Venus (XVS), a lending and stablecoin issuing platform based on binance Smart Chain (BSC). Venus aims to establish a decentralized finance (DeFi) lending market on the Binsecurity Smart chain and allow the issuance of synthetic staboin assets through a range of BEP-20 collateral assets. XVS is the platform's native BEP-20 governance token, which is mainly used to participate in platform governance, such as voting for product upgrades, adding new collateral types, adjusting platform parameters, etc.

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XVS is the platform's native BEP-20 governance token, which is mainly used to participate in platform governance, such as voting for product upgrades, adding new collateral types, adjusting platform parameters, etc.

1. Venus users can borrow money through excess mortgage and get assets below 75% of the mortgage assets; You can also pledge assets for interest. 2. Built-in stability currency function. The Venus platform can synthesize stablecoin asset VAI with an anchor value of $1, which will be more conducive to the collaboration and chemistry between Venus and the rest of the binance chain. 3. XVS has been registered in Binance through mining and performed well after listing. It can attract the attention of binance users to a certain extent and introduce early traffic for the product.

Venus features build and run on most Linux and MacOS systems, but Windows is not yet supported. Venus validation nodes run on most systems with at least 8GB of RAM. Venus is the Go implementation of Filecoin, dedicated to improving Filecoin network security and the applicability of distributed clusters.

XVS was released through a fair launch mechanism with no founder or team allocations and was supported by a well-funded organization and Swipe's team. Of the total XVS of 30 million, 20% is allocated to binance start-up pool project, 1% is allocated to binance smart chain ecological subsidy, and the remaining 79% is all based on liquidity mining, among which 35% daily reward is allocated to borrowers, 35% to depositors, and 30% to stabocoin minting users.

IO's main advantages are its high speed and extremely low transaction costs, which are a direct result of being built on top of Binance's smart chain. The protocol is the first method that enables users to access lending markets for Bitcoin (BTC), XRP Litecoin (LTC) and other cryptocurrencies to access liquidity in real time, thanks to its instant transactions. Customers purchasing liquidity using the Venus protocol do not need to go through a credit check and can quickly withdraw their loans by interacting with the Venus decentralized application (DApp). With no centralized authority in place, users are not limited by their location, credit score, or anything else, and can always obtain liquidity by Posting sufficient collateral. These loans are funded by gold Star user contributions to a pool of funds that receive variable APY for their contributions. These loans are secured by excess pledged deposits made by borrowers on the platform. To avoid market manipulation attacks, Venus Protocol leverages price feed prediction systems, including those from Chainlink, to provide immutable and accurate pricing data. With Binance smart Chain, the protocol can access price information at a lower cost and more efficiently, thereby reducing the overall cost of the system.

The first 20% of the total supply of 30 million, or 6 million XVS, will be allocated in the Binance LaunchPool program, where users can mine (farm) these tokens, with 1% of the total supply (300,000 XVS) going to the Binance Smart Chain Ecosystem Grant. The rest of the supply will be used solely for the agreement, which will mine 23.7 million XVS over approximately four years, starting with the completion of the Bitenon LaunchPool at a rate of 0.64 XVS per block (18,493 per day). The allocation of XVS is based on liquidity mining, where 35% of daily rewards are allocated to borrowers, 35% to suppliers, and 30% to staboin minters.

Binance has explicitly positioned its Venus stablecoin project as a competitor to Facebook's Libra cryptocurrency. "You can say this is a response to Libra, or you can say this is an alternative to Libra," Binance chief Compliance Officer Samuel Lim told the OECD Global Blockchain Policy Forum last week. It's like a strong competitor to Libra." Binance has launched a global initiative to develop Venus, a stablecoin linked to fiat currency. Venus's biggest difference from Libra is that it ensures that any proposed stablesoin issuance is aligned with the government, which decides how and how much the currency is pledged, etc. So Binance is essentially letting the central bank decide how much reserves to use in its vaults to support Venus. In stablecoin issuance, Binance acts as a technology provider, issuing tokens through its Binance Chain, much like erC-20 tokens issued on Ethereum.

May 19 news, BSC's largest lending platform VENUS was exposed to a large liquidation, the impact is extremely bad. According to the feedback of the community, there are several big players in the hands of more than 3 million XVS (Venus pingnt), they spent tens of millions of dollars in a very short time last night to pull the price of XVS from more than 70 dollars to 144 dollars, and then borrowed thousands of BTC and tens of thousands of ETH at the high price of collateral XVS. The price quickly collapsed and XVS was liquidated, leaving Venus with more than $100 million in bad debt. For the more than $100 million of bad debts generated this time, it is suggested that there are three ways to resolve them: first, binance takes over bad debts. Second, Venus is selling coins to cover its bills. Third, Venus went to other platforms to fill the loan. Either way, it will not be easy to implement. For investors, they should withdraw BTC or ETH pledged on the platform in time, so as not to be repaid. For BSC, the implications are already evident. At present, the situation is very tense. Polygon (Matic) has locked up its position for 11 billion DOLLARS in less than two months, and Solana is also pouring money into the field. The first mover advantage established by BSC in DeFi field is gradually eroded, and the capital is greatly lost. Debiting and DEX are the foundation of DeFi. As BSC's largest debiting platform, VENUS has trouble again and again, which is likely to bring BSC down. Binance will either take advantage of this incident to overhaul Venus or re-establish it or simply create a lending platform of its own, otherwise the future of BSC will be in jeopardy. The VENUS incident was a wake-up call. There are huge risks associated with any innovation. Defi has certainly breathed new life into financial markets, but with innovation comes trouble. This XVS incident brought a big shock to the market, and also showed us the immature side of the Defi market. Therefore, how to improve the Defi market security is still a long way to go.