Do you know about one of the strong #Thena partner?
This is #VenusProtocolš
Let's figure out together what it isā
Venus Protocol is an algorithm-based money market system on #BNBChainā”ļø ,
ethereum and #opbnb .
It aims to allow users to lend and borrow cryptocurrency in a decentralized and secure way.
Anyone can use it by connecting crypto wallets.
Community controls the protocol by its native governance token $XVS ,
which can be staked in the Venus Protocol Vault to earn token rewards.
What is possible on VenusProtocol?
ā”Lending
ā”Borrowing
ā”Minting stablecoins
ā”Governance
LANDING: Users can lend and earn changing yield on the assets they supply by Venus Protocol.
BORROWING: Venus Protocol utilizes an over-collateralized loan system that requires borrowers to pledge collateral before borrowing.
MINTING STABLECOINS: Venus Protocol users can mint the stablecoin using remaining collateral from previous vToken deposits.
GOVERNANCE: Users can also influence the future of the Venus Protocol (adding new tokens, interest rates etc.) by voting with own governance token $XVS.
Advantages of VenusProtocol over others protocols:
āļøuse of supplied collateral for minting stablecoins
āļøusers can earn yield from minted tokens
āļøVenus Protocolās synthetic stablecoins are backed by the basket of cryptocurrencies
āļølow-cost and fast transactions on BNBchain
