ethereum. Upon depositing the supported tokens in Venus protocol, the corresponding vToken will be automatically generated. Liquidation Incentive: The additional collateral given to liquidators as an incentive to perform liquidation of underwater accounts. Background On 19th May, Venus Protocol encountered a liquidation of over $200 million triggered by a price spike. In spite of the ongoing general collapse of the crypto market, there might be reasons for optimism about the Venus Protocol token (XVS) price. This morning, Venus Protocol saw a massive spike in the price of XVS tokens. This is basically a hybrid protocol that combines both proof-of-stake (POS) and proof-of-authority (POA). Venus Protocol Price Prediction 2021 - 2025 - 2030 ... /** * @notice accrues interest and sets a new reserve factor for the protocol using _setReserveFactorFresh * @dev Admin function to accrue interest and set a . This was the domino effect that caused a large string of market liquidations in the XVS market. It helps to believe that the Venus protocol will have a future. Venus - Decentralized Money Market & Stablecoin Protocol Loans are paid out in LUSD - a USD pegged stablecoin, and need to maintain a minimum collateral ratio of only 110%. This upgrade will deploy a proposal that includes: The Venus Protocol is an Binance Smart Chain smart contract for supplying or borrowing assets. It allows users to borrow funds using XVS as collateral. Can Venus (XVS) Reach $1000? | Cryptolad cryptocurrency english blockchain venus сегодня в 22:59 1 ответов Global Deputy | @venusprotocol BEP20 (Binance Smart Chain) сегодня в 23:02 . Venus Protocol Seaman Xvs holders get some incentive from the liquidation fees is it part of the quarterly shared profit? This was due to price manipulation of the governance token (XVS) which led to a $100M+ of bad debt accumulation. The Venus Protocol is an algorithmic-based money market mechanism that intends to provide credit and lending to the Binance Smart Chain. Venus Protocol To Launch V2 - TokenPost Venus Protocol: A Mixture of Compound and MakerDAO on the ... On May 19, 2021 Venus Protocol's XVS token was targeted and manipulated, leading to more than $200 million in DeFi liquidations and $100 million in bad debt for the Venus Protocol. Users provide collateral to the network in exchange for APY, and borrowers pay interest. Lending And Borrowing In DEFI Explained - Aave, Compound Venus Protocol (Venus) is the top money market protocol running on Binance Smart Chain (BSC) which offers a complete decentralized finance-based lending, borrowing, and credit system on digital assets. The protocol is the first to enable users to access lending markets for Bitcoin (BTC), XRP Litecoin and other cryptocurrencies to source liquidity in real-time, thanks to its near-instant transactions. The Venus system allows users to mint VAI with a great array of supported cryptocurrencies as . Customers sourcing liquidity using the Venus Protocol do not have to pass a credit check and can quickly take out a loan by interacting with the . Users provide collateral to the network in exchange for APY, and borrowers pay interest. As the platform is fully decentralized, you control your own assets through a smart contract that is initiated through your personal wallet. With Venus, you have on-demand liquidity available globally. Venus protocol and Pancake Bunny finance have suffered a flash loand whale attack on Binance Smart Chain with the hack and hacker using large amounts of BNB to pull off this rug pull. How To Yield Farm Venus Protocol ($XVS) Token Through ... Venus Liquidation Calculator for the Community. The borrowed value is always lower… It's currently traded on 15 exchange (s) and has 20 active market (s). Venus Protocol is a decentralized lending platform that lives on the Binance Smart Chain. (BSC) Tutorial - Staking vTokens / crTokens - Flux Protocol The distribution of XVS is based on liquidity mining, where 35% of the daily rewards get distributed to borrowers . This morning, Venus Protocol saw a massive spike in the price of XVS tokens. How to mint and repay VAI stablecoin. The price is up by (0.08%) for the last 24 hours. The price spike rooted from large market orders and expectations on the VRT which allowed traders to supply and borrow higher collateral to buy more XVS. In this guide we will go through how to supply and borrow assets to earn interest on your crypto. The price spike rooted from large market orders and expectations on the VRT which allowed traders to supply and borrow higher collateral to buy more XVS. Users supply collateral to the network and earn APY for lending, while borrowers pay an interest. What are the disadvantages of Venus? Earlier in the year, the Venus Protocol's native token XVS was subject to manipulation, which led to over $200 million in DeFi liquidations and over $100 million in bad debt. This was re-factored in the latest two proposals