VVS is a decentralized application that supposedly helps you to take charge of your finances and earn VVS rewards. It was launched back in November 2021 by a team of modest farmers who came together to create DeFi products for the trading community. The goal of the company is to make DeFi simple and accessible to billions of traders by providing competitive earnings, low fees, and fast transactions.
VVS Finance overview
We describe the key features of the platform below:
This allows users to swap between any 2 tokens supported by paying a swap fee of 0.3%. To attain a better price for the requested pair, VVS’ own routing algorithm will route the swap across different liquidity pools.
- Glitter mining
Non LP users can stake VVS tokens to get VVS/partner token rewards. You can also receive key functionalities like view, stake, ROI calculator, claim, and auto-compounding.
- Initial Gem Offering (IGO)
This provides early access to tokens in the Cronos ecosystem.
- Provision of liquidity
You can become a liquidity provider (LP) when you deposit tokens into a liquidity pool. As an LP, you will get a CRC-20 pool token (LP token) as evidence of proportional ownership of the assets in that pool.
- Crystal farming
By staking their tokens, LPs can earn VVS rewards.
The platform has a dashboard feature where users can view the tokens’ overall performance, including trading volume, liquidity, etc. The company promises to support the integration of wallets and access through API in the future.
How does VVS Finance work?
The app allows you to do the following:
- Stake your VVS tokens.
- Be a liquidity provider.
- Trade CRC20 tokens.
What can you buy on VVS Finance?
On VVS Finance, you can purchase different tokens, such as:
- USD Coin
Is VVS Finance safe?
The software is said to have been designed with security in mind and community governance at heart. Being a decentralized exchange, VVS is safe by default. This is because its servers are spread all over the world, making it difficult for hackers to attack it and steal funds. Furthermore, since there is no centralized control over funds on VVS, you are the only person who can access them.
VVS Finance fees, compatible wallets, and transactions
Currently, VVS Finance supports 3 main wallets, which include:
- Crypto.com DeFi Wallet
- Crypto.org Chain Desktop Wallet
The first 2 wallets support VVS in their mobile browser enabling you to trade anytime you want while monitoring your prized VVS.
Several fees are charged for using some of the services provided. We have listed them below:
- Swap fees
- Participation fees for the unlimited sale found in the IGO feature
- Gas transaction fees
- LP-holder fees
What are the ways to trade on VVS Finance?
This DEX offers a variety of trading options to choose from. You can find them below:
- This entails swapping between any two tokens that VVS supports.
- This allows you to stake LP tokens so as to earn VVS.
- Through this feature, you can stake VVS to obtain VVS or partner tokens.
- By becoming an LP, you can receive the swap fees that other users pay for swapping through your liquidity pool.
The owners say that since VVS is a decentralized protocol, the traditional customer service is unavailable. So, if you are experiencing any issues with the service, the advice is to consult FAQ and Troubleshooting resources first. If the problem persists, then you can join the Discord/Telegram channel and ping the admins. If the issue is not resolved, you are asked to email the support team. The contact email address can be found on the official site.
Should you trade with VVS Finance?
VVS Finance summaryVVS Finance summary
- Allows you to earn passive income
- Provides different trading options
- Has a dashboard
- The app is still new