What Is VVS Finance? (2023)

“Very, Very Simple DeFi trading for all!”

That’s what VVS Finance promises to stand for to help make DeFi accessible to billions around the world, including the average Joe. Hence, the name VVS (very very simple) Finance.

The platform prides itself as a one-stop venue for users to swap tokens and earn high yields with ease. It is a decentralized exchange (DEX) that uses automated market-making (AMM) built natively on the Cronos chain. However, there’s more to VVS Finance, as the platform strives to become your default gateway to the decentralized finance movement.

In this guide:

  • What is VVS Finance?
    • Built on the Cronos Chain
    • The team behind VVS Finance
  • How does VVS Finance work?
  • What makes VVS Finance unique?
    • Bling Swap
    • Liquidity provision
    • Crystal Farming
    • Glitter Mines
    • Initial Gem Offerings (IGOs)
  • $VVS tokenomics
    • How to buy VVS Finance token
  • Is VVS Finance a good investment?
    • Can high circulating supply be a concern?
    • Steady growth
  • Frequently asked questions

What is VVS Finance?

What Is VVS Finance? (1)

As an AMM DEX, VVS Finance facilitates trading without requiring any middlemen or order books. It deploys a smart contract that leverages liquidity/assets provided by Liquidity Providers. As of July 2022, its daily trading volume hovers around $7 million.

The platform focuses on enabling users to easily swap tokens and earn yields “while having fun.” And yes, VVS Finance does indeed emphasize on the “fun” part to make DeFi easily accessible to even those users with little or no prior exposure to blockchain and cryptocurrencies. Through gamification and an easy-to-use interface, it aims to offer a novel user experience that appeals to users of all expertise and experience levels.

In addition to liquidity pools and staking opportunities, the platform also enables users to discover new projects with its initial gem offering (IGO) program (details below).

Built on the Cronos Chain

What Is VVS Finance? (2)

You may identify Crypto.com as an exchange and a wallet app that has been spending generously on marketing with high-profile advertising campaigns starring the likes of Matt Damon and LeBron James, among others.

However, unbeknownst to many, it is also the company behind Cronos, an EVM-compatible blockchain known for its low fees and high speed. Shortly after its launch in Nov. 2021, Cronos became a smashing hit in the DeFi space, with $4 billion in total value locked (TVL) by April 2022. Nearly 60% of the TVL at the time came via VVS Finance.

Even now, when the ongoing bear market has seen the TVL in Cronos dropping massively to just around $1.25 billion, VVS Finance continues to contribute more than 50% to that figure.

(Video) VVS Finance Explained | What is VVS Finance

The team behind VVS Finance

Not much is known about the VVS Finance team except that they

  • Like to call themselves the “Craftsman.”
  • Come from a “deep product design background.”
  • Want to bring the best DeFi protocols to the masses.

The anonymity aspect aside, VVS Finance has managed to forge several high-value alliances with important strategic partners, including the Crypto.org and Crypto.com ecosystems. It was also a part of the Particle B Incubation program which focuses on up-and-coming DeFi projects.

How does VVS Finance work?

What Is VVS Finance? (3)

VVS Finance focuses mainly on proven and audited protocols. It also offers a pretty rewarding inventive program powered by the VVS Finance token ($VVS), the project’s native asset.

The DEX features liquidity pools, with each pool consisting of a pair of tokens. Liquidity Providers deposit tokens into the pool, while traders swap between the tokens.

The protocol is based on a constant product formula. To elaborate, the product of the quantities of both tokens in a pool remains the same after a swap is executed. And the price slippage from the swap may vary depending on the overall quantity and ratio of the tokens in the pool.

The following infographic from the project’s litepaper paints a pretty clear picture of the underlying mechanism powering the DEX.