and will pass on-chain within 5 days for lower fees on liquidations and higher collateral factors. To rectify the shortfall in the two addresses, we are putting forward a proposal whereby XVS tokens. The protocol sets this penalty ratio. Venus Protocol (Venus) is the top money market protocol running on Binance Smart Chain (BSC) which offers a complete decentralized finance-based lending, borrowing, and credit system on digital assets. At its core Venus is a money market protocol, enabling lenders to provide loans and borrowers to take out loans. . Venus Protocol Alex Lyx Do i need normal bnb or smart chain bnb ? The protocol, which is the largest lending platform on the Binance Smart Chain, suffered from significant price . For example, if the liquidation incentive is 1.1, liquidators receive an extra 10% of the borrowers collateral for every unit they close. Rug-pull. The protocol, which is the largest lending platform on the Binance Smart Chain, suffered from significant price . Funds held within the protocol can earn APY's based on… Liquidation occurs when the value of your collateral drops or the value of your loan rises. Venus XVS Calculator. The Venus Protocol Liquidation Manipulation. XVS is the native token of Venus protocol, responsible for being a "fair-launch" cryptocurrency. Venus Protocol Price Prediction 2021. . . Venus Protocol Roadmap 2021. However, the Venus protocol supplier is secured by an 'automatic liquidation' process. It does not only affect me but also all of the user in Venus protocol, if Venus can explain to the users that this behavior is WAI, could you please just update the white paper to explain clearly what triggers a liquidation (1 or 2) event like below: collateral value * ratio < borrowed value. Past this, Venus providers are secured via programmed liquidation measures, which will automatically sell the guarantee of borrowers if it falls below 75% of their acquired sum. This enables the protocol to pay back its suppliers on time to stabilize the min collateralization ratio. Venus is a DeFi protocol that offers both a lending and minting stablecoins and it runs on the Binance Smart Chain. Information about Flux Protocol on Binance Smart Chain. after the xvs token price on binance exchange was significantly manipulated (collateralized and loaned a large amount of btc and eth at a high price), the venus protocol forced the liquidation of more than 2 million xvs tokens, which directly caused a large number of users to suffer losses and liquidation , resulting in more than 100 million u.s. … Value threats. The calculator allows you to input your entire supply amount and play with borrow amounts to determine: •How much your total supply amount has to decrease to cause a liquidation event. El principal beneficio de Venus es…. Using Venus protocol, we can supply our cryptocurrencies as collateral and earn interest. Background. Customers sourcing liquidity using the Venus Protocol do not have to pass a credit check and can quickly take out a loan by interacting with the . There are several ways to perform yield farming for Venus ($XVS) tokens to greatly increase your $XVS token assets. "These funds here were lost not by those who were supposed to become liquidation' victims but by . Note 2: vToken is the certificate of ownership that provides funding to Venus. As designed, the Venus protocol will protec t the interests of asset suppliers as first priority. Venus is a complete algorithmic cryptocurrency marketplace protocol running on the Binance Smart chain (BSC), designed to provide platform users with a decentralized and secure marketplace to access loans, earn interest and mint synthetic stablecoin VAI. Bitcoin dip. It was airdropped to the protocol users sometime around 20th May 2021 at an amount of 1000 VRT to 1 XVS. These liquidation prices are controlled by the Collateral ratio for each synthetic stablecoin. Venus Protocol (Venus) is the top money market protocol running on Binance Smart Chain (BSC) which offers a complete decentralized finance-based lending, borrowing, and credit system on digital assets.Venus users are able to invest in their cryptocurrencies by supplying collateral which can be borrowed against. Venus users are able to invest in their cryptocurrencies by supplying collateral which can be borrowed against. Venus is an algorithmic money market and synthetic stablecoin decentralized finance protocol. The Venus Protocol is an algorithmic-based money market mechanism that intends to provide credit and lending to the Binance Smart Chain. Penalty Ratio: If a liquidation occurs, there will be a penalty percentage you must pay the protocol. The protocol sets a collateral ratio for each synthetic stablecoin, which should have a definite liquidation price and a penalty ratio, establishing a penalty percentage to be paid by users. The Venus system also enables the minting of stablecoins called VAI. On May 18th, Venus Protocol suffered