Venus ETH (VETH) is a type of vToken, part of the Venus Protocol, which operates on the BNB Smart Chain (BEP20) platform. vTokens, including VETH, are tokenized representations of users' supplied balances on the Venus Protocol. Each vToken, such as VETH, has a unique BEP20 address and can be viewed on BNB Chain explorers like bscscan.

Venus ETH, like other vTokens, is utilized in the Venus Protocol for various DeFi activities, including lending, borrowing, and minting synthetic stablecoins. Users who supply assets to Venus receive an equivalent amount of vToken (like VETH) in return. These vTokens represent the supplied balance and earn interest over time. The value of the underlying assets of a vToken increases based on the market’s Supply Annual Percentage Rate (APR). VETH and other vTokens are transferable and continue to earn interest irrespective of their location. However, they also play a critical role in determining the Borrow Limit of the wallet they are held in, and transferring vTokens can lead to liquidation scenarios.

Venus ETH (VETH) was created as part of the Venus Protocol, which was founded and developed by Joselito Lizarondo, who is also the CEO and founder of Swipe. The Venus Protocol was one of the earliest decentralized applications on the Binance Smart Chain and combined elements of MakerDAO and Compound Protocols with additional features, offering an all-in-one money market protocol with a built-in synthetic stablecoin platform​​​​​​​​.