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Summary of Vai (VAI)
Key Points
- Vai is a decentralized stablecoin built on the Venus Protocol, running on the Binance Smart Chain.
- Venus Protocol is governed by the XVS token, with no founder or team allocations.
- Vai is backed by a basket of stablecoins and crypto assets, offering high-speed, low-fee money markets.
- XVS token can be mined by liquidity suppliers, protocol borrowers, and stablecoin miners.
- Venus Protocol introduces an easy-to-use crypto-asset lending and borrowing solution.
- Vai has a circulating supply of 160,567,211 tokens and a total supply of 160,704,318 as of March 202
About Vai: Empowering the Future of Decentralized Finance
Introducing Vai (VAI): A Comprehensive Overview
Vai is a decentralized stablecoin, meticulously crafted on the Venus Protocol, which seamlessly operates on the Binance Smart Chain.
Venus Protocol, inaugurated in 2019, is governed by the XVS token, a cryptocurrency conceived with fairness in mind. Notably, it was designed to eschew preliminary allocations to the project’s founders or team members, ensuring a level playing field. Instead, users can earn XVS by providing liquidity to the protocol through Binance Launchpool.
Vai, fueled by the Venus Protocol, proudly asserts its position as the pioneering decentralized stablecoin on the Binance Smart Chain, collateralized by a diversified basket of stablecoins and other crypto assets, free from centralized governance. By harnessing the power of Binance Smart Chain, Vai is able to provide its users with a high-velocity, low-cost money market experience.
The Visionaries Behind Vai: Meet the Founders
XVS is distributed through a fair-launch mechanism, devoid of founder and team allocations, ensuring a truly decentralized and community-driven approach. Notably, it is backed by Swipe, a well-funded organization and a Binance portfolio company, founded by Joselito Lizarondo, who currently serves as the company’s CEO.
Unveiling the Unparalleled Attributes of Vai
The Venus protocol is governed by its native token, XVS, which is mineable by liquidity suppliers, protocol borrowers, and stablecoin miners alike.
The protocol pioneers a seamless crypto-asset lending and borrowing solution within the decentralized finance (DeFi) ecosystem, empowering users to borrow against collateral with unprecedented speed and at significantly reduced transaction fees. Furthermore, Venus facilitates the on-demand minting of the VAI stablecoin, contingent upon the deposition of at least 200% collateral onto the Venus smart contract.
Through the Venus Protocol, individuals can access liquidity without undergoing credit checks, and instead, can seamlessly secure a loan by interacting with the Venus decentralized application (DApp). As a decentralized system, Venus operates independently of central authority, thereby liberating users from arbitrary restrictions and enabling them to tap into desired liquidity by posting sufficient collateral.
The loans are then sourced from a collective pool contributed by Venus users, who, in return, can earn an annual percentage yield (APY) on their contributions. Furthermore, the Venus Protocol leverages price feed oracles to ensure access to precise and reliable pricing data.
What Is the Circulating Supply of Vai (VAI) Coins?
As of March 2021, Vai (VAI) boasts a circulating supply of 160,567,211 tokens, with a total supply of 160,704,318 tokens.
The Vai Network’s Security Mechanisms: A Robust Defense
The Vai network is fortified with the robust security of the Binance Smart Chain, ensuring seamless compatibility with the Ethereum Virtual Machine (EVM). Notably, the network remains operational even in the event of the Binance Chain experiencing downtime. The Binance Smart Chain employs the proof-of-staked authority (POSA) consensus mechanism, guaranteeing a secure and reliable environment.
Acquiring Vai (VAI): A Comprehensive Guide to Exchanges and Marketplaces
Vai (VAI) is listed on a variety of prominent cryptocurrency exchanges, providing users with multiple avenues for trading and investment.
- Binance, a behemoth in the cryptocurrency exchange landscape
- Venus, a decentralized money market protocol
- PancakeSwap, a prominent decentralized exchange
Delve into CoinMarketCap’s comprehensive guide on purchasing Bitcoin, where you’ll uncover the intricacies of acquiring this pioneering cryptocurrency.
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