Binance Launchpool, an initiative aimed at allowing the exchange users to access the decentralized finance (DeFi) experience, has just announced a new project.
Binance Launchpool has just presented Venus Protocol ("Venus"), an algorithmic-based money market system designed to bring a complete decentralized finance-based lending and credit system onto Binance Smart Chain for fast, low cost, transactions while accessing a deep network of wrapped tokens and liquidity.
In addition, users can also use collateral supplied to the market to not only borrow other assets but also mint synthetic stablecoins with over-collateralized positions.
It must be noted 3 projects had joined Binance Launchpool so far, meaning Venus is the forth to arrive. Thanks to it, the Launchpool users will be able to stake their BNB, BUSD and SXP tokens into separate pools to farm XVS tokens over 30 days using the new Launchpool format. Farming is scheduled to start tomorrow at 0:00 AM (UTC).
Users must wait till then to receive XVS rewards for staking tokens in the XVS pools.
On top of that, Binance will list XVS into the Innovation Zone on October 6 at 5:00 AM (UTC) and open trading for XVS/BTC, XVS/BNB, XVS/BUSD and XVS/USDT trading pairs.
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