What Is VVS Finance (VVS)?

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VVS Finance (VVS) is an automated market maker (AMM) DEX, which claims to be the first AMM on the Cronos blockchain. Launched at the end of 2021, VVS stands for “very-very-simple,” hence the mission of bringing cryptocurrency and blockchain technology to the mainstream, and make DeFi easy to use.

Its ecosystem of products include Bling Swap, Crystal Farms, Glitter Mine, IGO and it offers low fees, and high transaction speeds. With VVS, users gain access to a simplified decentralized protocol where they can be liquidity providers and VVS miners.

VVS Finance operates on top of Cronos for fast and secure transactions with relatively low fees. Cronos is EVM-compatibility, which creates an EVM-like code execution environment for developers and contributes to the growth of the ecosystem. Cronos also offers IBC integration to the Cosmos ecosystem.

Who Are the Founders of VVS Finance?

According to the litepaper, a blockchain-based decentralized finance platform, VVS Finance, was launched in November 2021 by an anonymous team under the pseudonym “the Craftsman” with the support of Crypto.com. It was later revealed that Peter C. Vaky is among the co-founders of the project. Vaky is also a Managing Partner of VVS Capital. He holds a bachelor’s degree in History and English from DePaul University and an MBA from DePaul University in International Business. Vaky has extensive experience in investment banking, and worked at SunTrust Capital Markets, Bank of America Capital Market, Continental Illinois, Bank of Montreal and Wells Fargo.

What Makes VVS Finance (VVS) Unique?

VVS Finance applies an automated market maker model, meaning that there are no order books or middlemen, but there are liquidity pools, which facilitates transactions between assets on the DEX.

Some of the key features of VVS Finance include:

Liquidity provision. Any user can become a liquidity provider by adding tokens to a liquidity pool. In order to start trading through liquidity pools, users are required to pay swap fees to liquidity providers or LPs (fees are stored in reserves of liquidity pools). LPs receive two-thirds of swap fees (0.2% of the trading volume), while one-third is held in the Treasury of VVS Finance.

Bling Swap. The system allows users to swiftly and seamlessly exchange tokens and other AMMs between multiple liquidity pools. The trading fee is 0.3% and is shared between LPs and the platform. Users have the opportunity to earn by providing liquidity.

Crystal Farming (Crystal Farm). In Crystal Farms, LPs can earn rewards in the form of VVS tokens for staking LP tokens. However, the rewards from crystal mining (high profit) are only available for a limited period of time.

Glitter Mining (Glitter Mine). The feature allows to stake VVS and earn more tokens of partner projects through auto compounding (users place predictions on the coin and earn interest).

Initial Gem Offerings (IGOs). The IDO platform on the Cronos blockchain provides users with early access to exclusive token sales of upcoming projects in the ecosystem, while project owners receive cooperation with VVS Finance, a project launch on one of the leading platforms as part of the IGO, as well as an impressive and rapidly growing user base.

How Many VVS Finance (VVS) Coins Are There in Circulation?

VVS is the governance token of the VVS Finance protocol, it also serves as the platform’s utility and reward token. VVS is a Cronos Chain token that was deployed as the CRC-20 technical standard. The main function of VVS is to incentivize the liquidity provision to the VVS Finance platform.

The distribution of the token is as follows: 50% to the community (30% to farm and mine programs, 2.5% to traders and referrers, 2.5% to market makers, 15% to the community wallet for future initiatives); 23% to the team; 13.5% for network security and maintenance; 13.5% for ecosystem development.

The tokenomics of VVS works on the emission model: the team will mint 50 trillion VVS in the first year, and then halve the amount every subsequent year. According to the emissions schedule, a maximum supply of 100 trillion VVS will be gradually reached over 10 years starting from the launch year of 2021.

How Is the VVS Finance Network Secured?

VVS Finance (VVS) deployed on the Cronos Chain – an Ethereum-compatible, decentralized, open-source blockchain developed by the Crypto.com exchange. The VVS token is built in accordance with the ERC-20 compatibility standard. The protocol has been fully audited by Slowmist, a blockchain security firm that offers a range of services, including smart contract auditing.

Where Can You Buy VVS Finance (VVS)?

The easiest way to obtain VVS is to buy it directly through VVS Finance. VVS tokens are also available at numerous crypto exchanges, including: Crypto.com Exchange, Gate.io, Bitget, Uniswap and more.

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