XVS, or Venus, is a decentralized finance (DeFi) protocol built on the Binance Smart Chain. It enables users to lend and borrow assets while earning interest on their holdings. The platform supports various cryptocurrencies and stablecoins, making it versatile for users. Borrowers can take loans by providing collateral, which is often other cryptocurrencies. Lenders can deposit their assets into Venus to earn interest, with rates determined by supply and demand dynamics.XVS is also the native utility token of the Venus protocol. Users can stake XVS tokens to participate in governance, making decisions about protocol upgrades and changes. This community-driven aspect enhances user engagement and allows for decentralized decision-making.Venus aims to provide financial services that are accessible to everyone without intermediaries, showcasing the potential for a more inclusive financial ecosystem.
Bit Digital Acquires 31,057 ETH Through $150M Convertible Notes Offering
Bit Digital Inc. (Nasdaq: BTBT) has purchased 31,057 Ether (ETH) using proceeds from its recently completed $150 million convertible notes