Venus Protocol is a decentralized finance (DeFi) platform on the BNB Chain that enables users to lend, borrow, and earn interest on cryptocurrency assets without intermediaries. Its native governance token, XVS, allows holders to participate in decision-making processes, such as proposing and voting on protocol changes, including adding new collateral types and adjusting parameters.

In addition to its lending and borrowing services, Venus allows users to mint VAI, a synthetic stablecoin pegged to the U.S. dollar. By supplying supported cryptocurrencies as collateral, users can mint VAI up to a certain percentage of their collateral value, providing liquidity without needing to sell their assets.

The protocol emphasizes risk management, decentralization, and user experience. Recent updates have introduced features like Isolated Pools, which are independent collections of assets with custom risk configurations, and the Resilient Price Oracle, which fetches prices from multiple sources to provide reliable indicators and protect against price manipulations.