Venus Protocol is back — Stake CAKE, Earn VAI!
CAKE holders, today we are lucky enough to welcome the Venus Protocol team back with a new Syrup Pool of the world’s first decentralized stablecoin, VAI!
The Syrup Pool:
Stake CAKE tokens, to earn VAI tokens!
Total Tokens: 89,856 VAI
Distribution duration: 30 days
Reward Start block: 2718700 (Dec 1st, 10PM SGT)
Reward End bock: 3582700 (Dec 31st, 10PM SGT)
VAI reward per block: 0.104 VAI
The Farm:
In order to host the VAI Syrup Pool, we will need to provide a VAI-BUSD farm that will have 2x CAKE rewards for the first 48 hours and then 1x CAKE rewards after that. Notably as a double-stable coin farm, this will hopefully be a nice addition to further increase TVL.
What is VAI?
VAI is the world’s first decentralized stablecoin, enabled by Venus, built on Binance Smart Chain, and is backed by a basket of stablecoins and crypto assets without centralized control.
VAI minting currently has 0% APR to support liquidity. This means users can supply collateral that they earn interest on & mint $VAI, interest free, from the same interest-bearing collateral they supplied.
The current collateral options are: SXP, XVS, BNB, USDT, USDC, & BUSD.
Learn how to borrow or mint VAI on Venus
To learn more about VAl, the chefs advise you to visit Venus’s official communication channels.
Twitter: https://twitter.com/VenusProtocol
Telegram (English): https://t.me/VenusPotocol
How do you stake CAKE to earn VAI rewards?
If you own CAKE tokens, congratulations! You’re the master of your … pancakes.
Time to step up your taste buds by learning how to stake CAKE with Syrup Pool.
- Visit this webpage: https://pancakeswap.finance/syrup
- Click “Approve CAKE” on the VAI Syrup Pool
- Click on the stake button.
- Confirm the transaction.
BEP20 VAI will also be circulating and transferable on BSC when we start the Syrup pool, so you will be able to harvest your VAI tokens and trade on PancakeSwap at any time!
BEWARE OF FOOD POISONING! ⚠️⚠️⚠️💀
The official VAI token contract address on Binance Smart Chain is:
https://www.bscscan.com/token/0x4bd17003473389a42daf6a0a729f6fdb328bbbd7
Any other VAI token will be a scam and will result in a financial loss for users. Do not buy tokens from any other token address. Always verify the token address before purchasing tokens. If you receive airdrops from another address for VAI tokens, they will be rotten tokens (but not the cool kind!), and we advise you to ignore them.
Final words
Welcome back Venus (and Joselito)!
