Venus Finds its Way Back to the Top

The decentralized lending protocol Venus has regained its place at the top of the weekly BNB Chain transaction volume ranking. On March 15, it was reported by Dapp.com that $1.48 billion in total trade volume was accumulated by Venus within seven days. The second-placed protocol, at the time, came in at around $130 million.

On the list of BNB Chain leaders, PancakeSwap and Alpaca Finance come in 2nd and 3rd, which is a significant achievement. It would appear that despite the difficulties faced in 2021 due to an exploit, Venus Protocol has regained the trust and support of its investors.

The 7 day transaction volume top BNB Chain DApps came in the following order:

$XVS @VenusProtocol

$CAKE @PancakeSwap

$ALPACA @AlpacaFinance

$BSW @Biswap_Dex

@solo_top

$MDX @Mdextech

$ACSI @acryptosdao

$BANANA @ape_swap

$EPS @Ellipsisfi

$1INCH @1inch

The exploit that occurred in May of 2021 plummeted the Venus XVS Token from $146.82 (all-time high) to $32.59. Unfortunately, as the prices decreased, so did the users’ confidence in the Venus community. The XVS Token is currently at a lower cost of $8.3, indicating a 94% drop from the all-time high.

However, during a Livestream with BSC News, Venus revealed that they are attempting to revitalize the XVS token by onboarding a new team. Additionally, Venus held a logo and brand design competition to freshen things up and launched a community survey to be implemented in 2022.

More About Venus Protocol

Venus Protocol is a decentralized landing system constructed on the Binance Smart Chain, serving as a marketplace for lenders and borrowers with borderless stablecoin. Of all the protocols on the BNB Chain, Venus is one of the largest.

Source : bsctimes.com

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