What is VVS Finance (VVS)? We will learn detailed information about the VVS Finance project together in today’s article!
What is VVS Finance?
VVS Finance is a decentralized exchange using AMM (automated market making), built on the Cronos platform.
VVS Finance aims to challenge Yearn Finance, Clover Finance and DFI Money. VVS’s trading platform is similar to Uniswap. VVS Finance is also known as “Crypto.com Unified Swap (Cronos)”. Users can convert between two supported Tokens by paying an exchange fee, which is currently close to 0.3%. VVS Finance is governed by its native token, VVS.
To put it more simply, VVS Finance was born with the aim of making Decentralized Finance (DeFi) easy and interesting for all users. This cross-chain DeFi platform powered by Cronos blockchain will use Automated Market Makers (AMM). VVS Finance provides a platform for users to easily exchange tokens and earn income while having cheap transaction settlement fees and limited price slippage.
Highlights of VVS Finance
Built on Cronos blockchain, VSS Finance takes full advantage of the advantages of this platform:
- IBC integration
- Compatible with EVM
- Low payment costs and very fast transaction speed
Operating Mechanism of VSS Finance
We have briefly learned what VSS Finance is? So how does this project work? Continue watching below:
VVS Finance is the first decentralized Automated Market Maker (AMM) Exchange built natively on the Cronos blockchain and will provide liquidity to a suite of decentralized applications within the Cronos ecosystem.
This past year has seen tremendous growth in the Decentralized Finance (DeFi) ecosystem, which is pioneering new models of personal financial autonomy and opportunity. However, for newcomers, DeFi can be very difficult to access: new terms, foreign procedures, unclear interfaces,…
Stemming from this need, a team of developers came together determined to build DeFi products for everyone, with the goal of bringing great protocols to the masses. VVS Finance is a multi-featured Defi platform and the simplest DeFi place for everyone.
What you can do with VVS Finance:
At launch, a number of features have been designed to significantly improve the usability of the DEX and enhance the experience for all users, including:
- Bling Swap: Users can exchange between 2 supported tokens by paying a 0.3% swap fee.
- Providing Liquidity: Users can also become Liquidity Providers (LPs) of VVS. As a reward, the LP will receive two-thirds of the generated swap fee corresponding to the value of the token pair for which the LP has provided liquidity.
- Crystal Farming: LPs can earn even more rewards by staking their tokens. However, high profits will not last forever. “Luck only comes to the brave.”
- Glitter Mine: Users can stake VVS to earn more VVS with automatic compounding benefits.
- Initial Gem Offering (IGO): Users have access to exclusive sales of new tokens from new projects launched on Cronos.
- Dashboards and Analytics: see the overall performance of available tokens.
VVS Partners And Team
As mentioned, VVS is an ecosystem partner of Cronos as it is the first AMM on Cronos. Additionally, it is part of the Particle B Incubation program, which is a startup accelerator program focused on DeFi projects on Crypto.com (CRO), Bitcoin (BTC), and Ethereum (ETH). Since Particle B, VVS is also supported by Crypto.org and the Crypto.com ecosystem.
They also partnered with Beefy Finance, allowing users to stake VVS to win Beefy Financial Tokens (BIFI) or participate in LP farming for the CRO/BIFI pair.
Tokenomics
VVS is a Utility token, governance and reward of the platform. Additionally, VVS is a Cronos Chain (CRC20) token and is also used to pay transaction fees in the Cronos app.
Launched in early November 2021, VVS has adopted an issuance model where the 50 trillion VVS tokens produced will be halved each year thereafter.
General Information About ENS Token
- Token Name: VVS.
- Ticker: VVS.
- Blockchain: Cronos.
- Token Standard: CRC-20.
- Contract: 0x2D03bECE6747ADC00E1a131BBA1469C15fD11e03
- Token Type: Utility, Governance.
- Total Supply: 100,000,000,000 VVS.
- Circulating Supply: Updating…
Token Allocation
- Community: 50%.
- Team: 23%.
- Ecosystem Development: 13.5%.
- Network Security & Maintenance: 13.5%.
VSS token release schedule
VVS Token Use Case
VVS token is used to:
- Project management.
- Stake to receive partner project tokens.
Exchanges
Currently, in addition to VVS Finance, VSS tokens are being listed on exchanges including: Crypto.com Exchange, Bitget,..
Information Channels of VVS Finance
- Website: https://vvs.finance/
- Telegram: https://t.me/VVSFinance
- Twitter: https://twitter.com/VVS_finance
- Medium: https://medium.com/vvs-finance
Total Keh
If Uniswap is called the symbol of the Ethereum ecosystem, then VVS Finance is the symbol of the Cronos ecosystem. Cronos is an emerging ecosystem so VVS Financial’s early launch will be an advantage for them as the DEX is the main mechanism for channeling cash flow in the ecosystem.
