VVS Finance

The VVS website went live on November 5, 2021. Cronos mainnet followed on November 8, and VVS opened CRO/WBTC and CRO/ETH farms on November 9. The sequence mattered: bridged assets reached a new chain and immediately found a place to trade and earn.

VVS advertised no private sale. Instead it scheduled 50 trillion tokens for the first year and annual halvings afterward. This placed early dilution in public farms rather than a disclosed discounted venture round, but it still made emissions—not organic fees—the first subsidy for liquidity.

Cronos Labs recorded VVS at about $1.03 billion TVL on November 30 and later said it peaked at $1.4 billion within three months. Those figures belong to a specific launch boom. They show the incentive worked; they do not show that the same capital stayed.

Farm rewards came from Craftsman, which mints through the token it owns. The yearly initializer halves its target and preserves at least 30% for community emission, while block rewards are calculated with a six-second assumption. No line checks total supply against 100 trillion.

In March 2022, VVS added a second token rather than changing VVS itself. A staker deposited VVS and received xVVS at an initial 1:1 rate. Buybacks would put more VVS behind that receipt, letting its exchange rate rise without paying a fixed coupon.

The stated 0.3% trading fee was divided three ways: 0.2 point to LPs, 0.08 to VVS buybacks and 0.02 to treasury. That is a programmed economic route, not a fixed income promise. Low trading volume, execution timing and later pool settings determine what xVVS actually accrues.

The September 2023 beta let LPs stop covering prices from zero to infinity and choose a range. Official farms and analytics arrived in December. Capital could be concentrated where trades happened, but when price left the selected band the position became one-sided and stopped earning fees.

This also complicates the old fee shorthand. V3 supports 0.01%, 0.05%, 0.3% and 1% pool tiers. The documented 0.3% split is useful evidence for that fee path; it is not evidence that every tier sends the same shares to xVVS, LPs and treasury.

Current token documentation says maximum supply is fixed at 100 trillion and burns reduced total supply to about 95.1 trillion. On 5 September 2026, the Cronos ledger at block 91,908,644 reported approximately 101.636 trillion VVS: about 1.636 trillion above the stated cap and 6.536 trillion above the post-burn figure.

Control remains operationally concentrated. VVSToken is owned by Craftsman; Craftsman is owned by an EOA. That owner can change pool allocation, multiplier, staking ratio and migrator and trigger annual distribution. The team still describes binding decisions as its own, with holder governance left for future phases. Until VVS publishes a reconciliation, the chain count outranks the supply label.