What is vTokens (Venus)?

vTokens are the primary mechanism for users to interact with the Venus Protocol. vTokens are collateral-pegged assets that allow users to tokenize their traditional crypto assets such as bitcoin (BTC) or ether (ETH) in exchange for vBTC or vETH. vTokens are used on the protocol as a redemption tool for borrowing and supplying assets and minting VAI stablecoins. As well, transactions with vTokens — including redeeming, repaying a borrow, liquidating a borrow, or transferring — is done through a vToken contract. Examples of vTokens that are available on Venus include: vBTC, vETH, vBNB, vBUSD, vUSDC, and vXVS.