What is venus?
Founded in 2020 by Joselito Lizarondo, Venus is a decentralized currency and asset exchange that operates online. Users can use their digital assets as collateral and borrow up to 75% of the total value of their assets. The platform strives for complete transparency in its operations and as a result was developed on the Binance Smart Chain to achieve this.
Users who want to borrow any of the supported cryptocurrencies, stablecoins, or digital assets from Venus must put up collateral that is locked to the protocol. These assets must be over-collateralized, allowing for a loan of up to 75% of the value of the collateral. The protocol determines these collateral ratios, which are governed by the Governance process. You can borrow based on the asset's collateral ratio once these assets have been provided.
The collateral ratio is typically fixed between 40% and 75%
Venus bridges the gap between traditional financial lending and decentralized blockchain-based protocols. It allows anyone to use a fast, low-cost blockchain to offer collateral, earn interest, borrow against that collateral, and issue stablecoins on demand in seconds.