Binance Launches a Mix of MakerDAO and Compound on its Chain

By author_nan | News | 30 Sep 2020

On September 28, Binance announced a new money market system called Venus that features a design that is a combination of both MakerDAO (MKR) and Compound (COMP).

Binance first announced Venus in August 2019, saying that it aims to break “financial hegemony”
Running on the Binance Smart Chain, the stablecoin VAI will be collateralized with different tokens based on the Binance standard, BEP-20
The exchange said that Venus would remove the pain points of Ethereum, as it is built on the Binance Smart Chain
Users can initially earn interest on 3 assets: Binance Coin (BNB), Swipe (SXP) and the VAI stablecoin
Binance CEO Changpeng Zhao has described the new stablecoin as a mix of MakerDAO and Compound; it has also been called a “regional Libra”