Binance announced a new money market system called Venus that features a design that is a combination of both MakerDAO (MKR) and Compound (COMP).Binance first announced Venus in August 2019, saying that it aims to break “financial hegemony”Running on the Binance Smart Chain, the stablecoin VAI will be collateralized with different tokens based on the Binance standard, BEP-20The exchange said that Venus would remove the pain points of Ethereum, as it is built on the Binance Smart Chain Users can initially earn interest on 3 assets: Binance Coin (BNB), Swipe (SXP) and the VAI stablecoinBinance CEO Changpeng Zhao has described the new stablecoin as a mix of MakerDAO and Compound; it has also been called a “regional Libra”Related Reading:Binance launches Binance Smart ChainBinance CEO believes DeFi is the futureResourceshttps://twitter.com/JLSwipe/status/1310671405080510464/photo/1DeFi Binance Stablecoin Binance News