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Venus reviews
Reviewed by Yunis
3 June 2023 (Updated 18 April 2024)

Venus Crypto Platform

Venus is a decentralized protocol that is built for crypto lending and borrowing in order to meet the DeFi world's needs. Venus protocol was founded and developed by the Swipe project team led by Joselito Lizarondo. What makes Venus unique is that Venus is first of all other lending protocols. Basically, it works on Binance Smart Chain.as an algorithmic market and Synthetic Stablecoin platform that allows users to borrow and lend without any permission or intermediate.

Venus platform has a quite simple interface on its website. users can click on the website then easily launch the app and connect their wallets. The Venus Protocol offers several key features on the Venus app. Such as : Borrowing: Users can borrow cryptocurrencies and stablecoins without the need for a credit check. This allows for fast origination directly on the Binance Smart Chain, providing users with convenient access to funds.

Supplying and Earning: Users can supply their cryptocurrencies and stablecoins to the protocol and earn a variable Annual Percentage Yield (APY) for providing liquidity.

Stablecoin Minting: Users can mint stablecoins using their supplied collateral. These stablecoins can be used at over 60 million locations worldwide through the Swipe platform, expanding their utility beyond the DeFi ecosystem.

The Venus Protocol is governed by the Venus Token (XVS), a cryptocurrency designed for a fair launch. XVS can only be earned through the Binance LaunchPool project or by providing liquidity to the protocol.In the initial allocation, 20% of the total supply (30 billion) is allocated to the Binance LaunchPool project for mining. Additionally, 1% of the total supply is reserved for grants to the Binance Smart Chain ecosystem. The remaining supply is exclusively available for the protocol.

Unfortunately, the protocol, Venus, faced a significant loss in 19 May 2021 due to bad debt following a large liquidation event caused by a price spike and subsequent collapse in the value of XVS. Venus had to cover the resulting negative balance through the deployment of the Venus Grants Program.

Pros

tick $603,264,648 USD currently invested (TVL)
tick Investments in 20 coin pairs available
tick Operating on Binance Smart Chain protocol

Cons

cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users

Venus Savings Accounts

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  Yield Tokens Term Yield Yield Trend
29%*
USDT 28.9% APY
XVS 0.08% APY
Instant Access
29%*
USDT 28.9% APY
XVS 0.08% APY
6.88%*
USDC 6.7% APY
XVS 0.17% APY
Instant Access
6.88%*
USDC 6.7% APY
XVS 0.17% APY
4.54%*
DAI 4.18% APY
XVS 0.36% APY
Instant Access
4.54%*
DAI 4.18% APY
XVS 0.36% APY
3.35%*
TRX 1.82% APY
XVS 1.53% APY
Instant Access
3.35%*
TRX 1.82% APY
XVS 1.53% APY
2.59%*
DOT 2.07% APY
XVS 0.51% APY
Instant Access
2.59%*
DOT 2.07% APY
XVS 0.51% APY
2.25%*
TUSD 1.55% APY
XVS 0.69% APY
Instant Access
2.25%*
TUSD 1.55% APY
XVS 0.69% APY
1.91%*
ETH 1.69% APY
XVS 0.22% APY
Instant Access
1.91%*
ETH 1.69% APY
XVS 0.22% APY
1.76%*
CAKE 1.55% APY
XVS 0.2% APY
Instant Access
1.76%*
CAKE 1.55% APY
XVS 0.2% APY
1.48%*
BCH 1.17% APY
XVS 0.3% APY
Instant Access
1.48%*
BCH 1.17% APY
XVS 0.3% APY
0.99%*
XVS 0.65% APY
AAVE 0.34% APY
Instant Access
0.99%*
XVS 0.65% APY
AAVE 0.34% APY
0.93%*
ADA 0.61% APY
XVS 0.32% APY
Instant Access
0.93%*
ADA 0.61% APY
XVS 0.32% APY
0.76%*
XVS 0.38% APY
MATIC 0.38% APY
Instant Access
0.76%*
XVS 0.38% APY
MATIC 0.38% APY
0.64%*
XVS 0.32% APY
FIL 0.32% APY
Instant Access
0.64%*
XVS 0.32% APY
FIL 0.32% APY
0.53%*
WBETH 0.29% APY
XVS 0.23% APY
Instant Access
0.53%*
WBETH 0.29% APY
XVS 0.23% APY
0.43%*
XVS 0.25% APY
LINK 0.18% APY
Instant Access
0.43%*
XVS 0.25% APY
LINK 0.18% APY
0.39%*
BTCB 0.27% APY
XVS 0.12% APY
Instant Access
0.39%*
BTCB 0.27% APY
XVS 0.12% APY
0.39%*
XVS 0.21% APY
LTC 0.17% APY
Instant Access
0.39%*
XVS 0.21% APY
LTC 0.17% APY
0.36%*
XVS 0.21% APY
DOGE 0.15% APY
Instant Access
0.36%*
XVS 0.21% APY
DOGE 0.15% APY
0.28%*
XVS 0.16% APY
XRP 0.12% APY
Instant Access
0.28%*
XVS 0.16% APY
XRP 0.12% APY
0.16%*
XVS 0.1% APY
WBNB 0.05% APY
Instant Access
0.16%*
XVS 0.1% APY
WBNB 0.05% APY
* Rates are tiered according to deposit size. Hover on rate for further details.
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Venus Key Data

Products
Savings accounts tick Yes
Key People
Joselito Lizarondo
Founder & CEO

Useful Links

Venus Contact Details

https://venus.io/

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