What is VAI
VAI is a BEP-20 synthetic stablecoin pegged to the value of the U.S. dollar created by Venus Protocol. Venus is a decentralized (DeFi) algorithm money market and synthetic stablecoin protocol providing users with a crypto lending and credit system built on Binance Smart Chain. Users earn variable APY for providing liquidity to the protocol, earning interest in the form of XVS or platform native vTokens by supplying various supported cryptocurrencies as collateral for loans to other users. vTokens are tokenized representations of supplied balances on Venus Protocol. Collateral providers can use vTokens to mint VAI. Users may also borrow from the platform's supported cryptocurrencies, stablecoins, and other digital assets at collateral ratios from 40% to 75% as determined by the protocol without needing a credit check. To return the collateral, users pay off the origination balance and compounded interest. The Venus Protocol promotes decentralized community governance using the Venus Token (XVS). Users can earn interest by depositing VAI to Venus Vault or through participation in Venus liquidity mining.