### What is Vai?

Vai (VAI) is a decentralised stablecoin native to the Venus Protocol, operating on the BNB Smart Chain (BSC). It is designed to maintain a stable value pegged to the US dollar, backed by a diversified basket of stablecoins and cryptocurrencies. Vai supports a stable medium of exchange within the Venus ecosystem while facilitating DeFi applications such as lending and borrowing.

### How does Vai work?

Vai leverages the Venus Protocol and BSC's infrastructure to provide a stable and secure financial ecosystem. 

Key features include:
- **Algorithmic stability mechanism:** Automatically adjusts supply to maintain the 1:1 peg with the US dollar.
- **Collateral backing:** Supported by a basket of stablecoins and other crypto assets within the Venus Protocol.
- **Governance by XVS:** Decisions regarding the VAI token are made by holders of the Venus Protocol's governance token, XVS.
- **Integration with DeFi services:** Fully integrated with Venus Protocol's lending and borrowing functions, enhancing liquidity and usability.

Vai is powered by EVM-compatible smart contracts, which facilitate its minting, burning, and overall supply management.

### What are the potential use cases for Vai?

#### Applications:
- **Decentralised lending and borrowing:** Use VAI as collateral or borrow it against other crypto assets.
- **Yield farming:** Earn returns through VAI in various DeFi protocols.
- **Liquidity provision:** Provide liquidity for decentralised exchanges and earn rewards.
- **Stable medium of exchange:** Utilise VAI for secure, stable crypto transactions.

#### Industries:
- Decentralised Finance (DeFi)
- Cryptocurrency trading
- Cross-border transactions
- E-commerce

#### Partnerships:
- **Integration with Venus Protocol:** Central to its functionality within the BSC ecosystem.
- **Collaborations:** Potential partnerships within the Binance Smart Chain ecosystem to expand utility.

### What is the history of Vai?

#### Founding:
Vai was launched in 2019 as part of the Venus Protocol.

#### Key Milestones:
- **2019:** Launch of Venus Protocol and the VAI stablecoin.
- **2021:** Surpassed $300 million in trading volume.
- **2023:** Expanded support to multiple blockchain networks to enhance utility and adoption.

### Market Presence:
- **Circulating supply:** 5,171,072.5 VAI.
- **Total supply:** 5,171,072.57 VAI.
- **Max supply:** 8,484,461.45 VAI.

Vai is a key player in the Venus Protocol ecosystem, providing a stable and versatile asset for a wide range of DeFi and crypto applications.

Vai Stablecoin

Deposits and withdrawals are not currently available for this coin.

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