Veno Finance Overview
- What is Veno Finance?
Veno Finance is a liquid staking protocol offering a simple and secure solution on networks of Cronos and zkSync Era, allowing users to stake assets like CRO, ATOM, and ETH to earn rewards. It provides liquid tokens in return for staked assets, enabling use across partner protocols for additional earnings. The platform features its own protocol token, VNO, which serves various utilities including governance, earning extra rewards, and enhancing liquidity. Veno is backed by enterprise-grade infrastructure for optimal security and performance.
- Main Features
- Multiple yield systemManaging their own node infrastructure for stakingEarning VNO RewardsDeep liquidityUser-friendly interface
- Blockchains
- ZkSync Era
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Frequently asked questions
Liquid staking lets users earn without freezing their assets. By putting tokens into pools, they get a liquid token, enabling earnings maximization through different protocols without unstaking.
Veno generates revenue by taking a percentage of staking rewards and withdrawal fees. In Cronos, it charges a 10% fee on staking rewards, including validator commission, and a 0.2% fee for unstaking. For zkSync Era, the fee is 12% on rewards, half of which goes to the Reservoir on zkSync Era, with the rest to its Staking Pool provider, Kiln.
The Reservoir serves as Veno's reward participation and insurance module, offering users the option to lock VNO for varying durations to earn CRO/ATOM on Cronos or ETH on zkSync Era, with rewards increasing with lock time and amount. On Cronos, Veno allocates 50% of validator rewards to VNO stakers without additional commission, and similarly, 50% of ETH rewards commissions on zkSync Era. However, Reservoir stakers also share the risk of slashing penalties, with Veno compensating for losses from its treasury and future reward shares until full recovery.
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