# Venus Protocol: BNB Chain Lending Rates, Loans and VAI

> Venus Protocol lending on BNB Chain: supply and borrow APY per market, deposits, loans, VAI minted, Prime rewards, shortfall and liquidations, read on-chain.

Markdown copy of https://voltfincrypto.com/apps/venus-protocol-lending

**Question:** What do Venus markets pay and charge, how much is borrowed and how much VAI is minted against collateral?

- Kind: Dashboard in Voltfin Vantage
- Topic: [DeFi](https://voltfincrypto.com/topics/defi)
- Chains: BNB Chain
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

Venus is a lending protocol that started on BNB Chain and does nearly all of its lending there; governance has paused or retired most of its deployments on other chains. It works like the original Compound: each market is a vToken. Lenders mint vTokens when they supply and earn the market's rate through a rising exchange rate, while borrowers draw against everything they have supplied to the core pool. This dashboard reads every market's supply, borrows, rates and reserves from the vToken contracts.

Venus adds pieces Compound never had. VAI is a stablecoin users mint against their core pool collateral, with its own repay rate and minting limit. Venus Prime gives long-term XVS stakers a token that cannot be transferred and boosts their rates in selected markets. Isolated pools, each with its own assets and risk fund, were added beside the core pool, and governance has moved to wind them down. Each of these is shown on its own, never mixed into core pool totals.

Liquidations matter here: Venus has carried bad debt after past market shocks and attacks on single markets. Every liquidation is read from its LiquidateBorrow event, and each borrower's shortfall at a pinned block shows debt that collateral no longer covers.

## Blueprint

### Markets

Rates, deposits and loans for every Venus market.

- **Deposits** (USD): Assets supplied to the selected pool's markets, valued at the resilient oracle's prices.
- **Loans** (USD): Assets borrowed from the same markets, from totalBorrows() valued the same way.
- **Supply APY** (%): The supply APY of the selected market, compounded from its vToken supply rate.
- **Borrow APY** (%): The borrow APY of the selected market, compounded from its vToken borrow rate.
- **Every Venus market**: Each market with pool, chain, supplied, borrowed, utilization, supply APY, borrow APY, collateral factor and reserves.
- **Rates and utilization by day** (%): Supply APY, borrow APY and utilization of the selected market by day, with rate model changes marked.

### VAI and liquidations

VAI minted, liquidations and shortfall.

- **VAI in circulation** (VAI): VAI in circulation, from the VAI token's totalSupply() at the latest day-end block.
- **Debt in shortfall** (USD): Debt above what borrowers' collateral allows, summed over every account in shortfall at the latest pinned block.
- **VAI supply and repay rate** (VAI): VAI supply and the VAI repay rate by day, with governance changes to the rate marked.
- **Liquidations by day** (USD): Debt repaid and collateral seized in liquidations by day and market, from LiquidateBorrow events.

Filters: Pool (The core pool on BNB Chain, or an isolated pool or paused deployment shown with its status); Market (Every Venus market in the selected pool, such as USDT, BNB or BTCB).

## How it will be measured

- Each market's supply is vToken totalSupply() times exchangeRateStored(), and its borrows, cash and reserves are totalBorrows(), getCash() and totalReserves() at day-end blocks.
- Supply and borrow APY compound the per-block or per-second rates each vToken reports, whichever the market uses; the conversion is named beside each figure.
- VAI supply is the VAI token's totalSupply(), and the VAI repay rate comes from the VAI controller at the same block.
- Liquidations are LiquidateBorrow events with the debt repaid and the vTokens seized; shortfall comes from the comptroller's getAccountLiquidity for every borrower with debt.
- Prime rewards come from the Prime contract's reward rates per market and are shown apart from the base rates.

## Data it needs

- `lending_markets_daily` (to build): Supply, borrow, utilization and rates per lending market (Aave, Morpho, Spark, Compound, Euler and others) at day end.
- `liquidations` (to build): Every liquidation on major lending markets and perp venues: collateral seized, debt repaid, liquidator, and the price at the time.
- `token_supply_daily` (to build): Total supply of each registry token on each chain at day end: wrapped BTC, liquid staking tokens, tokenized assets and other tracked tokens.
- `protocol_revenue_daily` (to build): Fees users paid to each protocol and the part kept by the protocol or its token holders, per protocol and day, including buybacks.
- `native_prices_daily` (to build): Reference prices of major assets read from on-chain oracle feeds (Chainlink latestRoundData) at each day's last block, with each round's update time.
- Source: vToken totalSupply(), exchangeRateStored(), totalBorrows(), getCash() and totalReserves() at day-end blocks
- Source: vToken supply and borrow rate getters, per block or per second
- Source: Comptroller getAllMarkets(), markets() collateral factors and getAccountLiquidity(account)
- Source: VAI totalSupply() and the VAI controller's repay rate
- Source: LiquidateBorrow events with repayAmount and seizeTokens
- Source: Prime contract reward rates per market
- Source: The Venus resilient oracle's prices at the same block

## Questions

### What is Venus Protocol?

Venus is a lending protocol that does nearly all of its lending on BNB Chain. Lenders supply assets and earn interest; borrowers post collateral and borrow other assets, and can also mint VAI, the protocol's stablecoin. XVS is its governance token.

### How do Venus interest rates work?

Each market has an interest rate model that sets the borrow rate from utilization, rising steeply past a kink. Suppliers earn the borrow interest less the reserve factor. Markets quote their rates per block or per second, and the dashboard converts both to APY.

### What is VAI?

VAI is a stablecoin minted by Venus users against the collateral they supply to the core pool. Minting VAI uses up part of the borrower's borrowing limit, and minters pay a repay rate set by governance. VAI is designed to trade near one dollar.

### What is Venus Prime?

Venus Prime is a rewards program for long-term XVS stakers. Qualifying stakers receive a soulbound token, one that cannot be transferred, that boosts their supply and borrow rates in selected core pool markets, funded from part of the protocol's income.

### Does Venus have bad debt?

Venus has carried bad debt after past market shocks, when collateral fell faster than liquidations could cover, and after attacks on single markets. The dashboard reads each borrower's shortfall at a pinned block, so any debt not covered by collateral is visible together with the accounts that owe it.

## Glossary

- **vToken**: Venus's market token: supplying an asset mints vTokens whose exchange rate rises as interest accrues.
- **Core pool**: Venus's main set of markets, where any listed collateral can back loans in any other market.
- **Shortfall**: The amount by which a borrower's debt exceeds what their collateral allows, which makes the account liquidatable.

## Related apps

- [DeFi Lending Rates Table: Utilization and LTV by Market](https://voltfincrypto.com/apps/defi-lending-rates-table)
- [BNB Chain Daily Transactions and Active Addresses](https://voltfincrypto.com/apps/bnb-chain-transactions)
- [Compound v3 Markets: Rates, Collateral and Reserves](https://voltfincrypto.com/apps/compound-v3-markets)
- [DeFi Lending Bad Debt Tracker](https://voltfincrypto.com/apps/defi-lending-bad-debt)
- [DeFi Liquidations Tracker: Lending and Perp DEXs](https://voltfincrypto.com/apps/defi-liquidations-tracker)
- [DeFi TVL by Chain: Total Value Locked Rankings](https://voltfincrypto.com/apps/defi-tvl-by-chain)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F