Venus SXP wallet

What is Venus SXP (VSXP)?

Behind vSXP is SXP, the token that started as the asset of the Swipe payment card product and was later carried over to the Solar project and its own chain. vSXP itself never left BNB Smart Chain: it is the receipt Venus mints when SXP is supplied to its market, a claim on the BEP-20 form of the token rather than on whatever representation exists elsewhere.

That history is the thing to hold in mind. Because SXP has had more than one home and more than one contract over its life, a vSXP balance should not be assumed to track the version of SXP a given exchange lists. Redeeming returns the BNB Chain token, and anything beyond that point is a separate bridging or swapping step.

Mechanically vSXP follows the pattern of every Venus receipt. The number of tokens stays fixed; the rate at which they convert back into SXP moves upward as borrowers service their loans. The receipt uses 8 decimals, so the figure on screen has no visual relationship to the SXP amount deposited. If the deposit was switched on as collateral, part of it will not transfer while a borrow is outstanding.

Where Tangem helps with an asset that has been through contract changes and a rebrand: the key that controls the address is created in the card's chip and stays there, so the address stays the same whatever happens to the token standard around it, and a claim registered against it remains reachable. That continuity is the argument for keeping something with this kind of history on a card.

Supported networks in Tangem (1): BNB Smart Chain.