Venus Protocol is a lending platform based on BNB Smart Chain that allows borrowers to use XVS and other cryptocurrencies as collateral for borrowing. Unlike other lending markets, Venus supports the use of other crypto assets as collateral and can create an over-collateralized stablecoin based on multiple cryptocurrencies to protect the stability of the protocol.
Recently, the Venus protocol has made the following proposal updates: 😘
Stability fee returns to $1 with#repeg#VAI
$VAI price feed oracle deployment and setting floating rate
Updates to governance roles: Introducing new VIP roles and longer governance cycles for contract upgrades, and the ability to independently pause any market rather than the entire protocol.
Token Economics 3.0 has been launched: XVS emission reduction proposal has been passed
It is proposed to reduce XVS emissions in the supply and lending markets by 50% of current emissions to reduce circulating supply and sales pressure.
🪙Enable stability fee to#repeg#VAI back to $1;
$VAI price feed oracle deployment and setting floating interest rates will help with this. Currently the Vai proposal has been passed
❤️Token Economics 3.0 has been launched:
Description As indicated by the data collected from 30 days after the abatement, there is no indication that the total TVL of the protocol was affected after the XVS abatement.
The results are as follows:
🌕At the end of 30 days, supply TVL increased by 0.6%.
🌕At the end of 30 days, the loan amount was reduced by 3.2%.
This behavior suggests that emission reductions have no significant impact on TVL. Therefore, it is recommended to continue reducing emissions by another 50% to reduce circulating supply and selling pressure on XVS. We propose the following: Reduce XVS emissions from the supply and lending markets by 50% of current emissions. Reduce XVS emissions from the VAI vault by 50% to help restore PEG to $1.00.
🐠Updates on governance roles:
To avoid malicious parties, we are introducing a new VIP role and a longer governance cycle for contract upgrades. Also, from now on, we will be able to pause any market independently, rather than pausing the entire protocol.#Governance#RiskManagement
🌕 Summary:
Venus is currently the largest lending protocol on BSC, and its daily active users are also growing. More BSC users can experience it through the Binance mini program. Venus lending can help you survive the bull and bear markets, and you can use stablecoins for financial management or arbitrage.
🌕Come and join us: Chinese official community group: https://t.me/venuschina