How to mint rhoTokens using Venus vTokens? And Why should you?
That’s right! Flurry Protocol is accepting deposits in vToken issued by Venus Protocol. Users can now mint rhoTokens by depositing vUSDT, vUSDC or vBUSD on Flurry DApp to start the best yield farming experience. Venus users can now enjoy additional rewards by depositing vTokens on Flurry DApp.
vTokens are available only on Binance Smart Chain (BSC), hence, such a conversion from vTokens to rhoTokens is limited to BSC at the moment. Users can deposit VenusUSDT, VenusUSDC or VenusBUSD (vTokens) to get rhoUSDT, rhoUSDC and rhoBUSD in return.
By holding rhoToken, existing Venus platform users will be able to enjoy extra reward on top of the existing yield on Venus as the Flurry algorithm is constantly searching for the best yield farming outcome, which will move the fund from one protocol to another, bringing in the safest, steadiest and the most profitable yield farmed interest to all rhoToken holders.
It is a bargain for vToken users as long as you mint for rhoTokens.
Deposit your vToken and mint for rhoToken now to enjoy the hussel free yield farming experience by doing nothing — because Flurry Finance does everything automatically for you.
You can mint rhoToken using vToken on the Earn page on Flurry DApp following the steps below:
1. On the Earn page, open the stablecoin dropdown list
2. Click on the stablecoin you wish to deposit i.e. if you wish to convert Venus USDT (vUSDT), open USDT
3. You will see the Venus USDT Deposit Token option.
4. After selecting the Venus USDT Deposit Token option (as demo here), you will be able to see the unit.
5. Key in the amount of vUSDT, vUSDC or vBUSD (vUSDT is used as demo below) and the corresponding amount of rhoTokens will be revealed right away.
If you are new to the platform (Flurry DApp), check out our user guide which will walk you through the conversion every step of the way. Click to Read
Enjoy the best yield farm outcome — only available on Flurry Finance — making DeFi easier every step of the way.
More to read:
Understanding the Flurry APR on rhoToken: Click to Read
What is vToken?
vToken is the Venus wrapped token with an underlying deposit. Venus Protocol offers a range of token wrapping which includes Venus USDT (vUSDT), Venus USDC (vUSDC) and Venus BUSD (vBUSD) etc. They are all cryptocurrencies which operate on the Binance Smart Chain platform. The Venus Protocol is a decentralized money market built on the Binance Smart chain that enables users to borrow and supply collateral onto the platform without central authority or control.
What is rhoToken?
rhoToken is a cross-chain token which it pegged 1:1 to its underlying stablecoin.
The Flurry protocol automates the yield farming process with rhoTokens, sparing users all the tedious task of switching in and out of DeFi products on different chains to generate yield with your deposit. In return, you will get rhotokens (rhoUSDC, rhoUSDT, rhoBUSD) which you can hodl, trade and spend as a medium of exchange while earning an interest automatically — something that stablecoin couldn’t do.
About Flurry Finance
FLURRY is a DeFi protocol offering cross-chain yield aggregation with rhoToken, which is pegged 1:1 to its underlying stablecoin. It automatically farms for yields across different DeFi protocols without locking up funds or interest earned by diversifying DeFi product risk, resulting in lower gas fees.
With a team composed of graduates from Cornell University, Stanford University and Imperial College London, and pedigrees from JP Morgan, Barclays Capital, KBC Financial Products, Daiwa Capital Markets and Societe Generale, Flurry Finance is well-equipped to take the DeFi sector by storm.
Contact Us
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Website: https://www.flurry.finance/
