I have talked about a couple of my other experiences on the Cronos blockchain in the past, but today I will talk about my first. That's right, it's time to talk about diamond hands! My experience with VVS Finance is actually quite different than my others, as it is the first decentralized application I have ever used. Nevertheless, it has still been a pleasurable experience and acted as a great gateway for me into the wide world of DeFi.
Largest DEX on Cronos
One thing that really caught my eye when I first laid my precious rookie eyes on VVS Finance was its exposure and total value locked in liquidity on its protocol. Around late November of 2021, VVS Finance was one of the only decentralized applications featured on the Crypto.com DeFi Wallet. This served as a huge green flag to someone who had just got into crypto and wanted to ensure security as my top priority. Furthermore, VVS currently has a market cap of over $260 million dollars, which is definitely a lot for a DEX on a beta blockchain such as Cronos. Additionally, the total amount of liquidity on their protocol is currently around $1.26 BILLION (Yes, Billion) dollars. Even at $900 million dollars (the liquidity when I discovered VVS), this whopping amount of money won me over instantly.
Long Term Visions
Another thing that really attracted me to VVS Finance was its committed long term goal of bringing DeFi to everyone through its accessibility and simplicity. These visions, in my mind, are real and attainable goals that will definitely lead to future growth as crypto is getting more and more popular in the world as a form of secure assets that cannot be impacted by sanctions or bank seizures. However, one concern I do have about VVS is how its price has fallen significantly since November of 2021. This is no surprise, as we are in a bear market resulting from wars and the pandemic, but other projects such as Mad Meerkat Finance have found ways to overcome that by increasing the utility of their protocol within an interconnecting ecosystem, which I would love to see VVS do in the long run.
Amazing Competitions and Events
VVS Finance also holds a special place in my heart for its creativity as it has had some very interesting and creative competitions such as the Christmas Snowball Battle on their Discord server. For example, they had an entire week (the week of December 19th-25th 2021) where they had daily Christmas events. These included raffles for trading certain tokens, a scavenger hunt on their site, a guessing game for their future liquidity, a competition for the best feedback responses and even a meme competition (which I was one of the winners :D). If you guys were wondering here was the meme (kind of ironic).
Extremely Easy to Use
Another part of VVS Finance that really initially caught my eye was the fact that it has a dashboard where you can view everywhere you have staked, whether that be the farms and/or glitter mines. The price of their token on the top right of their site is also a nice sight to always know how your investment is doing.
All in all, VVS was a great project for me to start off with in the world of DeFi. It allowed me to learn a lot about how DeFi protocols work!
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Also posted on my blog: https://thecronosexperience.blogspot.com/
