The Venom blockchain is emerging as a powerful player in the decentralized ecosystem, offering scalable infrastructure and developer-friendly tools for building next-generation Web3 applications. At the heart of this network are its native assets and token standards that enable seamless value transfer, smart contract functionality, and decentralized finance (DeFi) innovation.
This guide explores the core components of Venom’s digital economy — from its native currency to token standards and wrapped assets — providing both developers and users with a clear understanding of how value moves within the ecosystem.
What Is VENOM?
VENOM is the primary native cryptocurrency of the Venom blockchain, serving a role similar to ETH on Ethereum. It powers transactions, secures the network, and enables participation in consensus through staking.
All transaction fees on the network are paid in VENOM, ensuring that validators are compensated for maintaining system integrity. The smallest divisible unit of VENOM is called Nano VENOM, which allows for microtransactions and precise fee calculations.
Here’s a breakdown of VENOM denominations:
- NanoVENOM: 0 decimal places — 1 NanoVENOM = 0.000000001 VENOM
- MicroVENOM: 3 decimal places — 1 MicroVENOM = 0.000001 VENOM
- MilliVENOM: 6 decimal places — 1 MilliVENOM = 0.001 VENOM
- VENOM: 9 decimal places — Base unit used in wallets and exchanges
Understanding these units is essential when interacting with dApps or calculating gas costs on the network.
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Core Utilities of VENOM
Beyond being a medium of exchange, VENOM plays several critical roles in sustaining and securing the Venom blockchain:
- Transaction Fees: Every operation on the network — whether sending tokens or executing smart contracts — requires a fee paid in VENOM.
- Proof-of-Stake (PoS) Mechanism: Validators stake VENOM to participate in block production and earn rewards. This mechanism ensures network security and decentralization.
- DePool Staking: Users can delegate their VENOM to DePools (decentralized staking pools), allowing them to earn passive income without running validator nodes.
These utilities make VENOM more than just a tradable asset — it's an integral part of the network's economic model and governance structure.
Token Standards on Venom
To support diverse use cases, the Venom network implements standardized protocols for creating and managing digital tokens. These standards ensure interoperability across dApps, wallets, and exchanges.
TIP-3: Fungible Tokens
TIP-3 is the foundational standard for creating fungible tokens on Venom — equivalent to ERC-20 on Ethereum. Designed to align with Venom’s unique multithreaded architecture, TIP-3 optimizes gas efficiency and reduces transaction costs.
Use cases for TIP-3 tokens include:
- Stablecoins
- Governance tokens
- Loyalty points
- Utility tokens for dApps
Key features provided by the TIP-3 standard:
- Transfer tokens between accounts
- Query account balances
- Check total token supply
- Mint new tokens (if allowed by issuer)
- Burn existing tokens
Developers looking to launch their own token can follow structured guides to deploy TIP-3-compliant contracts efficiently.
TIP-4: Non-Fungible Tokens (NFTs)
For unique digital assets, the Venom network supports the TIP-4 standard — the go-to protocol for NFTs. Built specifically for Venom’s distributed architecture, TIP-4 enables creators and collectors to mint, trade, and manage non-fungible tokens with high performance and low fees.
Common applications of TIP-4 NFTs:
- Digital art and collectibles
- In-game items and avatars
- Event tickets
- Identity verification tokens
The standard ensures full ownership control, secure transfers, and metadata flexibility, making it ideal for creative economies and metaverse projects.
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What Is Wrapped VENOM (WVENOM)?
Wrapped VENOM, or WVENOM, is a TIP-3-compatible version of the native VENOM token. It exists as a smart contract-based token, enabling compatibility with DeFi protocols that require fungible token interfaces.
Token Address: 0:77d36848bb159fa485628bc38dc37eadb74befa514395e09910f601b841f749e
Why Does WVENOM Exist?
While VENOM is the native currency, many decentralized applications — especially DEXs, lending platforms, and yield aggregators — are built to interact with TIP-3 tokens only. Since native coins operate differently from smart contract tokens, wrapping converts VENOM into a format these protocols can process seamlessly.
For example:
When swapping VENOM → USDT on a decentralized exchange (DEX), the system automatically wraps your VENOM into WVENOM first, then executes the trade using the WVENOM/USDT liquidity pool.
This process happens behind the scenes, so most users don’t need to manually wrap or unwrap unless they’re integrating directly with smart contracts.
Is WVENOM Different From VENOM?
No — WVENOM is fully backed 1:1 by native VENOM. Each WVENOM token represents exactly one VENOM held in reserve. You can convert between the two at any time through official bridges or supported wallets.
This wrapping mechanism is common across blockchains:
- wETH on Ethereum
- WBTC on Bitcoin-backed tokens
- WBNB on Binance Smart Chain
It enhances composability within DeFi while preserving asset value.
Frequently Asked Questions (FAQ)
Q: Can I stake WVENOM instead of VENOM?
A: No. Only native VENOM can be staked directly or delegated to DePools. If you hold WVENOM, you must unwrap it back to VENOM before participating in staking.
Q: Are there fees for wrapping or unwrapping VENOM?
A: Yes. Wrapping and unwrapping involve smart contract execution, so small gas fees in VENOM are required. However, these costs are typically minimal due to Venom’s low-fee architecture.
Q: Where can I use WVENOM?
A: WVENOM is accepted across most DeFi platforms on Venom, including decentralized exchanges (DEXs), lending protocols, and yield farms that require TIP-3 token inputs.
Q: Is WVENOM centralized?
A: While the wrapping mechanism relies on smart contracts, trust is maintained through transparency and audited code. As long as the bridge operates correctly and reserves are verifiable, WVENOM remains a reliable representation of native VENOM.
Q: How do I wrap or unwrap VENOM?
A: Most Venom-compatible wallets (like Venom Wallet or MetaMask with Venom add-ons) offer built-in wrapping functions. Simply select “Wrap” or “Unwrap” and confirm the transaction.
Final Thoughts
The Venom network combines scalability with robust tokenization standards to support a growing ecosystem of decentralized applications. By understanding how VENOM, TIP-3, TIP-4, and WVENOM function together, users and developers gain deeper insight into the mechanics driving innovation on this high-performance blockchain.
Whether you're launching a new project or exploring DeFi opportunities, familiarity with these core assets empowers smarter decisions and smoother interactions within the Venom ecosystem.
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Venom network, VENOM token, TIP-3 standard, TIP-4 NFT, Wrapped VENOM (WVENOM), DeFi on Venom, blockchain assets, staking on Venom