Venus Reward Token ( VRT) is a mechanism created to become an additional mining distribution to suppliers and borrowers of Venus Protocol. The goal is to gradually lower XVS inflation rate and also include burning XVS throughout this process. Venus reward token is to make the Venus total supply lower over time to make Governance more secure. In substitution to this, it will create a lucrative APY yield in the protocol. VRT will have a total supply of 30 billion and be distributed to users over the course of 4 years while XVS distribution will double to around 8 years to compliment the reductions. All of this is subject to Governance changes and on-chain proposals.
Venus is airdropping VRT to XVS and vXVS holders. A snapshot will be taken on May 15th, 2021, at block number 7479562. Users are required to hold XVS or vXVS in a private wallet or in a supporting exchange like Binance during the snapshot. VRT distribution will be done at a ratio of 1,000 VRT per 1 XVS. XVS or vXVS holders will also receive limited edition NFTs at a ratio of 1 VENUS NFT per 10 XVS owned or the corresponding amount vXVS in their private wallet. Follow our step guide to receive your Venus Reward Token.
Hold XVS or vXVS in a private wallet, supporting exchange or Binance Exchange and receive 10% off trading fees
The mininum XVS holding required to be eligible is 0.01 XVS or the corresponding amount of vXVS in exchange like Binance during the snapshot
The ratio of the airdrop will be 1,000 VRT to 1 XVS. This will also apply to the net amount of XVS you have supplied to the Venus Protocol and hold vXV. The corresponding ratio of 1 XVS = 50 vXVS
All non exchange wallet will receive a limited edition of 1 VENUS NFT per 10 XVS owned (includes net XVS held as vXVS)
The rewards distribution will begin on May 17, 2021, and will end on May 24, 2021