CVIP FEATURES

CVIP is based on multiple applications. In which some latest and trending application exist and some are ongoing.

The application list is given below.

• YIELD FARMING

• DEFI STAKING

• NFT

• AI

• CASINO GAMING

• IDO

• VIP Swap (DEX)

WHAT IS YIELD FARMING?

Yield farming is a means of earning interest on your cryptocurrency, similar to how you'd earn interest on any money in your savings account. Similarly to depositing money in a bank, yield farming involves locking up your cryptocurrency, called "staking," for a period of time in exchange for interest or other rewards, such as more cryptocurrency.

Since yield farming began in 2020, yield farmers have earned returns in the form of annual percentage yields (APY) that can reach triple digits. But this potential return comes at high risk, with the protocols and coins earned subject to extreme Volatility and rug pull wherein developers abandon a project and make off with investors' funds.

WHAT IS STAKING?

Cvip DeFi staking is the process of locking up crypto holdings in order to obtain rewards or earn interest. Cryptocurrencies are built with blockchain technology, in which crypto transactions are verified, and the resulting data is stored on the blockchain. DeFi Staking is another way to describe validating those transactions on a blockchain.

Depending on the types of cryptocurrency you’re working with and its supporting technologies, these validation processes are called “proof-of-stake” or “proof-of-work.” Each of these processes helps crypto networks achieve consensus, or confirmation that all of the transaction data adds up to what it should.

However achieving that consensus requires participants. That’s what staking is—investors who actively hold onto, or lock up their crypto holdings in their crypto wallet are participating in these networks’ consensus-taking processes. Stakers are, in essence, approving and verifying transactions on the blockchain.

WHAT IS NFT?

“Non-fungible” more or less means that it’s unique and can’t be replaced with something else. For example, a Binance is fungible — trade one for another bitcoin, and you’ll have the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different.

HOW DOES NFT WORKS?

At a very high level, most NFTs are part of the Binance blockchain. Binance is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an ETH coin. It is worth noting that other blockchains can implement their versions of NFTs.