?

1. **Decentralised Lending and Borrowing:** Users can lend and borrow VAI, providing them access to liquidity while earning interest within the Venus Protocol.
2. **Stability and Predictability:** Due to its stable value, VAI is ideal for financial transactions that require predictability, thus mitigating the issues related to cryptocurrency volatility.
3. **Accessibility:** The Venus Protocol aims to democratise DeFi services, making it easier for people without access to traditional financial systems to participate in borrowing and lending.


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