a huge $200M+ in liquidation. This spike was thanks to large orders and expectations on the new VRT. The liquidations were primarily caused by the massive price swing of Venus' governance token, XVS. Per journalist 'Wu Blockchain', Venus had similar loopholes before, while research analyst at The Block, Igor Igamberdiev, wrote that the manipulation of XVS price "resulted in USD 200M+ DeFi liquidations and a USD 100M+ of protocol bad debt," potentially created by two separate exploiters. The lending protocol is one of the top projects on BSC with $2.52 billion in total value locked (TVL), down. Defistation is a DeFi leaderboard and analytics website for decentralized finance projects building and operating on Binance Smart Chain. What is XVS? Value threats; Venus (XVS) Price for today is $16.05, for the last 24-hours 525,602 XVS's were exchanged with a trade volume of $8,435,262. For the uninitiated, the Venus protocol offers decentralized finance (DeFi) lending and borrowing services on Binance Smart Chain. BTC. Alternatively, borrowers can use their own crypto as collateral to obtain . Venus Protocol es un mercado monetario descentralizado y una plataforma de monedas estables que opera exclusivamente en Binance Smart Chain. On 19th May, Venus Protocol encountered a liquidation of over $200 million triggered by a price spike. Borrow APYs on Venus Protocol This strategy entails liquidation risk if the value of the assets you borrow rises quickly against the assets you supply. liquidation measures that will secure suppliers on Venus by immediately liquidating For example, in May 2021 we witnessed a massive liquidation, the price fell by 77.6%. There are no pre-mined tokens for the team, founders and developers, this means the protocol is . collateral value < borrowed value. So have you ever been wondering how lending and borrowing works in DeFi? XVS and VAI. . The top two exchange pairs are tether & bitcoin. And what is the main difference betw. Liquidation occurs when the value of your collateral drops or the value of your loan rises. In addition, 0.64 XVS per block (~18,442 XVS and ~28,816 blocks) will be distributed daily. Its code is a fork of Compound and MakerDAO and it unites their functions into a one-stop-shop solution were users can keep their funds in a lending protocol to earn interest while also using it as collateral to mint stablecoins. Liquity is a decentralized borrowing protocol that allows you to draw 0% interest loans against Ether used as collateral. DeFi BSC Lending Protocol Venus (VXS) to Deploy a Grant Program to Cover the Losses from Massive Liquidation Amidst the increasing number of exploitations of the Binance Smart Chain-based DeFi protocols, Venus is the latest. cryptocurrency english blockchain venus 20:49 14.12.2021 2 ответов Global Deputy | @venusprotocol . Venus Protocol's XVS token was targeted and manipulated, leading to more than $200 million in DeFi liquidations and $100 million in bad debt. Earlier in the year, the Venus Protocol's native token XVS was subject to manipulation, which led to over $200 million in DeFi liquidations and over $100 million in bad debt. Venus Reward Token is a new token launched by the Venus team as an additional mining distribution to lenders and borrowers of the protocol. Synthetic Stablecoin Protocol v1 . Liquidity providers receive redeemable LP in return that can be used to purchase other assets as a means of hedging. The protocol is the first to enable users to access lending markets for Bitcoin (BTC), XRP Litecoin and other cryptocurrencies to source liquidity in real-time, thanks to its near-instant transactions. Venus Protocol is an algorithmic-based money market system that aims to bring lending and credit-based system on the Binance Smart Chain. Venus users are . We'll ignore the current market volatility and take a look at the fundamentals - the use case, tokenomics, team members, public profile, and community sentiment. Venus token. Through the vToken contracts, accounts on the blockchain supply capital (BNB or BEP-20 tokens) to receive vTokens or borrow assets from the protocol (holding other assets as collateral). Venus is built and hosted on the Binance Smart Chain, which means that its token, XVS, is a BEP-20 token. Automatic liquidation protocols are also in place to restore the value of each money market when the collateralized asset value falls below the borrowed value. vTokens and crTokens are subject to liquidation on Venus or Cream when the collateral rate decreases below a pre-defined collateral rate. Simply put, borrowers on Venus can get instant . Venus has two tokens on the platform. The protocol is the first to enable users to access lending markets for Bitcoin (BTC), XRP Litecoin and other cryptocurrencies to source liquidity in real-time, thanks to its near-instant transactions. Venus (XVS) is a cryptocurrency token. Liquidation contracts enforce lengthy withdrawal periods to increase