Venus

Halal Rating :
Uncomfortable
Last Price $5.6 Last updated:
Rank 386
1D Change 5.25 %
Market Cap $93.33m
Circulating supply 16,524,151
Maximum supply None

Crypto Overview

Categories
  • DeFi
  • Ethereum Ecosystem
  • Yield Farming
  • Binance Launchpool
  • Lending & Borrowing
  • BNB Chain Ecosystem
  • Optimism Ecosystem
  • Real World Assets
  • zkSync Era Ecosystem
  • Base Ecosystem
  • opBNB Ecosystem

Overview

Venus is a decentralized finance (DeFi) protocol built on the BNB Chain (formerly Binance Smart Chain). The XVS token serves as the protocol's governance token, allowing holders to participate in decision-making regarding protocol parameters and updates.

Purpose and Utility

The primary intended purpose of XVS is to facilitate governance of the Venus protocol. Token holders can propose and vote on changes to the protocol, including risk parameters, supported assets, and protocol upgrades. Additionally, XVS tokens can be staked to earn protocol rewards.

Business Model Analysis

The Venus Protocol's core functionality involves lending and borrowing operations, which raises concerns from an Islamic finance perspective as it involves interest-based transactions. While the governance aspect of XVS itself doesn't conflict with Shariah principles, the token's primary utility is tied to a lending protocol.

Real-World Adoption

Venus has significant adoption within the BNB Chain ecosystem, with approximately $800 million in Total Value Locked (TVL) as of 2024. The protocol maintains active governance participation, with regular proposal submissions and voting activity from XVS holders.

Development Activity

The project maintains active development with regular updates to the protocol. The team consistently implements security improvements and feature enhancements, demonstrating ongoing commitment to the platform's development.

Token Distribution

The token distribution includes allocations to the team and early investors, with vesting schedules in place. The majority of tokens are distributed through protocol usage and community initiatives.

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