Venus Description

Venus has introduced the world's pioneering decentralized stablecoin, known as VAI, which operates on the Binance Smart Chain and is supported by a diverse array of stablecoins and cryptocurrency assets, all without any centralized oversight. The funds maintained within this protocol can generate annual percentage yields (APYs) that fluctuate according to market demand for the respective assets. Interest accrues on a per-block basis and can be utilized as collateral for borrowing assets or minting stablecoins. Additionally, users can tokenize their assets on the Binance Smart Chain, receiving portable vTokens that are easily transferable to cold storage, shared with other users, and much more. By leveraging your vToken collateral, you can quickly borrow from the Venus Protocol, enjoying a seamless experience with no trading fees or slippage, all conducted directly on-chain. With Venus, you gain access to immediate liquidity that is available on a global scale, allowing for unprecedented financial flexibility. This innovative approach signifies a major advancement in decentralized finance, making it easier for users to engage with their digital assets.

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Company Details

Company:
Venus
Website:
venus.io

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Venus Screenshot 1
Venus Screenshot 1
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Venus User Reviews

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  • Name: Dread K.
    Job Title: Founder
    Length of product use: 6-12 Months
    Used How Often?: Yearly
    Role: User
    Organization Size: 1 - 25
    Features
    Design
    Ease
    Pricing
    Support
    Likelihood to Recommend to Others
    1 2 3 4 5 6 7 8 9 10

    Had potential, but just another scammy project in the end

    Date: Nov 27 2021

    Summary: I burned my portfolio with this project, because it had crappy volatility. There was some hack or exploit and after the token lost most of its value. The team didn't made things up by burning away some of the token as many investors suggested, so to me the developers are crooks one way or another, sadly :-(

    Positive: Website looks very nice. It's designed by professionals, has very clean look and the project is something that the crypto world could have made good use of.

    Negative: No dark mode on homepage. The token was hacked or exploited, so it dived.

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