Venus Protocol Brings Out New-Look Tokenomics 4.0 Proposal

The proposal includes a non-transferable soulbound token that many consider the future of decentralized governance.

Core Token Maintained, Soulbound Token Introduced

As the concentration of traders is increasingly concentrated on BNB Chain, Decentralized Finance (DeFi) projects operating on this chain will also see massive cash inflows in the future, especially liquidity provisioning systems.

One project preparing to catch the new wave of growth is Venus Protocol, one of the largest algorithmic money markets and synthetic stablecoin protocols on BNB Chain.

Venus Protocol has just released a Tokenomics 4.0 proposal to its community through Twitter Space, containing many significant improvements that directly impact the sustainability of the platform’s economic model.

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The major updates in Tokenomics 4.0 revolve around key goals such as keeping $XVS as the core token of the project, reducing $XVS emissions and timing, stipulating a minimum amount of $XVS in the Venus Vault to access external parties’ liquidation, and upgrading new mechanics for $XVS Vault. For more details, visit here

In addition, the notable point in this update is that Venus Protocol will issue a non-transferable soulbound token (SBT) called Venus Prime. This breakthrough step could bring many development opportunities to the project because SBTs are considered the future of decentralized governance, a solution highly expected and trusted by Ethereum founder Vitalik Buterin. 

Venus CEO Brad H. told BSC News: “Venus Tokenomics 4.0 unlocks a DeFi first of its kind incentive model to reward OGs and power users and boost protocol retention across our top markets. It will serve as an example for others about what DeFi can do and how we’re evolving.”

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 the DeFi world following their hint of a massive incoming burn by founder Joselito, and its Venus Reward Token ($VRT) rewards for XVS token holders.

To learn more about Venus Protocol, see the following resources: 

Website | Twitter | Telegram | Medium |

What is BNB Chain:

Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain-powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Furthermore, through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.

Find more about BNB Chain here:

Website |  Twitter | Discord | Telegram | GitHub |

Source : bsc.news

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