What is Venus BUSD (vBUSD)?
As an algorithmic money market platform, the Venus Protocol incorporates a fully decentralized financial-based lending and credit ecosystem onto the BNB Smart Chain. Venus provides the network with collateral that may be borrowed by promising over-collateralized coins, allowing users to utilize their cryptocurrencies. This establishes a safe lending ecosystem in which the borrower pays interest and the lender earns a yearly compounded interest rate for each block. The network sets such lending rates in a curve yield, where they are regulated depending on the demand of a certain market.
Venus distinguishes itself from previous protocols because it can create synthetic stablecoins that safeguard the protocol using the market collateral in addition to borrowing other assets. The stablecoins are supported by a cryptocurrency basket rather than a basket of fiat money.
The vToken contract serves as a means of integrating any asset into the Venus Protocol. This contract represents balances sent to the protocol in a manner that complies with the EIP-20 standard. Venus BUSD (vBUSD) is a BUSD stablecoin turned into a vToken. You can view the latest movements in the vBUSD price on the Venus BUSD price chart above.
Use Cases of vBUSD
As vBUSD token is a vToken, it has three main functions:
- vBUSD can be used for earning interest through the exchange rate of vTokens;
- vBUSD can be used as collateral;
- vBUSD can be used to interact with the protocol, i.e., it can be used to borrow, repay or liquidate a borrow, and so on.
Don't forget to check the Venus BUSD price chart above. It features the current and the previous BUSD price.
Who Founded the Venus Protocol?
Joselito Lizarondo, a well-known entrepreneur, investor, and philanthropist, founded the Venus protocol. Joselito is a successful venture capitalist and blockchain advisor who also founded Swipe in 2018. After $1 billion in crypto transactions via Visa and millions of users, he sold it to Binance in 2020. Following his latest innovation with Swipe, Joselito founded Venus.
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
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Following
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Posts count
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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.
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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
13.48K
Members: 13,486
0.57%
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)
65 / 100
0.00%
Ahrefs Rank
167,706
10.53%
Organic Traffic (mo.)
22
8.33%
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.
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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
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Venus BUSD hot topics
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Venus BUSD posts
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