What is VVS Finance?
VVS Finance is a cross-chain platform for decentralized finance (DeFi). The project aims to offer a simple DeFi platform for all users, regardless of their level of experience.
While DeFi is becoming popular, the onboarding process may be intimidating to newcomers. New technologies, foreign policies, and complex interfaces are some of the challenges that new users can face. VVS Finance developers were motivated by the need to find a solution to these problems. Therefore, they developed VVS Finance, a simple-to-use yet highly functional DeFi platform.
One of the core products of the platform is Bling Swap. This product enables users to swap supported tokens at low fees and fast speed. Users can also provide liquidity by supplying a pair of assets and receiving Liquidity Provider (LP) tokens as proof of ownership. Liquidity providers earn 0.3% of the transaction fees every time the pair is traded. The reward is given in the ratio of their LP tokens.
Crystal Farms is another product that allows users to stake LP tokens to receive VVS rewards. There is also the Glitter Mines, which offers users the opportunity to earn passive income. It enables users to stake their newly earned VVS tokens to receive even more VVS. This product has low risks.
Moreover, the project also Initial Game Offering (IGO) services. The product enables users to discover and invest in new projects.
Additionally, VVS Finance offers Miner Mole NFT, a collection of 10,000 utility-enabled profile pictures (PFPs). Moles are unique assets and are generated from over 100 different traits. The assets follow the CRC-721 token standard.
The entire VVS Finance is glued together with the platform’s native token – VVS. It is the utility, governance, and reward token with applications throughout the VVS Finance ecosystem. You can see the live VVS price on the VSS Finance price chart above.
Use Cases of VVS Tokens
VVS Finance crypto is the core of VVS Finance. It has multiple use cases. First, you can stake the VVS coin in the Crystal Farm and earn rewards in VVS or partner token rewards.
Secondly, VVS Finance token holders can use their assets to provide liquidity to the network. Liquidity providers (LPs) earn 75% of Swap fees collected. The reward is distributed to the LPs of various pools in the ratio of their contributions to the pools.
Lastly, the VVS Finance coin also supports the incentive program within the network. For example, it is used to reward those who trade tokens on VVS Finance.
If you plan to buy VVS Finance crypto assets, don't forget to research the VVS Finance price. You can view its price chart above – it features the current and the previous VVS price.
Who Founded VVS Finance?
VVS Finance was launched by a team of developers who hide behind the pseudonym The Craftsmen. The team self-describes as "humble farmers" with a "deep product design background." Besides, the VVS Finance team partnered with Cronos to develop the DEX, which became the first automated market maker (AMM) DEX on Cronos.
VVS Tokenomics
VVS token adopts an emission model and the halving mechanism used by Bitcoin. The first year's emission is 50 trillion tokens, halving every year thereafter. Emission per block is dependent on the technical design of the chain.
VVS has a maximum supply of 100 trillion tokens. The fixed supply mechanism is used to create an increase in demand through scarcity. This approach helps to increase the VVS Finance price. VVS coins are distributed as follows:
- Network security and maintenance – 13.5%
- Ecosystem development – 13.5%
- Community – 50%
- Team – 23%
