VVS Finance is a decentralized exchange that uses AMM (automated market-making), which is built natively on the Cronos platform.
VVS Finance intends to challenge Yearn Finance, Clover Finance and DFI Money. Its trading platform is similar to Uniswap. VVS Finance is also being referred to as “the Uniswap from Crypto.com (Cronos). Users can exchange between two supported tokens by paying an exchange fee, which is close to 0,3% currently. VVS Finance is governed by its native token, VVS.
In this article, we will discuss:
What is VVS Finance?
Very Very Simple Finance (VVS) Finance aims to make Decentralized Finance (DeFi) easy and fun for all users. This cross-chain DeFi platform, powered by blockchain Cronos, uses an Automated Market Maker (AMM). VVS Finance provides a platform for users to easily exchange tokens and earn yields while paying cheap transaction fees and avoiding slippage.
Additionally, VVS Finance offers multiple pools of liquidity, staking and opportunity to discover new projects with its Initial Gem Offering (IGO) program. There are also trading battle events that users can enter for free and win prizes as per the terms of the specific event. Users are rewarded in VVS, the platform's native token. VVS is also required to access certain resources and as a governance token.
How does VVS Finance work?
VVS Finance is the first decentralized Automated Market Maker (AMM) Exchange built natively on top of the Cronos blockchain and will be powering a suite of decentralized applications within the Cronos ecosystem.
The past year has seen massive growth in the Decentralized Finance (DeFi) ecosystem, which is pioneering new models for individual financial autonomy and opportunity. However, for newcomers, DeFi can be intimidating. New terminologies, foreign procedures, unknown interfaces.
Coming from deep experience in product design, a team of humble farmers came together, determined to build DeFi products for everyone, with the goal of bringing amazing protocols to the masses. VVS Finance is a multi-featured Defi platform and the simplest DeFi place for everyone.
What you can do in VVS Finance:
At launch, a number of features were designed that will significantly improve the usability of DEX and enhance the experience for all users, including:
- Bling Swap: Users can exchange between 2 supported tokens by paying a 0,3% swap fee.
- Liquidity Provision: Users can also become a Liquidity Provider (LP) of VVS. As a reward, LPs will receive two-thirds of the swap fees generated in proportion to the value of the token pair the LPs have provided liquidity for.
- Crystal Farming: LPs can earn even more rewards by staking their tokens. However, the high returns from agriculture will not be available forever. “Fortune favors the brave.”
- Glitter Mining: Users can bet VVS to earn more VVS with auto compounding benefits.
- Initial Gem Offering (IGO): Users get access to exclusive sales of new tokens from new projects launched on Cronos.
- Analysis Tool: The overall performance of tokens is available in an easy-to-view feature of the dashboard.
Chronos Ecosystem
The team believes that the Cronos ecosystem will play a significant role in DeFi.
- Low tx rate, high throughput. The high gas rates on Ethereum have priced most retail users and made it a playing field for whales. DeFi is for everyone and should have a very low barrier to entry. With a gas rate of less than $0,1 for simple transfer, hundreds of tps, Cronos provides a sustainable layer for DeFi applications that adapt to mass audiences.
- Quick purpose. Built on the Tendermint core, transactions in Cronos can achieve fast completion with 6-second block confirmation. This dramatically improves the user experience, offering an experience similar to centralized financial applications.
- EVM compatibility. Cronos provides a fully compatible Web3 layer for interacting with existing EVM clients and tools, which makes it much easier to build in a familiar environment.
- Interoperability enabled for IBC. The Cronos mainnet will enable the Cosmos IBC at launch, which means that in the future, they will be able to interact with other Cosmos chains in the ecosystem and facilitate liquidity between EVM chains and the Cosmos ecosystem.
VVS Partners and Team
As mentioned, VVS is an ecosystem partner of Chronos as it is the first AMM on Chronos. Furthermore, it is part of the Particle B Incubation program, which is a startup accelerator focused on DeFi projects on the 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 win the Beefy Financial Token (BIFI) or participate in LP farming for the CRO/BIFI pair.
VVS token
VVS is the platform's utility, governance and reward token. In addition, VVS is a Cronos Chain token (CRC20) and is also used to pay transaction fees in Cronos apps.
Launched in early November 2021, VVS has adopted an issuance model where the 50 trillion VVS tokens produced will be halved each year thereafter.
The VVS will be distributed as follows:
- 30% Liquidity Farms and 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
Is it worth investing in VVS Finance?
VVS Finance provides users with many options to earn rewards like glitter mining and crystal mining where you can stake your tokens to get rewards from VVS.
VVS was listed on Crypto.com on November 23, 2021. After listing, the coin has seen an increase in its price and trading volume. Crypto.com is a trading platform that rivals Coinbase and Binance with over 10 million users. Crypto.com is trying to improve its visibility through advertising campaigns with Hollywood actor Matt Damon and many other sports and celebrity partnerships.
Having said that, before making any investments, do your research, investing in cryptocurrencies is highly risky and speculative, and this article is not a writer's recommendation to invest in cryptocurrencies.
What is the Price Forecast for the VVS Finance (VVS) cryptocurrency?
The price of VVS Finance is predicted to reach a high level of $0.00009450 throughout 2022.
As early as 2023 according to our crypto price prediction index, VVS Finance (VVS) may reach a maximum level of $0.000182, with the average trading price of $0.000135.
In 2025 according to our crypto price prediction index, VVS should cross an average price level of $0.000219. The minimum expected value of the VVS Finance price at the end of the current year should be $0.000202. Furthermore, VVS can reach a maximum price level of $0.000223.
Where to Buy the VVS Token?
VVS cryptocurrency can be traded on the following exchanges:
- Crypto.com Exchange
- VVSFinance
- bitget
Conclusion
If Uniswap is called the symbol of the Ethereum ecosystem, VVS Finance is the symbol of the Cronos ecosystem. Cronos is an emerging ecosystem hence the early launch of VVS Financ and will be a boon for them as DEX is the main mechanism for leading cash flow in the ecosystem.