What Is VVS Finance? (4)

The underlying mechanisms are configured such that different stakeholders can benefit in multiple ways. For example:

  • Liquidity Providers: Two-thirds of the swap fees collected from a pool are distributed among the liquidity providers. On top of that, those staking eligible LP tokens in the “Crystal Farm” category will receive additional rewards in $VVS.
  • $VVS stakers: You could also stake $VVS in “Glitter Mine” to earn $VVS or partner tokens as rewards.
  • Trading incentives: Traders also stand a chance to earn sizable rewards by simply swapping tokens.
  • Referral rewards: VVS Finance has its own referral program that incentivizes users to invite new users to trade on the platform.

What makes VVS Finance unique?

In short, features like Bling Swap and Glitter Mining help the platform offer a unique flavor to users. Some of its key features include:

Bling Swap

This feature allows users to instantly swap tokens for a tiny fee (as opposed to what most of us are used to with centralized exchanges with traditional order books). Users pay a trading fee of 0.3%, which then goes to liquidity providers and the platform.

(Video) VVS Finance Explained - What is VVS Finance Coin

Liquidity provision

Any user on the VVS platform can opt to become a Liquidity Provider (LP). In return, they earn 2/3rd of the swap fees in that pool (in proportion to the volume of tokens they provided).

Crystal Farming

With Crystal Farming, LP token holders can earn even more in rewards by simply staking their tokens. The rewards are usually a lot higher than what we normally see in traditional centralized yield accounts. Currently, this feature supports the following pools:

  • CRO – BTC
  • CRO – ETH

It is worth noting here that the high rewards from crystal mining will remain available only for a limited period. The VVS team has explained that it will be distributing a fixed portion of newly minted $VVS among early adopters and pioneers during the early stages of the project. With time, however, as the VVS ecosystem matures, the rewards will gradually decrease and be available to a wider user base.

Glitter Mines

What Is VVS Finance? (5)

This is a rather simple feature and allows users to simply stake and earn rewards. There are three ways to go about Glitter Mining:

  • Auto VVS, which automatically compounds the $VVS you stake, so you earn even more $VVS.
  • Manual VVS, where you will require manually harvesting your rewards and compounding them back into the mine.
  • Partnered Mines, where you need to stake the xVVS governance token and earn tokens of VVS Finance’s partners within the mine opening period. Note that you will have to manually harvest your rewards.

Initial Gem Offerings (IGOs)

VVS Finance users get early access to exclusive sales of new tokens from promising projects launching on the Cronos ecosystem. Meanwhile, project owners also get a chance to partner with the VVS platform and launch their project in the leading DEX on Cronos.

$VVS tokenomics

What Is VVS Finance? (6)

Cronos Chain (CRC20) token serves as the platform’s utility, governance, and reward token. Additionally, it can also be used to pay transaction fees on applications built on the Cronos Chain.

The token follows the emission model, per which the VVS Finance team will mint 50 trillion tokens in the first year and halve each year thereafter. This way, a total of (50 ÷ 2 =) 25 trillion tokens will enter circulation in the second year, (25 ÷ 2 =) 12.5 trillion tokens in the third year, and so on.

The distribution of the token is as follows:

  • Farms and Liquidity Mining: 30%
  • Team: 23%
  • Community reserve for future initiatives: 15%
  • Maintenance and network security: 13.5%
  • Ecosystem development: 13.5%
  • Traders and Referrers: 2.5%
  • Market Makers: 2.5%
What Is VVS Finance? (7)

How to buy VVS Finance token

According to CoinMarketCap, you can buy the VVS Finance token from one of the following three exchanges — Crypto.com, VVS Finance, and Bitget (as of July 2022).

However, as the VVS platform matures with time, you can expect more exchanges to follow suit and list $VVS.

(Video) VVS FINANCE COIN 30X RISE NEWS! 🔥 VVS FINANCE BREAKOUT IS COMING! *IMPORTANT UPDATE*

So, depending on when you’re reading this, the best way to buy VVS Finance token would be to follow these steps:

  • Visit CoinMaretCap.com and search for VVS Finance. You may get two results, one for the exchange and one for the token. Select the token and then tap on the category labeled “Market” (just around the price chart). Here, you will find the updated list of exchanges that lets you buy $VVS. Alongside, you will also see the currencies you can buy with.
  • Once the detailed list is at your disposal, choose a reliable platform and a currency pair of your preference. For example, if you want to buy $VVS with USD, choose the pair VVS/USD. At the risk of stating the obvious, it is always safer to buy from an established exchange with a relatively high trading volume and security.
  • Go to the platform of your choosing, log in (or sign up), and follow the buying steps applicable to that particular platform.

