Venus is an algorithmic-based money market system designed to bring a complete decentralized finance-based lending and credit system onto Binance Smart Chain. Venus enables users to utilize their cryptocurrencies by supplying collateral to the network that may be borrowed by pledging over-collateralized cryptocurrencies. This creates a secure lending environment where the lender receives a compounded interest rate annually (APY) paid per block, while the borrower pays interest on the cryptocurrency borrowed. These interest rates are set by the protocol in a curve yield, where the rates are automated based on the demand of the specific market, such as Bitcoin. The difference of Venus from other money market protocols is the ability to use the collateral supplied to the market not only to borrow other assets but also to mint synthetic stablecoins with over-collateralized positions that protect the protocol. These synthetic stablecoins are not backed by a basket of fiat currencies but by a basket of cryptocurrencies. Venus utilizes the Binance Smart chain for fast, low-cost transactions while accessing a deep network of wrapped tokens and liquidity.
| Steps | How it works |
|---|---|
| Joining an Affiliate Program | Similar to traditional affiliate marketing, you start by join a crypto affiliate program by contacting a business development manager or access affiliate program homepage. |
| Getting Your Unique Affiliate Link | Each program has its own requirements. Once you qualify, you will receive your unique affiliate link. It is with this link that you’ll promote the company’s products or services. |
| Promoting Products/Services | You then promote the products or services through various channels, including blogs, websites, email newsletters, or social media platforms. |
| Earning Commissions | When someone clicks on your affiliate link and completes a desired action (such as signing up), you earn a commission like a fixed fee per conversion or by percentage of transaction volume. |
| Tracking and Analytics | You can see metrics such as clicks, conversions, and commissions earned. This enhances your marketing campaigns and generates better results. |
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