Venus Protocol plans to significantly increase the number of tokens and users on the lending protocol with its major V3 upgrade.
Greater Security, User Adoption
Venus Protocol is set to roll out new upgrades that are expected to dramatically increase the number of tokens and users on the BNB Chain lending protocol.
Here’s what to expect from the V3 upgrade:
Risk Management: The project’s partnership with Gauntlet Network is intended to better manage and communicate the risks users are exposed to on the platform.
New Liquidity/Risk Pools: The launch of Isolated Lending should introduce a large pool of new tokens to the platform, decreasing risks to the entire lending pool in case a single token or pool of tokens fails.
Patrick Rooney, Venus’ Product Marketing Manager, told BSC News:
“Isolated Markets opens Venus up to support most all liquid tokens that are available on BNB Chain. We’ll have a much, much larger pool of crypto users on our platform. Currently, we only support some of the biggest large cap crypto tokens and before long we’ll have dozens of more tokens on Venus.”
Tokenomics 3.0: The launch of Tokenomics 3.0 is centered around four key principles: rewarding and incentivizing protocol retention, reinvestment of value, creation of flywheels, and embedding greater shortfall defense.
Rooney said the introduction of new tokens via Isolated markets should also help support the value of $XVS:
“In addition, these new tokens will expand the focus of token usage on Venus. We’ll have tokens from DeFi focused projects like TrustWallet (TWT), GameFi tokens from projects like Radio Caca (RACA), Liquid Staking tokens like Ankr (ANKR), and Tron tokens like BTT. All of these new users will certainly raise interest in our governance token, XVS.”
What Is Venus Protocol:
Venus Protocol is a decentralized marketplace for lenders and borrowers with borderless stablecoin. Venus is one of the largest algorithmic money market and synthetic stablecoin protocols on BNB Chain. The Binance-backed protocol became famous around DeFi following their hint of a massive incoming burn by founder Joselito and its Venus Reward Token VRT rewards for XVS token holders.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.