Vai Price (VAI)

What Is Vai (VAI)?

Vai is a decentralized stablecoin built on the Venus Protocol that runs on the Binance Smart Chain.

Venus Protocol, launched in 2019, is governed by the XVS token. The latter was designed to be a fair launch cryptocurrency with no preliminary allocation to the project’s founders or its team. It can be earned through Binance Launchpool by providing liquidity to the protocol.

Vai, powered by the Venus Protocol, claims to be the first decentralized stablecoin on the Binance Smart Chain that is backed by a basket of stablecoins and other crypto assets without centralized control. Being powered by Binance Smart Chain allows Vai to offer its users a high-speed, low-fee money market.

Who Are the Founders of Vai?

XVS is distributed via a fair-launch mechanism with no founder and team allocations. It is backed by a well-funded organization Swipe, a Binance portfolio company. Swipe was founded by Joselito Lizarondo, who is also the company’s current CEO.

What Makes Vai Unique?

The Venus protocol is governed by its native token XVS which can be mined by liquidity suppliers, protocol borrowers and stablecoin miners.

The protocol itself introduces an easy-to-use crypto-asset lending and borrowing solution to the decentralized finance (DeFi) ecosystem. It enables users to directly borrow against collateral at higher speed and lower transaction fees. Venus also allows users to mint the VAI stablecoin on demand by depositing at least 200% collateral onto the Venus smart contract.

The people who source liquidity through the Venus Protocol do not have to pass credit checks and can take out a loan by interacting with the Venus decentralized application (DApp). Due to the fact that it is not governed by a central authority, Venus users are not subjected to arbitrary restrictions and can always source desired liquidity by posting sufficient collateral.

The loans are then provided from a pool that is contributed by the Venus users, who can, in turn, receive an annual percentage yield (APY) for their contributions. The Venus Protocol also utilizes price feed oracles that provide accurate pricing data.

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How Many Vai (VAI) Coins Are There in Circulation?

Vai (VAI) has a circulating supply of 160,567,211 tokens and a total supply of 160,704,318 as of March 2021.

How Is the Vai Network Secured?

The Vai network is fully secured by the Binance Smart Chain. It is compatible with the Ethereum Virtual Machine (EVM) and can run even if the Binance Chain itself goes offline. Binance Smart Chain makes use of the proof-of-staked authority (POSA) consensus mechanism.

Where Can You Buy Vai (VAI)?

Vai (VAI) can be traded on the following exchanges:

• Binance
• Venus
• PancakeSwap

Read CoinMarketCap’s dedicated guide on how to buy Bitcoin if you want to learn more.