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What is XVS token used for?

How the XVS token is used in Venus lending protocol. Venus is a protocol for money markets, with a stablecoin (VAI), on Binance Smart chain.

What is XVS?


XVS the governance token for Venus lending protocol.

XVS token is used for


  • Governance / delegating voting
  • Yield farming

How could value accrue to the token?


Potential

  • Fees to token holders

What is VENUS protocol?


Venus is a lending protocol with a stablecoin (VAI) on Binance Smart chain. Users can deposit assets and receive interest bearing vTokens back. Users can also mint VAI stablecoin by depositing collateral.

How it works


Venus offers lending markets for under utilized assets in DeFi such as Bitcoin, XRP, Litecoin.

Liquidity providers can mint VAI with their vTokens, up to 50%. Which is more efficienct than many other lending protocols.

Governance

Users can either vote on proposals over delegate their votes to another address.

Tokens

  • Tokens is used to incentivize lending and borrowing by adding extra interest.
  • Venus will launch VRT token in order to lower inflation of XVS.

Rates

  • Interest rates for vTokens updates in any block where the borrowed to supplied asset ratio has changed.

Token issuance


Total supply: 30,000,000 Tokens

XVS did not have a private sale and launched only with yield farming.

Binance Launchpool token rewards: 6,000,000 XVS (20% of Total Token Supply)

Docs


Similar projects


Token price


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