Is VVS Finance a good investment?

Can high circulating supply be a concern?

For starters, VVS Finance’s tokenomics does raise some questions. It already has a circulating supply of more than 21 trillion VVS tokens; over the next ten years, the total supply of 100 trillion will be reached.

In comparison, other leading DEX tokens have a far limited circulating supply. For example, SushiSwap has a circulating supply of just over 127 million. Similarly, the corresponding figure for the PancakeSwap token is just over 268 million.

So, by and large, $VVS seems to be the only major DEX token that is (relatively) inflationary to such a degree. Although, it does have a maximum total supply of 100 trillion (which the likes of CAKE don’t have despite having certain deflationary mechanisms).

That said, the total supply of a coin/token is not necessarily a reliable indicator of the quality of the underlying project. For perspective, even ETH has an infinite total supply.

Steady growth

Overall, the market cap of $VVS has so far shown a healthy growth rate. In the first couple of months, it rose from $20 million to $170 million, and then all the way to $350+ million in late March/early April.

Even today, at the (possibly) peak of the ongoing bear market, the VVS token price and market cap have been relatively stable. The daily trading volume is also decent.

All factors considered, it is probably safe to say that if VVS Finance can retain its dominant position in the Cronos ecosystem, and if Cronos continues to grow in adoption and activity, $VVS can be marked as a potentially good investment in the medium to long run.

On a related note, if you are on the lookout for safe crypto investment options during the ongoing bear market, consider joining the BeInCrypto Premium Telegram Group. Three traders every day post useful insights and technical analysis — but only you will decide whether to follow them or not. It’s free! To join, click the link above and follow the simple instructions.

Frequently asked questions

VVS Finance is decentralized exchange (DEX) that uses automated market-making (AMM) built natively on the Cronos chain. The platform focuses on enabling users to easily swap tokens and earn yields “while having fun.”

If VVS Finance can retain its dominant position in the Cronos ecosystem, and if Cronos continues to grow in adoption and activity, $VVS can be marked as a potentially good investment in the medium to long run.

As of July 2022, the circulating supply of VVS Finance token exceeds 21 trillion. That’s roughly 21% of the max supply, which is capped at 100 trillion.

(Video) Is Crypto.com VVS Finance Staking A Scam? | Rugs and Crypto Scams 2022

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(Video) VVS FINANCE CRYPTO IS THE NEXT 100X COIN? | Yield Farming Explained

FAQs

What Is VVS Finance? ›

VVS Finance is a blockchain-based decentralized finance (DeFi) platform. The platform aims to provide users a gateway into the DeFi space and allow them take control of their finances.

What is the purpose of VVS finance? ›

What is VVS? VVS Finance is designed with the goal of bringing amazing protocols to the masses. It is the simplest DeFi platform for everyone to swap tokens, earn high yields, and, most importantly, have fun.

Is VVS finance good investment? ›

Forecasters do not seem to think the coin is a good investment right now. As a highly inflationary coin in a saturated market, the protocol has not perfomed very well since its launch. Saying that, it has solid backing from some well established crypto companies, such as Crypto.com and the Cronos blockchain.

How many VVS finance coins are there? ›

VVS Finance Price Summaries

VVS has a circulating supply of 24,389.79 B VVS and a max supply of 100,000 B VVS.

Is VVS finance backed by crypto? ›

We are pleased to announce that Crypto.com DeFi Wallet has been integrated with VVS Finance Swap, making it the first wallet to support VVS Finance natively. Users can seamlessly swap Cronos tokens directly via the built-in Swap function in the DeFi Wallet App (requires V1. 23.0 or above).

