VVS Finance Decentralized Exchange Review

The vendor says that VVS Finance is your doorway to the decentralized finance movement. The exchange focuses on making decentralized finance easy and reachable to billions of users by facilitating fast transactions, providing competitive earnings, and charging low fees. 

In this regard, you are invited to join the platform and begin earning sparkly VVS rewards. 

VVS Finance background

This DEX was launched in 2021 by individuals who call themselves avid DeFi enthusiasts. They first came together to develop DeFi products for their neighbors and aunts. The main goal was to bring these incredible protocols to the public. However, the identity of the team members is not disclosed.  

VVS Finance overview

VVS Finance is a decentralized exchange that utilizes automated market-making (AMM). According to the vendor, the exchange provides a good platform for traders to swap and earn yields using the best rates. 

Pros & cons

Pros

• More than 20 tokens are supported
• Liquidity providers are paid 

Cons

• Does not work with fiat currencies
• Impermanent risk is real
• Only 3 wallets are integrated

Funding methods:	Cryptocoins
Cryptocurrencies supported:	26
Countries:	N/A

Key features of VVS Finance

We have listed the main features of VVS Finance below:

• It allows you to swap supported tokens fast using low fees.
• Traders can create and supply liquidity and earn 0.2% transaction fees whenever their pairs are traded.  
• The DEX includes crystal farms where users can stake their LP tokens to get VVS rewards.
• It integrates glitter mines to allow users to stake their newly earned VVS tokens to receive additional VVS.

What wallets does it support?

VVS Finance is compatible with 3 wallets, including Metamask, Crypto.com DeFi Wallet, and Crypto.org Chain Desktop Wallet. 

How does VVS Finance work?

As a DeFi protocol, VVS lets everyone swap tokens without a centralized order book and provide liquidity to earn passive income by collecting trading fees. Since VVS is built on automatic smart contracts, it can and continues to create more use cases. In fact, an Initial Gem Offering (IGO) will be introduced to the platform soon.   

What can you buy with VVS Finance?

Here is a list of the tokens you can buy on the exchange:

• WBTC
• WETH
• USDC
• WCRO
• VVS
• USDT
• DAI
• SHIB
• LUNA
• XLM
• SINGLE
• CRO
• DERC
• and more

Are there any risks with VVS Finance?

Yes, there are. VVS Finance was audited by Slowmist and the firm reported that the platform is medium-risk. The audit team found several vulnerabilities, which could pose threats to your assets. The vendor even warns that you assume all risks emanating from interactions with the DEX. There’s also the potential risk of users suffering an impermanent loss when they provide liquidity. In any case, the exchange mitigates this risk by giving liquidity providers transaction fees and farming rewards. 

VVS Finance fees

A 0.3% fee is charged for trades you perform on the VVS, of which 0.2% is supplied to LP providers and the other 0.1% goes to the treasury. After the launch of xVVS, the team saw it fit to introduce a 0.08% fee of the 0.3% platform profits to be used to purchase VVS from the market. Staking tokens in the auto VVS mine also attracts a performance fee. So, the platform will deduct 2% of the VVS reward amount automatically from every harvest. If you unstake your tokens in the mine within 72 hours, the DEX will require you to pay a 0.1% fee. 

Deposit methods

The platform gives you the option of depositing xVVS in the xVVS vault to enhance your earnings as well as farm rewards without facing the risk of impermanent loss. Every deposit is assigned an end date, allowing you to collect them at different periods. 

Should you buy it?

You might try out the product if DeFi is not a strange concept to you. As we have learned in the previous sections, the platform can keep your assets to work and help you earn extra money. However, you need to be cautious of the risks the exchange presents.