Venus allows the world’s first decentralized stablecoin, VAI, which is supported by a range of stablecoins and crypto assets with no centralized authority and is based on the Binance Smart Chain.
The Venus Protocol’s primary network has gone live on Binance Smart Chain. Users may now access a fast, low-fee money market where they can mint VAI, the protocol’s first synthetic stablecoin.
VAI is a Binance Smart Chain-exclusive decentralized stablecoin based on the Venus Protocol.
The Venus Protocol is a BSC smart contract that allows users to provide and borrow assets. Accounts on the blockchain offer capital (BNB or BEP-20 tokens) to receive vTokens or lend commodities from the system via token contracts. The protocol will also allow for the production of VAI, the first synthesized stablecoin on Venus that intends to be linked to the US dollar. The collateral that is used to create VAI is the same collateral that is used to create the protocol. The Venus vToken contracts keep track of these balances and determine interest rates for borrowers using an algorithm.
What is Vai [VAI]?
Vai is a Binance Smart Chain-based decentralized stablecoin based on the Venus Protocol.
The XVS token governs the Venus Protocol, which was introduced in 2019. The latter was created to be a fair launch coin, with no upfront payments to the project’s founders or crew. It may be obtained by providing liquidity to the protocol using Binance Launchpool.
Vai, which is backed by a basket of stablecoins and other crypto assets and is controlled by the Venus Protocol, promises to be the first decentralized stablecoin on the Binance Smart Chain. Vai can provide a high-speed, low-fee money market to its consumers, thanks to Binance Smart Chain.
Who Are the Founders of Vai [VAI]?
With no founder or team allocations, XVS is allocated using a fair-launch process. It is supported by Swipe, a Binance portfolio business that is well-funded. Joselito Lizarondo, who is also the company’s current CEO, created Swipe.
What Makes Vai [VAI] Unique?
XVS, the Venus protocol’s native token can be mined by liquidity providers, protocol borrowers, and stablecoin miners.
The protocol provides to the Decentralized Finance (DeFi) ecosystem a simple crypto-asset lending and borrowing solution. It allows customers to lend effectively against collateral at a faster rate with fewer transaction fees. By placing at least 200 percent collateral onto the Venus smart contract, users can mint the VAI stablecoin on demand.
People who obtain liquidity using the Venus Protocol do not need to undergo credit checks and can obtain a loan by engaging with the Venus decentralized utility (DApp). Venus users are not vulnerable to arbitrary limitations due to the fact that it is not regulated by a central authority, and they may always obtain preferred liquidity by providing adequate collateral.
The loans are then provided from a pool of funds provided by Venus users, who can earn an annual percentage yield (APY) in exchange for their contributions. The Venus Protocol also makes use of price feed oracles, which provide reliable pricing data.
Where Can You Buy Vai [VAI]?
Shareholders can deposit crypto assets via the cryptocurrency exchange platform. Tokens for Vai (Vai) are now available for purchase on a number of top-tier exchanges. PancakeSwap, Binance, and Venus are the finest exchanges to utilize right now if you’re seeking to buy Vai.
Frequently Asked Questions
Is it possible to purchase VAI with cash?
No. Vai is currently unavailable for purchase using fiat currencies on any of the supported exchanges. You may, however, buy Bitcoin with fiat currency and subsequently convert it for Vai.
What Security Measures Does the Vai Network [VAI] Take?
The Binance Smart Chain provides complete security to the Vai network. It works with the Ethereum Virtual Machine (EVM) and can continue to function even if the Binance Chain goes down. The proof-of-staked authority (POSA) consensus method is used by Binance Smart Chain.
On what factors the price of the Vai Network [VAI] Depends?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact Vai’s price and market cap.
Vai Official website – https://venus.io/
Vai Medium – http://medium.com/VenusProtocol
Vai Twitter– https://twitter.com/VenusProtocol