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Venus Reward Token

VRT

Price
$0.000322
9/25/2022, 8:02:04 PM
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Market

Market stats

Market cap

$7.1M

Volume (24h)

$78,241.27

Circulating supply

22.0B VRT

All time high

$0.0200

Price change (1h)

-0.14%

Price change (24h)

+0.52%

Price change (7d)

-3.29%

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Venus Reward Token is on the decline this week.

The price of Venus Reward Token has fallen by 3.29% in the past 7 days. The price increased by 0.52% in the last 24 hours. In just the past hour, the price shrunk by 0.14%. The current price is $0.000322 per VRT. Venus Reward Token is 98.39% below the all time high of $0.02.

The current circulating supply is 21,999,981,080 VRT.

About

What Is Venus Reward Token (VRT)?

Venus protocol (VRT) is a decentralized marketplace built onthe BSC (Binance Smart Chain) for lenders and borrowers with decentralized stablecoins. The Venus Protocol aims to provide users with a decentralized and secure marketplace to obtain loans, earn yields, and mint synthetic stablecoins. Minting means creating new coins by validating information and recording that information into the blockchain.

The project aims to enable the decentralized stablecoin to be backed by a basket of stablecoins and crypto assets without centralized control. The funds held within the protocol aim to earn a yield based on the market demand for that asset. This yield then can be used as collateral for borrowing assets or minting stablecoins as well. Further, users can use VRT collateral by instantly borrowing from the Venus protocol without trading fees or any other cost directed on the chain. So, with Venus, users have on-demand liquidity available globally. Also, users can tokenize their assets utilizing the Binance Smart Chain and receive portable VRTs (the native token of the project) to move around cold storage or transfer to other users. Cold storage is an offline wallet used for storing cryptocurrencies, thereby protecting the wallet from unauthorized access, cyber hacks, and other vulnerabilities.

As the protocol runs entirely on the Binance Smart Chain, the problem of congestion, lack of cross-chain compatible assets, and high transaction fees is solved. Thus, the Venus protocol aims to enable anyone to utilize a high-speed and low-transaction cost blockchain by leveraging the Binance Smart Chain to supply collateral, borrow against that collateral, earn interest, and mint stablecoins on-demand.

Apart from VRT, XVS is the governance token of the protocol, which is distributed via a fair-launch mechanism for the community. The protocol is controlled by the miners of Venus tokens. The governance features include: 

  • Adding new stablecoins or cryptocurrencies to the protocol 

  • Setting fixed interest rates for synthetic stablecoins 

  • Adjusting variable interest rates for all markets 

  • Delegating protocol reserve distribution schedules

  • Voting on protocol improvements/proposals

VRT is distributed to users over four years, while the XVS (governance token of the project) distribution doubles to around eight years to complement the reductions, which are subject to governance changes and on-chain proposals. Further, users can store and perform the transactions securely with the Swipe crypto wallet of the project.

History of Venus Reward Token (VRT)

The whitepaper on Venus Reward Token (VRT) was released on November 27, 2020. The project had a total supply of thirty million VRT.

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FAQ

What is the current price of Venus Reward Token?

The price of 1 Venus Reward Token currently costs $0.000322.

What is the market cap of Venus Reward Token?

The current market cap of Venus Reward Token is $7.08M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Venus Reward Token?

The all-time high of Venus Reward Token is $0.0200. This all-time high is highest price paid for Venus Reward Token since it was launched.

What is the 24 hour trading volume of Venus Reward Token?

Over the last 24 hours, the trading volume of Venus Reward Token is $78.24K.

What other assets are similar to Venus Reward Token?

Assets that have a similar market cap to Venus Reward Token include TokenClub, Banano, FortKnoxster, and many others. To see a full list, see our comparable market cap assets.

How many Venus Reward Token are there?

The current circulating supply of Venus Reward Token is 22 billion.

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