


Venus Protocol is the largest lending and borrowing protocol on BNB Chain and holds considerable influence across the ecosystem.
Introduction to Venus Protocol
Venus is an algorithmic money market protocol exclusively built on BNB Chain (BSC). Venus Protocol aims at providing lending and borrowing services to BNB Chain, competing with Ethereum-based Decentralized Apps (Dapps) like Compound, Aave, and MakerDAO.
Venus Protocol has long been one of the largest lending and borrowing protocols on BNB Chain and within the entire Web3 industry. founded in November 2020, it had a successful launch on both Binance Launch Pool and PancakeSwap where users could stake/earn the $XVS token helped to get visibility for the project.
After facing several exploits in 2021, the team used 2022 to rebrand and usher in a new era behind a new team and look. The project launched its V4 updates in November 2022 with significant changes which align for a stronger future.
In this article, we will dive in deep to learn more about Venus Protocol. Let’s go!

Venus Protocol aims to support these three core features:
- “Over collateralized” lending, where users can borrow assets of which the value is 75% or lower than the supplied assets.
- Earn interest by supplying supported collateral assets to the protocol.
- The ability to mint VAI, the protocol's default synthetic stablecoin pegged to the value of $1.00.
Lending and Borrowing on Venus
The major product feature of Venus Protocol is lending and borrowing. Venus Protocol allows users to lend and borrow permissionlessly from a pool of digital assets. For lending, users can lend assets and earn yield rewards on the assets they supply. When it comes to borrowing, Venus Protocol employs an over-collateralized loan process that makes the borrower pledge an asset for collateral before borrowing.
$VAI Stablecoin Minting
Venus Protocol allows users to lend, borrow, and mint assets. Venus enables synthetic stablecoin minting by using vTokens, which comes from the collateral users provide to the Venus Protocol. Users can generate (mint) $VAI tokens, Venus Protocol's synthetic stablecoin pegged at $1.00. $VAI is minted by supplying collateral to the protocol.
vTokens represent the deposited collateral that a person is fronting on the platform in order to borrow. Users can borrow up to 50% of their remaining collateral to mint VAI, the collateral is made up of “V”(wrapped) tokens such as $vBTC. For example, if a user supplies BUSD, they will get vBUSD that can later be redeemed.

Governance Token $XVS
Governance is a major part of the Venus Protocol and it has a strong and vocal community. The community plays a central role in helping redefine the rules according to community choices.
Venus Protocol's native token $XVS acts as its governance token. Holders of $XVS can vote on all kinds of initiatives ranging from adding new assets for collateral to changing parameters on the contract.
$XVS can be bought but users can also earn $XVS on the platform through ecosystem mining. The maximum number of tokens is set at 30,000,000 $XVS (thirty million), of which 21% were originally distributed via the Binance Launch pool, with the remaining 79% available for ecosystem mining.

Earning on the Venus Mainnet
The Venus Protocol Mainnet launched in November 2020 on BNB Chain, allowing users to earn $XVS by supplying and borrowing the following assets which in turn can be used for minting $VAI stablecoin:
- Swipe (SXP)
- Binance Coin (BNB)
- USDT (USDT)
- USDC (USDC)
- BUSD (BUSD)
- Venus (XVS)
Low fees and fast transfers on BNB Chain make money markets such as Venus more attractive than Ethereum-based platforms. During high-volume days, users may experience transaction fees upwards of $50. Venus solves this issue on BNB Chain, as it allows for under-capitalized users to leverage the negligible fees on BNB Chain.

Community Growth Strategies of Venus:
Venus is building a great community on BNB Chain and keeps building their community with various methods and incentives such as:
- Conducting AMAs with other BNB Chain projects.
- Regularly publishing content and news related to the DeFi money market.
- Hosting and participating in DeFi and blockchain conferences, workshops, and meetups.
- Partnering with existing BNB Chain protocols.
- Publishing updates in Medium.
- Actively communicating with the public via social channels.
- Creating Governance pools.
- Launching campaigns surrounding liquidity incentives.
- Adding new collateral to encourage more communities to participate in the protocol.
Conclusion
Venus protocol is the first lending and borrowing platform on BNB Chain, endorsed by the Binance Launch Pool. Venus has the first movers advantage on BNB Chain money markets, being the first project to launch lending and borrowing. The platform’s frictionless services have attracted many different users, especially with the minting of XVS tokens to bootstrap liquidity.
Venus has already worked to secure its stronghold on BNB Chain. Using resources to its advantage, Venus was able to partner with Binance through their accelerator fund and further collaboration with other crypto projects, such as SwipeWallet.
So what are you waiting for, check out their social media and become part of the Venus community!
Where to find Venus Protocol:
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Binance Founder CZ Barred from Leaving U.S. Amidst Sentencing Uncertainty

The judge ordered a stay on a condition allowing Zhao to return to the United Arab Emirates until the court reviews the government's motion.
In a significant development, Judge Richard Jones ruled that Changpeng Zhao (CZ), the former chief of Binance, must remain in the United States pending his sentencing. The decision overturns a condition that would have allowed CZ to return to his residence in the United Arab Emirates, pending the resolution of the Government’s motion for review.
Prosecutors raised concerns about CZ being a flight risk, pointing to his substantial wealth and the absence of an extradition treaty between the UAE and the U.S.
This comes in the aftermath of Binance's $4.3 billion fine for violating anti-money laundering measures, leading to CZ's agreement to step down as CEO. Facing a potential sentence of up to 10 years, CZ's legal team argued that he willingly appeared in court once and is likely to do so again.
Prosecutors countered, emphasizing CZ's substantial wealth outside the U.S. and the lack of an extradition deal between the U.S. and the UAE. Additionally, CZ's special status in the UAE, having obtained 'citizenship by invitation,' added complexity to the legal deliberations.
CZ's Exit from Binance and Legal Settlement
The ongoing legal battle follows CZ's decision to step down as CEO of Binance on Nov. 21 as part of a settlement with the Department of Justice (DoJ). The DoJ suggested that CZ's flight risk could be "manageable" if he remained in the country, proposing that detention might not be necessary during the waiting period.
Further, the latest filings indicate a potential shift in the DoJ's stance, with the possibility of pushing for a maximum sentence of 10 years instead of the initially expected 12-18 months.
CZ, who pleaded guilty to one felony count related to Binance's Anti-Money Laundering program, is currently free to travel within the U.S., secured by a $175 million bond, until his sentencing in February 2024.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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