predictability of liquidation demand, an advantage over a traditional keeper system which relies on going to the market for bids on the collateral. Venus protocol is a decentralized marketplace built on Binance Smart Chain, where lenders can provide liquidity on various assets to earn interest. About the week before that XVS showed its All Time High $147.02. Venus liquidated part of my assets even tho the % was not met. 2 No ve mb e r 2 7 , 2 0 2 0 S wi p e W a l l e t Ab s tr a c t: V e n u s P ro t o co l ("V e n u s") i s a n a l g o ri t h mi c-b a se d mo n e y ma rke t syst e m d e si g n e d t o b ri n g a co mp l e t e d e ce n t ra l i ze d f i n a n ce -b a se d l e n d i n g a n d cre d i t syst e m o n t o B i . This process involves prompt liquidation of borrower's collateral once it goes below seventy-five percent of their borrowed value. "Venus Protocol liquidations are no different than when users open longs on margin. . In our example, if BNB, SXP and XVS drop. How to remove liquidty. There is no centralized third party in the mix that could ever freeze or seize your tokens. VAI is a BEP-20 stablecoin and it is pegged to the value of the US dollar. The Venus founder added that no protocol glitches occurred. The absence of risk management in the past This is the biggest drawback of the project. Venus Protocol faced massive liquidations of over $200 million on Wednesday due to a possible price manipulation of its native XVS token. the protocol design is based on the architecture and fork of Compound and MarkerDAO and is synchronized to the Venus platform, combining the . In addition to the collateral, the loans are secured by a Stability Pool containing LUSD and by fellow . The Venus Protocol Liquidation Manipulation. Hoy en día, Venus tiene más de 18,000 usuarios y casi $ 2 mil millones de dólares de valor total bloqueados en el protocolo. Binance Smart Chain's most popular lending protocol, Venus, experienced a massive string of market liquidations totaling over $200M on May 18, and Venus, itself, has been left with $100M in bad debt because of it. Venus Protocol is a synthetic stablecoin-powered decentralized money market system on top of Binance Smart Chain that offers crypto-backed lending and borrowing solutions to users without any third parties, custody over funds, or centralized entities exercising increased control over the protocol. Answer: The Venus Team learned that the higher liquidation fee would cause conflicts with the higher collateral factors in the event there is a liquidation chain. Not sure what happened, but when BTC went down, nothing happened, i added more assets and this morning, i got liquidated a 3rd part of my staked assets in Venus, this happened on all the wallets i manage. The absence of risk management in the past This is the biggest drawback of the project. The price spike rooted from large market orders and expectations on the VRT which allowed traders to supply and borrow higher collateral to buy more XVS. TVL has continued to increase since launch and in August it surpassed Cream Finance and Venus protocol to become the third . This is a series of exploits on XVS with the latest victim is XVS. Venus protocol is designed to be a fully decentralized money market protocol. If you want to redeem the original tokens, you can swap back on Venus platform. BSC-based decentralized stablecoin system Venus Protocol announced that Venus v2 is almost ready. About the week before that XVS showed its All Time High $147.02. In this video, we are showcasing a way th. * @dev Will fail unless called by another vToken during the process of liquidation. Launch Venus Venus protocol allows the user's to borrow funds, by depositing XVS as collateral. For example, in May 2021 we witnessed a massive liquidation, the price fell by 77.6%. Background. Circulating Supply 30,000,000 max. At the beginning of the Binance LaunchPool, 6,300,000 XVS were created and issued. The way liquidations work in the Venus Protocol are no different than those that happen when users go margin "long". (Both in $ and % amount) •How much your Price per coin supplied has to decrease to cause a liquidation event. How are the supply and borrow rates determined? While earning interest, we can borrow other cryptocurrencies to maximize our earnings in multiple ways. XVS is the governance token, and VAI is a stablecoin that can be minted. Venus Protocol的XVS令牌被定为目标并加以操纵，导致Venus Protocol的DeFi清算超过2亿美元，坏账达1亿美元。 今天早上，金星协议（Venus Protocol）见证了XVS代币价格的大幅上涨。 高峰是由于新 Basics of Venus Protocol. You use your collateral to borrow more collateral to increase your position which you can re-leverage and adjust. Governance. What are the disadvantages of Venus? Being entirely governed by the Venus Protocol, XVS isn't allocated to the members of the team, advisors, etc. It helps to believe that the Venus protocol will have a future. Background. 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