The channel is intended to help Venus Protocol users understand and utilise the ecosystem better.
User Education
Venus Protocol has created a new YouTube channel dedicated to informing users about its lending and credit mechanisms.
With early videos up in nine different languages, the YouTube channel is intended to educate users and guide them through the decentralized money market on BNB Chain.
Venus Protocol is a finance-based lending system where users can put up assets as collateral, which may then be borrowed by other users who pledge the same over-collateralized assets.
Users who lend assets receive a compounded interest rate, known as an Annual Percentage Yield (APY).
On the other hand, users who borrow will have to pay interest on assets or collateral borrowed.
Users can access instant and low-cost loans in stablecoins without selling off their non-stablecoin digital assets. The first video explains how.
The protocol also allows users who hold governance token $XVS to stake their assets in the Venus Protocol Vault to earn accumulated interest in $XVS.
Holding $XVS also enables users to have a say in shaping the future of the decentralized protocol.
What Is Venus Protocol:
Venus Protocol is a decentralized marketplace for lenders and borrowers with borderless stablecoin. Venus is one of the largest algorithmic money market and synthetic stablecoin protocols on BNB Chain. The Binance-backed protocol became famous around the DeFi following their hint of a massive incoming burn by founder Joselito and its Venus Reward Token VRT rewards for XVS token holders.
To learn more about Venus Protocol, see the following resources: Website | Twitter | Telegram | Medium
Source : bsc.news
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