You can now swap crypto directly on Venus Protocol after the latest integration with PancakeSwap, the biggest DEX on BNB Chain. The integration with PancakeSwap makes Venus an all-in-one platform for DeFi and a decentralized crypto exchange. You don’t need to leave Venus Protocol to swap crypto ever again!
Venus is currently the first protocol to support a one-click supply, borrow, and repay functionality on the same intuitive user interface. The largest (PancakeSwap) and second-largest (Venus) dApps by TVL on BNB Chain working together exemplify the togetherness of a thriving ecosystem that is dedicated to innovation. Integrations such as this are sure to benefit users as platforms like Venus continue to produce a range of attractive features.
What is Venus Protocol?
Venus Protocol is an innovative dApp to lend, borrow and earn interest on your crypto. As of December 2022, Venus is the second largest dApp in terms of Total Value Locked (TVL) on BNB Chain with +$979M locked on the protocol. Venus Protocol also ranks in the top-10 DeFi dApps based on users on BNB Chain according to DappBay Rankings.
What is PancakeSwap?
PancakeSwap is the largest DEX in terms of TVL on BNB Chain. Over 2 million monthly users currently swap, trade, participate in IFOs, and do much more with PancakeSwap. Venus Protocol integrating PancakeSwap’s swap feature creates utility and saves time for Venus users.
6 Reasons to Lend and Borrow on the New Venus Protocol
The launch of Venus Protocol v4 gives you access to a wide range of new features and benefits including the Venus SBT airdrop, a new risk dashboard, the ability to swap tokens, more tokens to lend and borrow, access to Stable VAI, and Stable Rates.
1. Swap Crypto on Venus
Access all your DeFi (lend and borrow) and DEX (swap crypto) needs from within Venus Protocol. The latest Swap feature captures the important swap functions of PancakeSwap and integrates them into a user-friendly design and experience on Venus.
In the past, you had to switch back and forth between Venus and PancakeSwap to swap crypto and then lend or earn interest on Venus. Today, you can swap the crypto you want, and then lend and borrow all from within Venus Protocol in a couple of clicks. Essentially, you’re still using PancakeSwap to swap crypto without actually navigating to PancakeSwap.
From AAVE to ZIL, you can swap more than 300 cryptocurrencies on Venus with more crypto options added every day. Check the live exchange rate between the two cryptocurrencies you intend to swap, your slippage tolerance, and the minimum amount you can expect to receive.
2. Lend and Borrow More Tokens
Lend and borrow more tokens safely with the help of Isolated Markets, a new Venus Protocol v4 feature upgrade. Isolated markets isolate the risks associated with risky assets away from the main pool. Venus users have more cryptocurrencies and assets to lend and borrow without a change in the level of risk in the common pool. Win-win.
3. A New Risk Dashboard
View aggregate or individual asset metrics using the risk-management system developed with Gauntlet. Access important risk metrics in real-time on the Venus Risk Dashboard including:
- Value at Risk (VaR) measures and helps you control your exposure.
- Liquidation at Risk (LaR) measures how much you could potentially lose because of liquidations.
- Borrow Usage (BU) measures how fast funds are borrowed against deposits on Venus.
4. Venus SBT Airdrop
Venus Protocol users can earn a newly launched Venus Prime Soul Bound Token starting in January 2023. Venus SBT holders gain access to boosted yields across Venus Protocol. Stake XVS for 90 days and at least 1000 XVS tokens in the Venus Vault to get a Venus SBT. Stake and be one of the first to get a Venus Prime SBT!
5. A More Stable VAI
VAI is a stablecoin on Venus Protocol. The improved version of VAI incorporates a Stability Fee when users mint new VAI tokens. The Stability rate increases when more users mint new VAI tokens and the rate decreases when the supply of VAI drops.
6. Stable Rates = Stable Yields
Borrow and lend with confidence even during uncertain times with established Stable Rates. Don’t worry about APYs going lower when you lend or deposit crypto with Stable Rates on Venus.
How to use Venus Protocol?
You can access Venus Protocol using your Web3 Wallet or the Binance App. Learn how to use Venus Protocol using this Official Guide.
A: Using your Web3 Wallet in 5 steps:
- Use a Web3 Wallet (such as MetaMask).
- Deposit BNB for gas to your wallet.
- Deposit crypto to your wallet.
- Go to Venus Protocol and connect your wallet.
- Lend, borrow, and explore DeFi on Venus.
B: Using the Binance App:
You can also use the Venus Protocol Mini Program on the Binance App to transfer funds from your Binance Spot Wallet to Venus Protocol and earn interest on your crypto. Borrow, lend, repay loans, and claim XVS rewards straight from the Binance app.
How Does Venus Protocol Work?
Venus Protocol is an algorithmic money market system on BNB Chain where users can securely lend and borrow crypto with collateral. Lenders receive interest and borrowers gain access to capital through decentralized finance. Users can use collateral to mint synthetic stablecoins or borrow other assets on Venus.
Ongoing Venus Protocol Campaigns
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