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About Venus
Analysis of 10 Dec 2025Venus Protocol is a decentralized lending and borrowing platform built on BNB Chain and expanded to multiple networks including Ethereum, Arbitrum, Optimism, Base, zkSync, and opBNB. As of Q3 2025, Venus manages $2.8 billion in TVL, making it the 6th largest lending protocol globally and BNB Chain's second-largest DeFi platform.
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The protocol enables users to supply crypto assets to earn yield while borrowing against those assets, and also allows minting of VAI, an algorithmic stablecoin. Venus employs a governance token (XVS) with a capped 30 million supply and has recently implemented deflationary tokenomics through its Afterburn initiative, burning 25% of BNB Chain revenue quarterly.
