Venus Protocol is a platform. decentralized It’s about fast, low-cost borrowing and built on the BNB Smart Chain, which allows borrowers to borrow using XVS and a variety of other currencies as collateral.
Venus differs from other protocols both in its ability to borrow other crypto assets, as well as its ability to create overcollateralized stablecoins. backed by a bucket of cryptocurrencies to protect the protocol
Venus Protocol will also generate returns. What are the products that the project offers?
Venus Protocol works as an algorithmic money market system aimed at creating a credit-based system on the BNB Chain. The cryptocurrencies on Venus earn interest on the deposit plus interest paid by the borrower in exchange for the loan. Users can also mine XVS on Venus using our platform.
What benefits do users get from Yield Farming and which cryptocurrencies are the most liquid within the Venus Protocol?
On Venus, lenders earn interest on borrowers of different cryptocurrencies. supported on the platform
Currently, users can borrow and lend 22 assets from the BNB Network (BEP20) on Venus: USDT, BUSD, BNB, BTCB, USDC, ETH, DOT, TUSD, DAI, CAKE, XRP, BETH, ADA, SXP, LTC, MATIC , LINK , DOGE, TRX, BCH, FIL & AAVE
Heard that this year Venus Protocol will announce changes to both the logo and the platform. What does this change mean?
The new logo and platform updates are just the tip of the iceberg. When it comes to developments within Venus in the coming weeks. We will gradually roll out our full UI updates. which will include features than the current interface The new version will be much easier to use as well.
Additionally, we are working on some key partnerships as well as new and innovative features. including fragmented loans This will greatly expand the market reach of the protocol. And it allows users with different exposures to take advantage of attractive loans. And there is a wide range of usage rates in cryptocurrencies.
The spin-off loan will support hundreds of new assets on Venus!
If so, in the same way Few months ago there was very important news, the inclusion of the Venus Protocol in Binance App’s Mini Apps. Can you provide us with more information about it?
The launch of the mini Venus program on the Binance app will benefit millions of Binance users who are unfamiliar with DeFi or unfamiliar with using third-party DeFi wallet software such as TrustWallet or Metamask.
This means that now anyone can deposit or borrow money from Venus without leaving the Binance app, making it easier for many users to become part of the DeFi world.
The ease of using the Venus Protocol within the Binance App indicates greater reach. and because of this The need to pay more attention to safety The project looks at the security issue within the Venus Protocol, how important is it?
Of course, regarding the security of the platform, Venus has several security audits from major Blockchain Security companies in the DeFi space. Each new product that Venus offers is in-house audited. Verification with Binance Security and BNB Chain security too ! User safety and funds are something we never take for granted!
And what about your new Tokenomics v3 offering? Can you briefly summarize About the meaning of this offer and its significance?
Venus Tokenomics v3 will unlock the first DeFi model to reward OGs and power users. Including increasing fund retention and APY in our leading markets. This will be an example for others to see what DeFi can do!