| General information | |
|---|---|
| Global rank: | 243 |
| Name: |
Venus BTC |
| Symbol: | vBTC |
| Current coin price (JPY): | 214 831.32 ¥ |
| Last hour: | arrow_downward-1.09 % |
| Last 24 hours: | arrow_downward-4.43 % |
| Last 7 days: | -6.42 %trending_down |
| Capitalisation (JPY): | 44 220 018 741.30 ¥ |
| Volume 24h (JPY): | 0.000000 ¥ |
| Available supply: | 205 836.00 vBTC |
| Total coin supply: | -1 vBTC |
| Start date: | 2020-12-04 |
Venus BTC/Japanese Yen (vBTC/JPY) price chart
Venus BTC/Japanese Yen (vBTC/JPY) capitalisation and volume charts
Venus BTC (VBTC) is a synthetic asset that represents Bitcoin (BTC) on the Venus Protocol, a decentralized finance (DeFi) platform on the Binance Smart Chain (BSC). VBTC is designed to provide users with exposure to the value of Bitcoin within the Venus ecosystem. It essentially mirrors the price movements of Bitcoin, enabling users to benefit from Bitcoin's market performance without directly holding the cryptocurrency. The creation of VBTC allows for Bitcoin's integration into the Venus Protocol's lending and borrowing system, expanding its utility in the DeFi sector.
VBTC was developed as part of the Venus Protocol, a project on the Binance Smart Chain. The Venus Protocol, including its synthetic assets like VBTC, was created by the Venus team. This team is composed of developers and professionals experienced in blockchain technology and DeFi, focusing on creating an accessible and efficient lending and borrowing platform on the BSC.
$VBTC serves several purposes within the Venus Protocol:
Exposure to Bitcoin's Value: VBTC allows users to gain exposure to Bitcoin's price movements within the Venus ecosystem. This is particularly useful for those who wish to benefit from Bitcoin's market performance without holding the actual cryptocurrency.
Collateral for Loans: Users can deposit VBTC as collateral to take out loans in other cryptocurrencies on the Venus platform. This provides a way for Bitcoin holders to leverage their holdings without selling them.
Earning Interest: By supplying VBTC to the Venus Protocol, users can earn interest, thus generating passive income from their Bitcoin holdings in a decentralized manner.
Participation in DeFi Activities: VBTC enables participation in various DeFi activities on the Venus platform, offering users additional avenues for engaging with the broader DeFi ecosystem.
In summary, VBTC extends the utility of Bitcoin by bridging it with the Venus Protocol, enabling users to engage in lending, borrowing, and earning interest, while also benefiting from Bitcoin's market dynamics in the DeFi space.