What is Vai?
The Vai token or VAI is a synthetic stablecoin powering the Venus Protocol. The latter is an EVM-compatible money market system running on the BNB Smart Chain.
VAI is pegged to the US Dollar on a 1:1 ratio. This means that the VAI price fluctuates around 1 US Dollar.
The Vai token is one of the two native tokens of the Venus Protocol. The other token is called XVS and it mainly serves as a governance token. This means that XVS holders can participate in voting for proposals that have the power to change the course of the entire Vai crypto project.
Anyone can mine XVS tokens by minting the VAI stablecoin, supplying liquidity to the Binance Launchpool, or borrowing on the Venus Protocol.
The governance token of the Venus Protocol was introduced via a fair launch. This means that not a single token was allocated to the founding team or advisors.
VAI tokens do not have a max cap. Users mint VAI by providing collateral and receive vTokens in return. Additionally, liquidity providers receive an annual percentage yield a.k.a. APY.
Since VAI is a cryptocurrency, it tends to fluctuate in price. In order to keep up with the changes, check out the VAI price history or the current VAI price on the graph above.
What are the Main Features of Vai?
Venus Protocol enables seamless crypto lending and borrowing practices.
According to the Vai crypto project, the VAI token is the first basket-backed stablecoin deployed on the BNB Smart Chain. Most importantly, it’s 100% decentralized.
In turn, users can mint VAI without having to complete any kind of KYC procedures such as credit checks. It’s important to keep in mind that users must supply collateral of 200% at the very least.
As discussed in the What is Vai section, the Venus Protocol is running on the BNB Smart Chain. This means that it’s secured through the Proof-of-Staked-Authority (PoSA) consensus mechanism.
Some of the key benefits provided by the BNB Smart Chain include near-instantaneous transactions, increased security, and low fees.
Venus Protocol is a completely open-source project. This means that its codebase is publicly available for anyone to review.
Who Developed Vai?
The Vai crypto project was launched in late 2020. Its sole founder is Joselito Lizarondo who also co-founded Swipe which is one of the project’s core investors. Lizarondo currently taking the position of CEO at Venus Protocol.
These are the project's quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
Followers
224.84K
Followers: 224,840
0.12%
Following
567
0.00%
Posts count
3,511
0.80%
These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Subscribers
1.97K
Subscribers: 1,974
0.05%
Subreddit type
public
Moderators
4
0.00%
These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
Members
13.64K
Members: 13,647
0.19%
Title
Venus Protocol
These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.
Website Rating (DR)
63 / 100
1.56%
Ahrefs Rank
188,473
10.47%
Organic Traffic (mo.)
1,275
1.77%
These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
Public repos
23
Type
Organization
These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.
Stars
270
0.00%
Watchers
21
0.00%
Forks
189
0.00%
Language
Solidity
r/venusprotocol hot topics
@VenusProtocol posts