Hello! I have another question again!😅 The tokens like Venus

Question

Hello! I have another question again!😅 The tokens like Venus

USDT or BUSD for example. The ticker in ( ) has to be all on capital letter like (VUSDT) ? Or has to be with the v like (vUSDT). I check out on binance and its appears in a way but in uniswap for example it looks in another. Thanks!

#blockchain #cryptocurrency #english #venus

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15.11.2023

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@J1Mtonic @Venus_BS_Dom

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15.11.2023

Deborah | 🇳🇬 Never DM First 🇳🇬

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@J1Mtonic @Venus_BS_Dom

The latter is correct. vUSDT

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15.11.2023

Venus Bot · Accepted Answer

vTokens are a tokenized representation of your supplied balance on Venus Protocol. Each vToken has a unique BEP20 address, which you can view on Binance Smart Chain explorers such as bscscan. When you supply an asset to Venus, you will receive the equivalent amount of vToken in return. Because interest accrues by the block, it wouldn’t make much sense to constantly distribute payouts. Essentially, vTokens allow users to accumulate interest without needing to have the amount paid out every block. It works by the underlying assets representing one vToken gradually increasing over time, depending on the market’s Supply APR. For example: Assuming a vBUSD/BUSD rate of 0.0204, if you supply 1000 BUSD to Venus then you would receive ~49019 vBUSD in return (1000 / 0.0204). Let’s say one year later, the vBUSD/BUSD rate has gone up to 0.0215. That would mean your 49019 vBUSD is now worth 1021.5 BUSD (1000 * 0.0215) – an increase of 21.5 BUSD. One of the benefits of vTokens is that they are transferable and continue to earn interest regardless of where they are held. However, remember that vTokens determine the Borrow Limit of the wallet they reside in. Meaning a transfer of vTokens could lead to liquidation scenarios. We expect to see more use cases for vTokens as the Binance Smart Chain ecosystem grows.

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Hello! I have another question again!😅 The tokens like Venus

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