Vai is a decentralized stablecoin built on the Venus Protocol operating on the Binance Smart Chain.
What is Vai (VAI)?
Launched in 2019, the Venus Protocol is governed by the XVS token. This token is designed as a fair-launch cryptocurrency without any pre-allocation to its founders or team. Liquidity providers can earn it through the Binance Launchpool.
Supported by the Venus Protocol, Vai claims to be the first decentralized stablecoin on the Binance Smart Chain, backed by a variety of stablecoins and other crypto assets without central control. Support from the Binance Smart Chain enables Vai to offer its users a high-speed, low-fee money market.
The Venus protocol is managed by its native token, XVS, which can be mined by liquidity providers, protocol borrowers, and stablecoin miners.
The protocol itself offers a user-friendly crypto asset lending and borrowing solution in the decentralized finance (DeFi) ecosystem. It allows users to borrow against collateral directly at higher speeds and lower transaction fees. Venus also enables users to mint VAI stablecoin on demand by depositing at least 200% collateral into the Venus smart contract.
Individuals providing liquidity through the Venus Protocol do not need to pass credit checks and can obtain loans by interacting with the Venus decentralized application (DApp). As it is not governed by a central authority, Venus users are not subject to arbitrary restrictions and can always provide sufficient collateral for desired liquidity.
Loans are then provided from a pool contributed to by Venus users, who can earn an annual percentage yield (APY) for their contributions. The Venus Protocol also benefits from price feed sources that provide accurate pricing data.
How to Buy Vai Coin?
VAI Coin can be securely and quickly purchased through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy VAI Coin, one must first register with Binance and then send fiat currency. After sending fiat currency like Turkish Lira or dollars, one can purchase Bitcoin (BTC) and BUSD to trade in the VAI pair.
Additionally, on Binance, users can place buy orders not only at the market price but also at a lower value. To do this, use the Limit tab and enter the amount and price you want to buy at.