Venus is an algorithmic money market and synthetic stablecoin protocol exclusively developed on the Binance Smart Chain (BSC). It allows users to engage in high-speed borrowing against collateral while minimizing transaction fees. Additionally, users can mint VAI stablecoins almost instantaneously by posting at least 200% collateral to the Venus smart contract.
Venus operates on the Binance Smart Chain using a hybrid consensus mechanism called Proof of Staked Authority (PoSA) which combines Proof of Stake (PoS) and Proof of Authority (PoA). It integrates functionalities from existing DeFi projects like Compound and MakerDAO to facilitate lending, borrowing, and minting stablecoins. The XVS token is used for governance within the Venus ecosystem, letting holders vote on important changes and protocol upgrades.
Venus serves multiple financial functions, such as decentralized lending and borrowing, synthetic stablecoin creation, and liquidity mining. It is also integrated into gaming ecosystems to support in-game purchases and transactions through collaborations with platforms such as EggDrop and GOMBLE Games. Furthermore, it offers liquidity mining and yield farming, enhancing cross-chain compatibility in the DeFi space.
Launched in 2020 by Swipe, a prominent cryptocurrency credit card issuer, Venus was created to link traditional and decentralised finance. Major events in its history include its CertiK audit in December 2020, and a significant V4 upgrade in November 2022, which improved risk management and governance. It was developed by drawing insights from platforms such as Compound and MakerDAO and has maintained a strong market presence with integrations across various DeFi platforms.
The Venus price is $15.3 AUD, representing a -6.09% from the day prior.
The best place to buy Venus (XVS) 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 Venus (XVS) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
The trading volume of Venus (XVS) is $7.7M AUD in the last 24hrs, representing a -6.09% from the day prior.
Venus (XVS) 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.
The current market cap of Venus (XVS) is $249.4M AUD.
Yes - With Coinstash you can convert your Venus (XVS) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
The current circulating supply of Venus (XVS) is 16.4M.
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Venus (XVS) 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.