So why is this saying there was a x8000 increase

Question

So why is this saying there was a x8000 increase

over the last 7 hours and it's on BSC scan and can't be swapped that make no sense if it's listed on trust wallet why can't it be swapped on trust wallet so I can't do anything with it? And if the value decreases it will liquidize my collateral but if it increases it won't increase my collateral that's not very fair and false information and can cause someone to lose a lot of money

#blockchain #cryptocurrency #english #venus

0

05.05.2024

1 ответов

11 просмотров

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 vUSDT/USDT rate of 0.0204, if you supply 1000 USDT to Venus then you would receive ~49019 vUSDT in return (1000 / 0.0204). Let’s say one year later, the vUSDT/USDT rate has gone up to 0.0215. That would mean your 49019 vUSDT is now worth 1021.5 USDT (1000 * 0.0215) – an increase of 21.5 USDT. 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.

210 похожих чатов

So why is this saying there was a x8000 increase

1 ответов

Похожие вопросы