Venus

Thing ∙ ID: 11081

Venus is an algorithmic money market system on Binance Smart Chain, offering decentralized lending and credit services. Users can supply crypto collateral to borrow assets or mint synthetic stablecoins. The protocol sets automated interest rates based on market demand. Lenders earn compounded annual interest, while borrowers pay interest on loans. Venus's unique feature is the ability to create over-collateralized synthetic stablecoins backed by cryptocurrencies. The platform leverages Binance Smart Chain for efficient transactions and access to wrapped tokens and liquidity, distinguishing itself from other money market protocols.