- Summary:
- DeFi platform, Very Finance, has introduced an automated staking and compounding feature. How different is it from other DeFi products?
Very Finance (VVS) has launched an auto-staking and auto-compounding DeFi product. Very Insurance Fund (VIF) will ensure that the platform provides a decentralized financial product that rewards users with a sustainable model through VIF Auto-Staking Protocol (VAP) protocol. This makes staking easier and more efficient and awards VERY token holders the highest stable returns in crypto. DeFi is experiencing a surge in popularity. Therefore, this move aims to address the increasing demand from investors for low-risk, high-yield investments.
For the first year, VAP offers the VERY token automatic staking and compounding capabilities. Also, it carries the highest fixed APY in the market at 48,9638%, which is the highest in the market. Furthermore, VERY token holders will receive more value and benefits from VIF’s DeFi innovation. Because the VIF protocol employs an automatic token burn scheme, the circulating supply cannot grow out of control.
The mechanism consumes 2.5% of every transaction in the VERY market through the Fire Pit. In order to keep the VERY protocol steady, the fire pit grows larger as more is traded. Consequently, this reduces the amount of circulating supply.
Interest rebase payouts are in VERY, the native cryptocurrency. Simply by keeping their VERY tokens in their wallet, any token holder earns interest automatically every five minutes! In order to provide long-term stability and price stability, the VIF acts as an insurance fund.
About Very Finance
Cronos-powered Very Finance is a DeFi platform designed to make DeFi simple, accessible, and profitable for everyone. The VAP, the Very Finance VAP protocol, is a DeFi asset that provides its customers with long-term fixed compound income.
The platform’s native token is the VVS token. It serves as a governance, incentive, and utility token across the whole VVS ecosystem. Low costs and high speeds incentivize users to exchange supported tokens, offer liquidity, and stake their tokens. The VVS token has a market capitalization of about $339 million as of this writing.