| Stat | Value |
|---|---|
| Ticker | XVS |
| Price | $2.65 |
| Market Cap | $44.50M |
| 24h Change | +0.7% |
| Circulating Supply | 16.76M XVS |
| Max Supply | 30.00M XVS |
| All-Time High | $146.82 |
| Contract (Binance Smart Chain) | 0xcf6b...6c63 |
| Contract (Opbnb) | 0x3e2e...5c61 |
| Contract (Zksync) | 0xd78a...ac5a |
| Contract (Unichain) | 0x8190...aa0d |
| Contract (Base) | 0xebb7...7995 |
| Contract (Ethereum) | 0xd3cc...894a |
| Contract (Arbitrum One) | 0xc1eb...6d52 |
| Contract (Optimistic Ethereum) | 0x4a97...17cf |
What Is Venus Protocol?
Venus Protocol is the leading decentralized money market on BNB Chain (BSC), combining lending/borrowing functionality with a native algorithmic stablecoin (VAI). Often described as a BNB Chain equivalent of Compound + MakerDAO, Venus allows users to supply various BEP-20 tokens as collateral to borrow assets or mint VAI at zero-interest.
Core Products
Lending Markets:
Users supply assets (BNB, BTC, ETH, USDT, USDC, etc.) to Venus’s liquidity pools and receive vTokens (e.g., vBNB, vBTC) representing their deposit plus accrued interest. Borrowers post collateral and borrow against it up to their borrowing limit, paying a floating interest rate.
VAI Stablecoin:
VAI is a synthetic USD-pegged stablecoin that users can mint by pledging collateral. Unlike DAI (which requires overcollateralization plus stability fees), Venus initially offered VAI minting at 0% interest — though governance has adjusted rates over time to maintain the peg.
Interest Rate Model:
Rates are dynamically adjusted based on pool utilization (borrowed vs. supplied). High utilization raises borrowing rates to attract more supply; low utilization lowers rates.
XVS Token
XVS is the governance token of Venus DAO:
- Governance: Vote on supported collateral assets, collateral factors, interest rate parameters, VAI mint limits, and treasury use
- Staking (XVS Vault): Stake XVS to earn XVS rewards and gain boosted voting weight
- Protocol fees: A portion of interest revenue flows to XVS vaults as yield
Incident History
Venus suffered a significant $200M+ bad debt incident in 2021 when a large actor manipulated XVS’s price to borrow massively against inflated collateral. The incident prompted Venus to implement price oracle improvements and circuit breakers. Since then, Venus has been upgraded with isolated risk pools to contain future incidents.