Buy Vai Stablecoin (VAI)
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?
- Decentralised Lending and Borrowing: Users can lend and borrow VAI, providing them access to liquidity while earning interest within the Venus Protocol.
- 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.
- 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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Frequently Asked Questions (FAQs)
What is the current price of Vai Stablecoin (VAI)?
The Vai Stablecoin price is $1.6315 AUD, representing a -0.28% from the day prior.
Where is the best place to buy Vai Stablecoin (VAI) in Australia?
The best place to buy Vai Stablecoin (VAI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Vai Stablecoin (VAI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Vai Stablecoin (VAI)?
The trading volume of Vai Stablecoin (VAI) is $601.3K AUD in the last 24hrs, representing a -0.28% from the day prior.
How can I buy Vai Stablecoin (VAI)?
Vai Stablecoin (VAI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Vai Stablecoin (VAI)?
The current market cap of Vai Stablecoin (VAI) is $7.3M AUD.
Can I convert Vai Stablecoin (VAI) to cash?
Yes - With Coinstash you can convert your Vai Stablecoin (VAI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Vai Stablecoin (VAI) are there?
The current circulating supply of Vai Stablecoin (VAI) is 4.6M.
Is Coinstash a safe place to buy Vai Stablecoin (VAI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Vai Stablecoin (VAI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.