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Venus price, market cap on Coin360 heatmap


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0.00026212 BTC
Market Cap (Rank#296)
3,190 BTC
Vol 24h
185.583 BTC
Circulating Supply
Max Supply
229 days agocryptopotato
Venus Protocol Launches Mission to Venus With Extra APY and Revenue Share for XVS Holders
[PRESS RELEASE – Singapore, Singapore, 30th December 2021] Venus Protocol, a decentralized money market on Binance Smart Chain, is celebrating its Mission to Venus contest by boosting the rewards distribution on its new XVS Vault over the next 120 days, offering a big increase in annual percentage yield for stakers of the native Venus token. The […]
230 days agocryptodaily
Venus Protocol Boosts APY & Revenue Share With ‘Mission to Venus’
So successful was its recent contest that the Venus Protocol has decided to extend the party until well into 2022. Venus said it will offer an increased annual percentage yield of 40 percent on all deposits inside the XVS Vault for a period of 120 days, which is the same amount of time it takes for a typical voyage to Venus from Earth. The role of $XVS Venus is a DeFi lending platform built on the Binance Smart Chain that functions as an algorithmic money market, making it entirely permissionless. Through its unique mechanism, users can instantly borrow funds in $XVS and 22 other supported cryptocurrencies without intermediaries at lower fees, with lenders incentivized through rewards and a generous APY. $XVS is a BEP-20 token used in network governance, enabling holders to propose changes to the network and vote on proposals regarding new collaterals, upgrades to the protocol and other important decisions. Users can also stake $XVS tokens to provide capital to the network. Launching the Mission to Venus The increased APY was originally intended to celebrate the Mission to Venus contest that saw over $1 million worth of rewards dished out to the community through token airdrops and NFTs. The contest, which ended Christmas Day, provided a welcome boost to the Venus ecosystem, which now boasts more than 1.2 million $XVS tokens locked up in the XVS Vault, with an average of 1,287.25 staked daily. A Venus representative said the extended rewards aim to provide additional incentives for users to participate in the network, noting that in addition to the value they provide, they also mean that $XVS serves as a great hedge against crypto market volatility. The completion of the contest marks a dramatic turnaround for the Venus Protocol that was hit by a critical price manipulation event in May. Backed by an entirely new development team that came on board in November, Venus has already issued a major update to its platform that introduced the XVS Vault to compensate those who stake $XVS with greater revenue share and voting rights via a new and soon-to-be-implemented economic model. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
249 days agonulltx
Venus Price Up 27% After AMA With Tron’s Founder Justin Sun
As cryptocurrency markets continue to trade sideways this weekend, quite a few coins are seeing double digits price gains. Today’s biggest gainer is Venus (XVS), rising over 27% in the past 24 hours, ranking it the biggest gainer on What Is Venus cryptocurrency, and why is the XVS price rising? Let’s find out. What […] The post Venus Price Up 27% After AMA With Tron’s Founder Justin Sun appeared first on NullTX.
256 days agocryptodaily
Silo: Secure and Permissionless Liquidity Protocol For All Token Assets
The DeFi world is incomplete without liquidity pools. This is because liquidity pools are one of the few things that properly define decentralization - a common concept associated with the crypto world. Liquidity protocols provide liquidity for decentralized exchanges and are responsible for facilitating decentralized trading and lending. Without these pools, DEXs won't be able to execute trades. The DeFi ecosystem is continuously expanding, with the introduction of new types of products. Currently, there are almost 15 billion dollars locked in DeFi protocols. This further attests to its expansion. While the space has the potential to grow, there are still some underlying issues that can still hamper its expansion and dominance in an ecosystem dominated by centralized exchanges. Some Challenges DeFi Protocols Face In 2021, the DeFi community witnessed several lending protocols lose their assets to hacks and price manipulation of their assets. For instance, Venus - a lending protocol running on Binance Smart Chain, witnessed insolvency due to a price manipulation of its XVS collateral asset. The protocol ended up with an accrued debt of $100M. CREAM finance also accrued debt due to a flashloan attack that catered away with $19M. The platform was also a victim of another attack two months later, leading to the loss of $130M. It was observed that shared-pool lending protocols were vulnerable to risks, especially when they whitelist a token as a collateral. A protocol is as secure as their asset. Cream Finance and others employed this model. Although Cream discovered that its whitelisted token $FTT could result in the loss of assets, it was too late to delist it, as malicious players had capitalized on the error. Though efficient, shared-pool lending protocols aren't scalable and secure. Silo Blends the Capabilities of Shared Lending Protocols and Isolated Protocols In terms of scalability and security, isolated lending