Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Venus Protocol To Integrate Cardano (ADA) & Facilitate Liquidity Mining

Venus Protocol To Integrate Cardano (ADA) & Facilitate Liquidity Mining

Kelly Cromley by Kelly Cromley
Feb 15, 2021
in Market News, News
Reading Time: 2 mins read
0

As one of its initiatives in 2021 vision, Venus Protocol, a decentralized algo-based money market and stablecoin network, confirmed today that it would embed Cardano (ADA). Last November, the mainnet of the Venus Protocol went live with deployment solely on the Smart Chain of Binance.

With respect to blockchain of Binance, the covenant creates a decentralized finance (DeFi) money market network and already has more than 18,000 users with almost $2 billion in Total Value Locked (TVL).

To generate interest depending on the demand for a particular asset, users of the covenant may borrow crypto or lend their holdings. Accounts stored on the blockchain offer capital (BNB or BEP20 tokens) via the vToken Contracts to gain vTokens or borrow tokens from the covenant.

The foremost decentralized stablecoin VAI, hosted on Binance Smart Chain, is provided by Venus Protocol. Without centralized operation, the stablecoin is backed by a collection of stablecoins and crypto tokens on the Binance Smart Chain. In this way, VAI is defined by similar collateral given to the covenant. Venus vToken Contracts monitor those balances and fix lending rates algorithmically.

Following the roll out of Mainnet last November, covenant users were capable of providing and borrowing Swipe (SXP), Binance Coin (BNB), USDT (USDT), USDC (USDC), BUSD (BUSD), and Venus (XVS) to gain rewards related to liquidity mining. Filecoin (FIL) and DAI, among many others, have been embedded ever since. As per the blueprint for 2021, subsequent to this series, Cardano (ADA) will be included:

Cardano (ADA) has grown exponentially to be among the world’s largest 4 cryptocurrencies in terms of market value. Transaction volumes have also increased sharply as nearly all major cryptocurrency exchanges have listed Cardano’s native token ADA. This asset would also be recommended for inclusion in the money market.

The Swipe group also stated that Venus DEX, a decentralized order book-centered exchange facilitating high-frequency trades and provide market-maker perks for traders, will be built next year. Furthermore, after the core group sees “farming networks harness Venus for high frequency transactions and loan issuances, which generates hundreds of thousands of dollars in everyday transactions,” the covenant would impose an “origination fee.”

For creating and delivering a loan (depositing/withdrawing) using the covenant, a minor charge of 1 bps (basis point), equaling 0.01%, will be included under Venus Origination costs. At that rate, the covenant funds which can be used for all governance requirements, including buying back and burns, rewards, etc.) can carry roughly more than $100,000 in normal charges without affecting the regular creditor and lender offering the high yield interest rates.

Previous Post

Multiple Swiss banks Become Member of Blockchain Compliance Platform WeCanComply

Next Post

Blockchain Investment Firm Plans to Set Up Crypto-Centric Smart City in Nevada

Related Posts

aethir-and-project-zero-partner-to advance-ai-native-web3

Aethir and Project Zero Forge Future of AI-Native Web3

by Kelly Cromley
Jun 17, 2025
0

Aethir and Project Zero have entered into a forward-thinking partnership that aims to redefine the convergence of blockchain technology and...

agii-unveils-secure-logic-shards

AGII Unveils Secure Logic Shards to Reinvent Smart Contracts

by Kelly Cromley
Jun 17, 2025
0

AGII has introduced a transformative technology called Secure Logic Shards, aiming to redefine smart contract execution in the Web3 landscape....

World’s First Spot XRP ETF Crashes 20% on Launch Day

World’s First Spot XRP ETF Crashes 20% on Launch Day

by Mostafijur Rahman
Jun 16, 2025
0

In a dramatic twist that caught both institutional and retail investors off guard, the world’s first spot XRP ETF crashed...

AEON partner with Bybit

Bybit Integrates AEON to Power Seamless Web3 Payments

by Kelly Cromley
Jun 16, 2025
0

AEON, a next-generation cryptocurrency payment infrastructure provider, has joined forces with global crypto exchange Bybit to deliver streamlined Web3 mobile...

daGama announces partnership with Stability World AI

daGama and Stability World AI Join Forces to Advance Web3 AI Tools

by Kelly Cromley
Jun 16, 2025
0

Web3-focused platform daGama has unveiled a strategic alliance with Stability World AI, an artificial intelligence firm built on BNB Chain....

Bitget partners with UNICEF

Bitget and UNICEF Unite to Promote STEM Skills for Girls

by Kelly Cromley
Jun 16, 2025
0

Cryptocurrency exchange Bitget has entered a strategic three-year partnership with UNICEF Luxembourg to promote digital literacy, STEM education, and blockchain...

Next Post
Blockchain Investment Firm Plans to Set Up Crypto-Centric Smart City in Nevada

Blockchain Investment Firm Plans to Set Up Crypto-Centric Smart City in Nevada

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

aethir-and-project-zero-partner-to advance-ai-native-web3
Market News

Aethir and Project Zero Forge Future of AI-Native Web3

by Kelly Cromley
Jun 17, 2025
agii-unveils-secure-logic-shards
Market News

AGII Unveils Secure Logic Shards to Reinvent Smart Contracts

by Kelly Cromley
Jun 17, 2025
AEON partner with Bybit
Market News

Bybit Integrates AEON to Power Seamless Web3 Payments

by Kelly Cromley
Jun 16, 2025
daGama announces partnership with Stability World AI
Market News

daGama and Stability World AI Join Forces to Advance Web3 AI Tools

by Kelly Cromley
Jun 16, 2025
Bitget partners with UNICEF
Market News

Bitget and UNICEF Unite to Promote STEM Skills for Girls

by Kelly Cromley
Jun 16, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • ETF
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple
  • Ripple News
  • Solana News
  • Tether News
  • XRP
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree