ApolloX is thrilled to announce a strategic partnership with <a href="https://venus.io/" rel="noopener noreferrer nofollow">Venus Protocol</a>, a decentralized finance (DeFi) algorithmic money market protocol on the BNB Chain.To maximise capital efficiency for ApolloX users and vUSDT holders, ApolloX DEX has added Venus USDT (vUSDT) as collateral under <a href="https://apollox.zendesk.com/hc/en-us/articles/9081036390169" rel="noopener noreferrer nofollow">Multi-Assets Mode</a>. vUSDT is a cryptocurrency issued by Venus Protocol that operates on the BNB Smart Chain (BEP20). It is a vToken, which is the primary means of interacting with the Venus Protocol.By minting vUSDT on Venus Protocol, users can <a href="https://app.venus.io/market/usdt" rel="noopener noreferrer nofollow">earn APY interest</a> on their supplied USDT, while they use vUSDT as collateral to trade crypto futures on ApolloX DEX.“We’re passionate about empowering borrowers and suppliers on Venus with new ways of accessing liquidity and earnings on-demand. Our partnership with ApolloX presents a new use case for vUSDT in the thriving crypto derivatives market,” said Danny Cooper, BD &amp; Community Lead of Venus Protocol.“DeFi users today are looking to generate the best yield from their assets. ApolloX is proud to work with Venus Protocol to offer vUSDT as collateral on our platform, thus opening a path for users to experience both ApolloX and Venus,” said the core team at ApolloX.ApolloX Multi-Assets Mode supports:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/79f3ca573ee44942b33d3999df638d0f.png" />Note:<ul><li>Please remember that vTokens determine the Borrow Limit of your wallet. Transfer of vTokens could lead to liquidation scenarios on Venus.</li><li>Please make sure you have enough vTokens left in your wallet if you have borrowed any tokens.</li><li>5% of vUSDT will be burned during auto-exchange.</li></ul>ApolloX will hold a vUSDT futures trading campaign in the near future — stay tuned to our official channels!About Venus ProtocolVenus Protocol is an algorithmic-based, money market system designed to enable decentralized lending and borrowing on the Binance Smart Chain. Cryptocurrency holders can utilize their assets to supply collateral to the network, earning passive income through variable APY. Borrowers can access instant and low-cost loans in stablecoins without selling their non-stablecoin digital assets.Venus uses collateral supplied to the market to borrow against crypto assets and mint synthetic stablecoins with over-collateralized positions, backed by a basket of cryptocurrencies, to protect the protocol. This ensures a secure credit environment where lenders receive a compounded interest rate annually, paid per block, while borrowers pay interest on the cryptocurrency borrowed.

ApolloX and Venus Protocol partner to help users maximise yield with vUSDT

APX

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