Venus Protocol — Main Network Launched

The Venus Protocol has officially launched its main network on Binance Smart Chain. Users can now access a high-speed, low fee, money market that offers users to mint the protocol’s first synthetic stablecoin called VAI.

The Venus Protocol is governed by its native cryptocurrency XVS which can now be mined (farmed) by liquidity suppliers, protocol borrowers, and stablecoin minters.

Venus Protocol users can now supply and borrow the following assets to participate in liquidity mining incentives and use these assets to mint VAI:

• Swipe (SXP)
• Binance Coin (BNB)
• USDT (USDT)
• USDC (USDC)
• BUSD (BUSD)
• Venus (XVS)

Use Venus

To start using Venus follow the steps below:

1. Set up a Binance Smart Chain Metamask Wallet
2. Deposit BNB (BEP-20/BSC) into the Binance Smart Chain Metamask Wallet address for gas
3. Deposit any other supported cryptocurrency (BEP-20/BSC) to your Wallet. (Note: This can be done via Binance Bridge or Binance.com)
4. Go to app.venus.io and follow the instructions to use the protocol.

We are excited to have launched the world’s first all-in-one money market that enables native synthetic stablecoins. We will release governance and developer documentation in the coming weeks.

Thank you.