Venus Reward Token VRT

What is Venus Reward Token (VRT)?

The Venus reward token is the native utility token of the Venus protocol, which is a decentralized stablecoin marketplace for lenders and borrowers built on the Binance Smart Chain (BSC). Apart from borrowing and lending, users can also mint synthetic stablecoins on the Venus Protocol.

Another native token of the Venus Protocol is XVS. It's mostly used for governance. VRT, on the other hand, was developed to lower the inflation rate of XVS.

You can check the current VRT price on the Venus reward token price chart above.

Use Cases of VRT Tokens

The VRT coin brings a lot of utilities to the Venus ecosystem.

Firstly, all funds deposited into the ecosystem are to earn yields. These yields are earned in VRT crypto tokens. In addition, these yields can be used to mine stablecoins, or as collateral for stablecoin loans.

Secondly, users can exchange their Venus Reward Tokens for portable VRTs. These VRTs could then be used to transact with other users, or stored in crypto wallets.

Finally, VRT token holders can use their holdings as direct collaterals when borrowing from the platform. This use case comes with no transaction or trading fees and it gives its users access to liquidity, anytime and anywhere.

You should conduct further research if you plan to invest in VRT tokens. The current VRT price is shown on the graph above, along with recent price variations.

Who Created Venus Reward Token?

VRT was created by the Venus protocol, and the Venus protocol was founded by Joselito Lizarondo. He is also the founder and CEO of Swipe. Joselito was born in the Philippines and he is a successful entrepreneur. Besides, he also led the launch of the Binance Visa Card in Europe.