Can Dogelon Mars reach 1 cent? ›

Today, Dogelon Mars has a circulating supply of 557 trillion tokens. As mentioned before, for Dogelon Mars to reach $1 cent, the token must reach an approximate market capitalization of $5.57 trillion. Nevertheless, there are other ways for Dogelon Mars to reach $1 cent.

What is the future of VVS finance? ›

As per our technical analysis, VVS Finance is anticipated to touch a maximum price level of $0.0000563 by the end of 2022. The predicted average price of VVS Finance can be around $0.0000492 depending on the market. While the minimum price of VVS can be down to $0.0000476 for 2022 if the market goes down.

What happened to VVS finance? ›

Since the year started, VVS Finance has lost 73 per cent of its value. The long-term price history also shows the cryptocurrency hit its all-time high price of $0.0001549 on November 24, 2021. Since then, VVS Finance has lost 94 per cent of its value.

Is VVS a good project? ›

VVS Finance Coin is one of the most successful decentralized finance projects. VVS Finance is the entrance to the decentralized finance revolution, according to data from the project's website. With VVS Finance, users may take control of their money and earn VVS rewards.

Is VVS a Binance? ›

VVS Finance Price(VVS) Note: This coin is not listed on Binance for trade and service. To acquire this coin, you can refer to our How to Buy VVS Finance guide.

Is VVS part of crypto com? ›

We're pleased to announce that Crypto.com DeFi Wallet is now integrated with VVS Crystal Farms on DeFi Earn! Easily stake and earn from four liquidity pools using one single token, with rewards rates as high as 130% p.a. What's more, users won't have to leave the DeFi Wallet app or perform multiple token swaps.

What is the market cap for VVS finance? ›

151.948M

Can tonic reach $1? ›

The value of the TONIC token has largely been untested – so far, the value of one TONIC token remains well under $0.01. Use cases are limited as it stands, but staking initiatives could increase demand for the token in the future.

What blockchain is VVS Finance on? ›

VVS Finance also supports a decentralized exchange (DEX), aiming to provide a simple platform to swap digital assets and earn yield rewards. Built on the Cronos blockchain network, the DEX allows users to provide liquidity in the various liquidity pools by staking their digital assets.

When did VVS come out? ›

VVS Laxman
Personal information
Test debut (cap 209)20 November 1996 v South Africa
Last Test24 January 2012 v Australia
ODI debut (cap 112)9 April 1998 v Zimbabwe
Last ODI3 December 2006 v South Africa
22 more rows

Does ELON own Dogelon Mars? ›

About Dogelon Mars (ELON)

ELON (aka Dogelon Mars) is a doge-themed token project that aims to replicate the success of Dogecoin (DOGE) while referencing Elon Musk's vision to colonize Mars. The founders of Dogelon Mars locked 50% of all the ELON liquidity in a Uniswap liquidity pool.

Does Dogelon Mars have a future? ›

Crypto analysts have checked the price fluctuations of Dogelon Mars in 2022 and in previous years, so the average ELON rate they predict might be around $0.00000037 in October 2022.

Can a Shiba Inu hit 50 cents? ›

Shiba Inu 50 Cents? Conclusion. Considering the burn rate requirements, the likely market cap for such a price, and the intense competition amongst cryptocurrencies, it is unlikely Shiba Inu Coin will ever reach 50 Cents.

Is shiba inu a good investment? ›

According to CoinMarketCap, shiba inu crypto is worth $0.00001256 as of August 12. That represents a more than 84% decrease from its high of 0.00008 on October 26, 2021. Currently, the coin has a market cap of $6,894,551,695 and is ranked at 15th place in CoinMarketCap's list of the top cryptocurrencies.

Is Solana a good investment? ›

Should You Buy Solana? All of this to say the Solana blockchain is highly efficient and very stable, and it offers low transaction fees for investors. These factors combine to give the coin potential as a good long-term investment as far as cryptocurrency goes.

Is Tonic crypto a good investment? ›

Trading Beasts predicts that TONIC is a good investment. They expect the coin to increase by 101.46%.

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