Venus is a lending platform, and its lending process is very similar to Aave, with the main difference being the collateral accepted by the platform. I usually choose USDT or BTCB as collateral.

The advantage of collateralized lending is the extremely low cost; the interest and gas fees for each loan I take are usually no more than 0.1u. In comparison, if I choose to buy 3$BNB while simultaneously shorting to hedge, just the transaction fee for buying and selling 3BNB would be at least 4.5u. If I don't hedge in time, I might suffer from the drop in BNB, leading to significant losses.

So I prefer collateralized lending, which is flexible and low-cost.

Currently, I have placed an order for 6.2 BNB at the price of 970 u, planning to hold it for the long term.

Some very simple English words:

Supply: to supply; to provide

Borrow: to borrow; lending (you borrow from me using borrow)

Lend: to lend (I lend you use lend)

Repay: to repay

Withdraw: to withdraw; to extract

📌 Steps for Venus lending:

1. Enter Venus

2. Collateralize USDT (may require 4500 USDT)

3. Borrow BNB

4. Repay BNB

5. Retrieve USDT

I. Enter Venus

On the 'Discover' page of the Binance wallet, you can search for various dApps by simply entering 'Venus' and clicking to enter.

It looks like this after entering:

II. Collateral (Supply) USDT on the BSC chain

① Link your wallet and ensure there is USDT on the BSC chain in the wallet

② Search for USDT and click to enter the USDT detail page

After entering the USDT detail page, you can start to collateralize and supply USDT. 4500 U should be enough to borrow 3.01 BNB. If not enough, add to 4800 or 5000.

III. Borrow 3.01 BNB

Go to CorePool to find BNB

After entering Core Pool, search for BNB, then scroll down to find BNB. There is no prefix before $BNB ! Click on BNB to enter the detail page.

After entering the BNB detail page, switch to the Borrow page, then enter 3.01 BNB.

IV. Repay BNB

Repaying is very simple, max means the maximum, click max to repay both the loan and interest together without paying separately.

V. Retrieve USDT

Withdraw means to take out money

The steps are very simple, you can try a small amount yourself, feel free to leave a message if you have any questions.

When entering Venus, a VPN may be needed. If you can't get in, please turn on the VPN.