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Binance Smart Chain
A Beginners Guide to Venus Protocol
Take advantage of collateral loans to maximize earnings.
Collateral loans are prevalent among DeFi projects, and there is a reason for that. Who wouldn’t like to take a loan to make more money while earning interest on collateral? It’s an absolutely fantastic way to maximize earnings in good hands.
I want to introduce you to Venus Protocol. First collateral loan platform on Binance Smart Chain. It’s built by Swipe — a well-known crypto wallet and debit card company that Binance acquired in 2020. Very solid.
As of late February, Venus is the number one platform on BSC with $4.5B TVL. Its native token XVS has a market cap of more than $600M.
In this guide, we’ll learn about Venus Protocol and how to use the platform. In the end, you will be able to supply collateral and borrow some crypto to maximize earnings. So let’s get started.
Basics of Venus Protocol
Using Venus protocol, we can supply our cryptocurrencies as collateral and earn interest. While earning interest, we can borrow other cryptocurrencies to maximize our earnings in multiple ways.
