What happened Venus protocol?
On May 18, Binance Smart Chain’s most popular lending protocol, Venus, saw a large run of market liquidations totalling over $200 million, leaving Venus with $100 million in bad debt. The enormous price volatility of Venus’ governance token, XVS.20.05.2021, was the primary reason of the liquidations.
What can you do with Xvs tokens?
The XVS token is utilized in network governance, where XVS holders may propose network improvements and vote on ideas such as adding additional collaterals, upgrading the protocol, and other key features.
Who owns Venus protocol?
“The BSC-based platform is a fork from Compound (COMP) and Maker (MKR), according to Joselito Lizarondo, inventor of Swipe Wallet and Venus Protocol” (MKR).
How do you farm on Venus?
– Strategy 1: Providing assets alone. – Providing assets and borrowing assets to farm with somewhere. – Strategy 2: Borrow with numerous assets and leverage supply. – Strategy 3: Providing assets while also borrowing the same item to restock. – Farming ACS at the same time.