VAI, issued by the Venus Protocol smart contracts under the governance of XVS tokenholders, is a crypto-collateralized synthetic stablecoin that tracks a 1 U.S. dollar (USD) peg through a stability-fee mechanism and a Peg Stability Module [S1][S2][S3].

VAI references the U.S. dollar (USD) at a 1:1 peg and is minted against onchain collateral supplied to the protocol rather than fiat reserves [S1][S4]. It does not accrue yield or distribute income; it tracks the peg via stability mechanisms [S1][S2]. Borrowers who mint VAI bear a stability fee combining a base rate plus a variable rate, calculated block-by-block and added to the minted balance [S1]. VAI minted through the Peg Stability Module incurs configurable feeIn and feeOut swap fees instead [S2].

VAI is not issued by a single corporate entity; the protocol stores funds in public, open-source, formally verified and audited smart contracts whose parameters are controlled by XVS tokenholders through onchain governance [S5][S3]. The holder's claim is a synthetic stablecoin minted against collateral, not a claim on a corporate issuer's reserves [S1]. Borrowing VAI via the dashboard is available exclusively for Venus Prime users, which requires XVS staking, while VAI is also obtainable through the Peg Stability Module by supplying USDT [S1][S2][S6]. Holders exit by repaying minted VAI to free collateral or by swapping VAI for USDT 1:1 through the module, subject to available liquidity and the feeOut fee [S1][S2].

VAI is an onchain token operating on BNB Chain mainnet [S4]. The VAIController mints VAI when a user holds sufficient eligible collateral up to market collateral factors, and the Peg Stability Module supports 1:1 USDT conversions valued by the Resilient Oracle [S2][S4]. Settlement is onchain and effectively immediate, subject to available PSM USDT, with fees routed to the Venus Treasury [S2].

<Sources
  retrievedAt="2026-06-24"
  items={[
    { id: "S1", url: "https://docs-v4.venus.io/tokens/vai" },
    { id: "S2", url: "https://docs-v4.venus.io/whats-new/psm" },
    { id: "S3", url: "https://docs-v4.venus.io/governance/tokenomics" },
    { id: "S4", url: "https://docs-v4.venus.io/tokens/vai.md" },
    { id: "S5", url: "https://docs-v4.venus.io/getting-started/faq" },
    { id: "S6", url: "https://docs-v4.venus.io/llms-full.txt" },
  ]}
/>


# Asset Price methodology

## 1. Overview

Asset price represents the closing USD value of a tokenized asset at the end of each day. Daily prices are recorded to facilitate the valuation of on-chain activity and the calculation of market capitalization. Each price point reflects the market value at the conclusion of the UTC day.

## 2. Data sources

- **Asset metadata**: Token contract addresses, ticker identifiers, and on-chain launch timestamps
- **External data**: End-of-day price feeds and exchange rate feeds from market data providers
- **Blockchain data**: Data covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others) and non-EVM chains such as Solana, Aptos, and Near

## 3. Step-by-step calculation

### Component A: Market data retrieval

- **Purpose**: Collect raw daily price information
- **Logic**: Daily price data is retrieved from external market data providers. For assets pegged to specific currencies, prices are calculated using a multiplier and daily exchange rates. For assets traded on traditional exchanges where data is unavailable on certain days, such as weekends or holidays, missing values are filled with the last available closing price.

### Component B: Timestamp normalization

- **Purpose**: Align price data with daily reporting periods
- **Logic**: Timestamps are truncated to the daily grain. To accurately reflect the closing value, prices recorded at the start of a day (00:00:00 UTC) are assigned to the preceding calendar day.

### Component C: Asset mapping and deduplication

- **Purpose**: Associate prices with unique assets and resolve data overlaps
- **Logic**: Prices are mapped to assets using unique identifiers for EVM-compatible and non-EVM chains. To ensure data integrity, price records are filtered to include only those occurring on or after the asset's on-chain launch date. In instances where price data for a single asset is available from multiple sources, the data is deduplicated by selecting the record with the highest priority to ensure a single, consistent closing price.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Asset price

Stablecoins

Lenders deposit funds into Venus and receive interest payments from borrowers (supply-side fees).

Venus is a non-custodial lending protocol built on BNB chain. Venus was founded by Joselito Lizarondo and launched in 2020.

XVS tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue).

Venus VAIVAI