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Looking for a simple DeFi platform that lets you earn high yields, swap tokens, and participate in fun earning events? VVS Finance might be something you want to look into. Learn more about this Very, Very Simple DeFi platform — see what I did there? 

Covered:

  • What Is VVS Finance?
  • Features of VVS Finance
  • Partners & Team
  • VVS Crypto Tokenomics

What Is VVS Finance?

Decentralized Finance (DeFi) can be quite intimidating for newcomers. Very Very Simple (VVS) Finance aims to make Decentralized Finance (DeFi) easy and fun for all users. This cross-chain DeFi platform, powered by Cronos blockchain, uses an Automated Market Maker (AMM). VVS Finance provides a platform for users to easily swap tokens and earn yields while paying cheap transaction fees and avoiding slippage.

In addition, VVS Finance offers several liquidity pools, staking, and opportunity to discover new projects with their initial gem offering (IGO) program. There are also trading battle events that users can enter for free and earn prizes according to the terms of the specific event. Users are rewarded in VVS, the platform’s native token. VVS is also needed to access certain features and as a governance token.

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Features of VVS Finance

VVS Finance is a Defi platform with the features listed below:

  • Bling Swap: Users can swap between 2 supported tokens by paying a swap fee of 0.3%.
  • Liquidity Provision: Users can also become a Liquidity Provider (LP) to VVS. As a reward, LPs will receive two-third of the swap fees generated in proportion to the amount of the pair of tokens LPs have provided liquidity for.
  • Crystal Farming: LPs can earn even more rewards by staking their tokens. However, the high returns from farming will not be available forever. “Fortune favors the brave.”
  • Glitter Mining: Users can stake VVS to earn more VVS with auto-compounding benefits.
  • Initial Gem Offering (IGO): Users get access to the exclusive sales of new tokens from new projects launching on Cronos.
  • Analytics Tool: Overall performance of tokens is available in an easy dashboard viewing feature.

VVS Finance IGO: Initial Gems Offering

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VVS Crypto Partners & Team

As mentioned, VVS is an ecosystem partner of Chronos, as they are the first AMM on Chronos. In addition, a part of the Particle B Incubation program, which is a startup accelerator focused on DeFi projects on Crypto.com(CRO), Bitcoin(BTC), and Ethereum(ETH) chain. Because of Particle B, VVS is also supported by Crypto.org and the Crypto.com ecosystem.

They also partner with Beefy Finance, allowing users to stake VVS to earn Beefy finance token (BIFI) or participate in LP farming for CRO/BIFI pair.

The team is called the Craftsman. Currently, the Craftsman is anonymous.

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Tokenomics

As previously stated, VVS is the platform’s utility, governance, and reward token. In addition, VVS is a Cronos Chain (CRC20) token, and it is also used to pay transaction fees on Cronos applications.

Launched in early November 2021, VVS adopted an emission model where the 50 trillion VVS token produced will be halved every year after that.

VVS will be distributed as follows:

  • 30% Farms and Liquidity Mining
  • 23% Team
  • 15% Community wallet for future initiatives
  • 13.5% Network Security and Maintenance
  • 13.5% Ecosystem Development
  • 2.5% Traders and Referrers
  • 2.5% Market Makers

 

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Concerns:

The concept of having an easy-to-use DeFi platform is excellent. However, many DeFi platforms are out there aiming to deliver the same idea as VVS Finance. Even though VVS Finance is a part of a robust ecosystem, the competition is still massive. Another issue is the high inflation of VVS due to their emission model. This, however, could be amazing for long-term play. Lastly, the team is anonymous. Although there are many great blockchain projects with anonymous teams, it is always uneasy not to know who is responsible for the project.

Where To Buy VVS Crypto?

You can purchase VVS Crypto through VVS Finance and Crypto.com, similar to how you would buy another cryptocurrency. You can either place a market buy or a limit buy. With a limit buy, you determine the price you are willing to pay, and your order gets filled once the token price reaches your limit price. If you want to get your hands on the token quickly, you can place a market order, where you agree to pay the current price and have your order filled almost immediately. If you are interested in purchasing VVS you can do so by visiting Crypto.com.

The post What Is VVS Finance? appeared first on CryptosRus.

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