The XVS token is the native governance token for the Venus Protocol, a decentralized finance (DeFi) money market and stablecoin minting platform built on the BNB Chain. The protocol allows users to lend and borrow various cryptocurrencies using collateral and to mint the synthetic stablecoin VAI, which is pegged to the US dollar.
XVS holders have voting rights on key decisions such as adjusting interest rates and adding new collateral types, ensuring community-led control with no team or founder allocations. The current price of XVS is approximately $4.40 USD, with a market capitalization around $78.31 million USD.
Key Insights
Platform: Venus Protocol is built on the high-speed, low-cost BNB Chain, enabling efficient transactions and a wide range of DeFi services.
Decentralization: The project emphasizes decentralization, with all governance entirely controlled by XVS community members through a voting system.
Utility: Beyond governance, XVS tokens can be staked to earn passive income or used as collateral within the protocol's lending and borrowing markets.
XVS
3.44
-4.70%