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logoVai (VAI)

A Synthetic Stablecoin Built on Venus Protocol.
  • Vai is Venus Protocol’s native decentralized stablecoin that is minted and redeemed directly on the Venus platform running on Binance Smart Chain.
  • VAI is the BEP-20 native utility token of Vai and has the following use cases:
    • Over-collateralized minting where users can mint VAI on Venus using the vTokens from the underlying collateral that users have previously supplied to the protocol.
    • Earn interest by depositing VAI into the Venus Vault and participating in the Venus liquidity mining program.
    • Participate in governance to change parameters of VAI.
  • Users who have the Venus tokens can create proposals to change specific parameters of VAI by utilizing the on-chain governance system. These parameters include:
    • Max Supply: This determines the maximum number of VAI can be minted at any given point.
    • Interest Rate: The interest rate parameter controls how much in interest fees the user pays for minting VAI. The interest payments will go directly into the community funds.
    • Collateral Ratio: The liquidation prices are controlled by the collateral ratio for each synthetic stablecoin.
    • Penalty Ratio: If a liquidation occurs, there will be a penalty that must be paid to the protocol. This penalty ratio is set by the protocol.
  • As at February 4th, 2021, the total supply of VAI tokens is 49,823,820, all of which are circulating.
  • More information on the supply of VAI can be found here.