protocols are better. Several protocols use this mechanism, such as Kashi market and Rari. However, Kashi market can't perform efficiently because it creates many markets for a single token asset. Rari, on the other hand, needs to create several pools to match assets because a user doesn't trust a particular token asset. Silo is a combination of both worlds. It creates a secure and efficient money market for all token assets through a permissionless lending protocol. By a permissionless market, Silo accepts all token assets as collateral. Silo protocol mitigates risks by implementing risk-isolating money markets. It creates one Silo pool for a token asset, with Ether serving as the bridge asset. The Standouts of Silo Secure Silo protocol is secure, thanks to its design. As earlier mentioned, it implements isolated money markets where one Silo is paired to a single asset. By isolating the risk of assets to a single silo, new and higher-risk assets can be used in lending markets without causing harm to assets held in other silos. Efficient Since Silo is paired to a single token asset, liquidity is concentrated in single pools and allows any token to be used as collateral to borrow other tokens. This makes the system efficient. Inclusive Silo is a permissionless protocol, which implies that anyone can create a market for any token. Silo Launches Its Genesis Token Auction Unlike other liquidity protocols, Silo will use its decentralized autonomous organization to manage liquidity. To do that, it will have to auction its Genesis token on Gnosis to decentralize the protocol and raise liquidity for the DAO. The protocol announced that it would launch its token auction from December 6 - December 9, 2021. The protocol-owned liquidity raised will be directed towards the DAO. The community can direct the funds towards achievable courses and the sustainable growth of the platform. The team will fully launch Silo’s secure markets in Q1 of 2022. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
333 days agocryptodaily
Binance Smart Chain’s Venus Project Subject To Failed Hostile Takeover Bid
Venus Project, a leading lending protocol based on the Binance Smart Chain, was subject to an unsuccessful hostile takeover bid, which was thwarted after timely intervention from the original team that managed to step in and stop the takeover bid in the nick of time. Venus Project has been originally forked from Compound and MakerDAO, both Ethereum projects. The project has a decentralized system of governance on the protocol allowing token holders to vote on any changes that need to be made to the protocol. Details Of The Proposal A team calling itself Team Bravo tabled the proposal, which passed today, and would have given voting and funding capability to a new team (Team Bravo) which would be completely separate from the original team behind the Venus Project. Team Bravo stated that their focus would be on increasing and sustaining a high XVS price for investors in the Venus Project. The proposal asked for funding in the form of 1.9 million in Venus tokens (XVS) that amounted to around $60.8 million. The funding would be allocated over a period of five years and also provided incentives for token holders to ensure that they support the proposal. Supporters of the proposal were promised that they would receive 900,000 XVS, which equals roughly $29 million if they supported the proposal. Abrupt Cancellation The proposal passed, with over 1.29 million users voting in favor of the proposal, while 1.19 million users voted against the proposal. Sixteen addresses also voted in favor of the proposal, while a further 39 voted against the proposal. However, once the proposal passed, the ‘Venus Deployer’ address canceled it. This also highlighted that whoever was behind the address has unilateral control over the protocol’s governance mechanism. The Venus Protocol Liquidation Manipulation 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. The protocol, which is the largest lending platform on the Binance Smart Chain, suffered from significant price manipulations when hostile actors manipulated the price of XVS tokens and subsequently borrowed 4100 BTC and 9600 ETH. This manipulation led to the creation of over $100 million in bad debt. This was not the first time the Venus Protocol was subjected to such price manipulations. A previous, similar manipulation had led to hackers borrowing 3000 BTC and 7000 ETH. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Venus

The live price of Venus (XVS) today is 6.1712 USD, and with the current circulating supply of Venus at 12,170,524 XVS, its market capitalization stands at 75,106,555 USD. In the last 24 hours XVS price has moved -0.3324 USD or -0.05% while 3,319,312 USD worth of XVS has been traded on various exchanges. The current valuation of XVS puts it at #296 in cryptocurrency rankings based on market capitalization.

Learn more about the Venus blockchain network and how it works or follow the price of its native cryptocurrency XVS and the broader market with our unique COIN360 cryptocurrency heatmap.

Venus Price6.1712 USD
Market Rank#296
Market Cap75,106,555 USD
24h Volume4,369,302 USD
Circulating Supply12,170,524 XVS
Max Supply29,960,733 XVS
Yesterday's Market Cap72,572,550 USD
Yesterday's Open / Close6.2954 USD / 5.963 USD
Yesterday's High / Low6.3124 USD / 5.8588 USD
Yesterday's Change
-0.05% ( 0.3324 USD )
Yesterday's Volume3,319,312 USD
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