The XVS currency is simply clear
The XVS currency is the main currency of a project called Venus
This Venus project is a decentralized bank operating on a network called BNB Chain
The idea is simply that this project allows people to do two essential things
The first thing is lending, which means if you have extra cryptocurrencies, you can put them in the Venus project and earn interest like a deposit
Another thing is borrowing; if you need money, you can put your coins as collateral and take a loan in other coins without selling what you have.
The role of the XVS coin
The XVS coin itself has two very important roles.
The first role is governance.
Governance means that those who hold this coin have the right to vote on decisions related to this decentralized bank.
This means they can determine interest rates and fees, and decide whether to add new coins for lending and borrowing or not.
This coin allows control of the project to be in the hands of the community rather than a single company, which is the basis of decentralization.
The second role is minting stablecoins.
This protocol issues a stablecoin called VAI, which is pegged to the dollar.
The XVS coin has a role in the minting of this stablecoin and in overseeing it.
In summary
XVS is the governance and control coin of a decentralized digital bank called Vins, which offers you loan and deposit services quickly and cheaply on the BNB Chain network, and its value comes from the strength of the project and the demand for its services and your voice in decision-making.
Do you want me to look up the performance price of XVS or any other information about the finance project?