> For the complete documentation index, see [llms.txt](https://docs.vena.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.vena.finance/welcome/why-vena.md). # Why Vena Vena's lending and borrowing mechanics are those of AAVE V3, a pool-based money market where suppliers earn interest, borrowers post collateral, and liquidators close undercollateralised positions. Vena's difference is one input on top of the standard pricing: reputation. ## What reputation changes Fluent tracks reputation via Prints, a portable signal derived from on- and off-chain activity across multiple chains, not just Fluent. Other protocols on Fluent can also read Prints. Vena reads that signal at the point a borrower opens a position, and adjusts the rate: * **Strong reputation → better terms.** A borrower with strong Prints pays a lower borrow rate than the pool's baseline for the same asset and utilisation. * **No reputation → standard terms.** A borrower without tracked reputation pays the baseline rate. Nothing is taken away from them; the adjustment is one-sided. See [Parameter reference](/asset-parameters/parameter-reference.md) for the Prints-to-rate-adjustment tiers per asset. ## What reputation doesn't change Everything else works the way a pool-based money market works: * Collateral factors, liquidation thresholds, and liquidation penalties are set per asset by the curator. See [Parameter reference](/asset-parameters/parameter-reference.md). * Rate curves respond to pool utilisation. Rates rise as utilisation approaches the kink. * Positions are liquidated when the health factor drops below 1. * Reputation affects **rate only**. It does not change LTV, liquidation threshold, or supply/borrow caps. ## Prints vs. Vena Points Prints are Fluent's network-wide reputation primitive. Vena reads Prints at the point of borrow to adjust the rate. Vena Points are Vena's own internal points system, earned by using Vena and converted into $VENA tokens at $VENA TGE. See [Earning Vena Points](/points-and-incentives/earning-vena-points.md). Strong Prints change the rate a borrower sees. Vena Points do not; they accrue regardless of reputation. --- # 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 by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.vena.finance/welcome/why-vena.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.