> For the complete documentation index, see [llms.txt](https://docs-v4.venus.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs-v4.venus.io/technical-reference/reference-core-pool/vtoken.md). # VToken This page applies only to markets in the BNB Chain Core Pool. It replaces the previous unscoped reference to the abstract `VToken` base, which is not a complete deployable market API. {% hint style="danger" %} Core Pools on Ethereum, opBNB, Arbitrum, ZKsync, Optimism, Base, and Unichain use the BeaconProxy VToken architecture from the `isolated-pools` repository. Use the [BeaconProxy VToken reference](/technical-reference/reference-isolated-pools/vtoken/vtoken.md) for those deployments. {% endhint %} ## BNB market types | Underlying | Runtime pattern | Concrete API | | ------------------- | ------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | ERC-20/BEP-20 token | `VBep20Delegator` proxy → `VBep20Delegate` | [VBep20.sol](https://github.com/VenusProtocol/venus-protocol/blob/v10.3.0/contracts/Tokens/VTokens/VBep20.sol) plus shared [VToken.sol](https://github.com/VenusProtocol/venus-protocol/blob/v10.3.0/contracts/Tokens/VTokens/VToken.sol) | | Native BNB | Standalone `VBNB` contract | [VBNB.sol](https://github.com/VenusProtocol/venus-protocol/blob/v10.3.0/contracts/Tokens/VTokens/VBNB.sol) plus shared `VToken.sol` | At BNB Chain block `118,363,255`, the vUSDC delegator reported implementation `0xCDfea50f7CECCB24Fe804657DB8E6c93b689941e`, the delegate installed for the BNB Core ERC-20 markets upgraded by [VIP-640](https://venus.io/governance/proposal/640?chainId=56). Resolve `implementation()` on the exact market instead of assuming every market points to the same delegate. Current market addresses are listed in [Deployed Markets](/deployed-contracts/markets.md). ## User entry points The native-value convention is the most important ABI difference: | Operation | ERC-20 underlying market | Native BNB market | | --------------------- | ---------------------------------------------------------------------------------- | -------------------------------------------- | | Supply | `mint(uint256 mintAmount)` after underlying-token approval | `mint()` payable, or send BNB to `receive()` | | Redeem vTokens | `redeem(uint256 redeemTokens)` | `redeem(uint256 redeemTokens)` | | Redeem underlying | `redeemUnderlying(uint256 redeemAmount)` | `redeemUnderlying(uint256 redeemAmount)` | | Borrow | `borrow(uint256 borrowAmount)` | `borrow(uint256 borrowAmount)` | | Repay own debt | `repayBorrow(uint256 repayAmount)` after underlying-token approval | `repayBorrow()` payable | | Repay another account | `repayBorrowBehalf(address,uint256)` after underlying-token approval | `repayBorrowBehalf(address)` payable | | Liquidate | `liquidateBorrow(address,uint256,VTokenInterface)` after underlying-token approval | `liquidateBorrow(address,VToken)` payable | For ERC-20 markets, approve the **underlying token** for supply, repay, and liquidation. Calling `approve` on the vToken instead grants permission to transfer the receipt token; it does not approve movement of the underlying asset. Several ERC-20 methods return `0` on success and a nonzero protocol error code on failure. A successful EVM transaction alone is therefore not sufficient; clients must decode the return value and relevant events. Native BNB entry points generally revert when their internal operation fails. ## Shared accounting and reads The abstract `VToken` base supplies receipt-token accounting, interest accrual, reserves, borrows, exchange-rate calculations, seizure, and administrative hooks. Important integration boundaries include: * `balanceOfUnderlying`, `borrowBalanceCurrent`, `totalBorrowsCurrent`, and `exchangeRateCurrent` accrue interest and are not `view` calls. * Snapshot-style alternatives such as `borrowBalanceStored` and `exchangeRateStored` do not accrue the market first. * The exchange rate and interest calculations depend on the market's exact implementation and rate-time basis. See [Protocol Math](/guides/protocol-math.md). * Borrowing and redeeming are subject to Comptroller policy, market listing, liquidity, caps, and pause state. * Delegated `mintBehalf`, `borrowBehalf`, and redeem-on-behalf methods require the account to authorize the caller through the BNB Core Comptroller. ## Implementation and administration ERC-20 market calls go to the delegator address. The delegator stores balances and configuration and delegates execution to its current implementation. Read `implementation()` and generate the ABI from that implementation at the relevant block. VBNB is not a VBep20 delegator. Some privileged operations are performed through the separate VBNBAdmin wrapper; do not infer the ERC-20 proxy upgrade or approval model for vBNB. Governance can upgrade delegates, change interest-rate models and Comptroller configuration, or pause actions. Verify the live proxy, Comptroller, Access Control Manager, and pause state before constructing an operator transaction. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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