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What is Venus coin (XVS) and how does it work?

by Financial Economy

Venus (XVS) coin is built on the Binance smart chain. Venus platform is a decentralized borrowing and lending platform for stablecoins. The Venus protocol has the BEP-20 standard and they have chosen the Binance smart chain for fast, secure, low-cost transactions. Detailed information about what Venus coin XVS is and how does it work, how much it costs, how to buy, etc. is located in the continuation of the content. You can browse here for information about Bytecoin (BCN).

What is Venus coin (XVS) and how does it work?

Venus (XVS) stands out as the governance token of the Venus platform. In this way, token holders can make suggestions about platform changes and vote on the proposals. In addition, XVS has different features such as the inclusion of collateral on the platform into the system.

79% of the XVS supply used for the distribution and balancing of interest income on the platform is reserved for distribution to users who use the platform and will receive interest income.

Accordingly, XVS tokens, which are allocated 35 percent for mining to lending and borrowing pools, are distributed to users included in the pools as interest income. In addition, 30 percent of XVS, which is distributed to users who produce stablecoins, is reserved for these people and investors.

Where to buy Venus coin (XVS)? How much does the XVS cost?

Venus coin can be purchased from crypto exchanges where it is listed. It should be noted that the exchange to be traded is reliable. As of today, July 29, 2021, the price of 1 XVS is around $ 25.68. While the circulating supply of XVS is 10,513,202 units, the total supply of Venus coins is 30,000,000.

Note: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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