Venus Protocol Enhances User Experience With New UI Update

Venus team: “The next big update will be Venus isolated lending pools.”

New Interface, Next Up Are Lending Pools

Venus Protocol has officially changed, upgraded, and fully integrated all Decentralized Finance (DeFi) functions on its trading platform, aiming to make it easier for users to access the Web3 space, and to efficiently receive more knowledge of the blockchain industry during their use of the product.

In this interface update, Venus listened to the community and adopted the best solutions from leading DeFi platforms, mainly focusing on interoperability and bringing the greatest utility for all project features available to users, including: 

New Vault page

New Vote page

New Voter Details page  

New Voter Leaderboard page  

New Create Vote Proposal modal.

“The latest Venus Protocol UI Update is the latest in a series of upgrades aimed at making the Venus Protocol platform more user-friendly and intuitive. Now that the Venus UI has been fully upgraded, the next big update will be Venus isolated lending pools,” Venus Community Lead Danny told BSC News.

The most noteworthy part of Venus’s UI Update is that it allows users to transparently monitor development proposals from the project team right on the trading platform. They can also be honored if they regularly contribute ideas to make Venus better, and if they want can freely create a proposal to be voted on. Overall, this feature will make Venus a more decentralized and community-oriented project.

Previously, when users staked $XVS on Venus, they would not be able to use those XVS tokens to vote on proposals. As a result, $XVS stakers may have felt deprived of this benefit despite owning the native token. 

Now, Venus has addressed that situation by allowing users to use vXVS tokens (received when users stake $XVS). Accordingly, $vXVS will be entrusted with voting rights on proposals on behalf of $XVS. Thus, the rights of users will be fairly guaranteed.

The move is in line with the project’s mission to provide users with a decentralized and safe market from which to borrow funds and earn stable profits. The protocol runs on Binance Chain, which eliminates many difficulties other blockchain protocols face when trying to expand.

Steady Steps, Larger Ambitions

The UI update for the project is part of Venus Protocol’s ambitious transformation to become an algorithm market, stablecoin aggregation protocol, and leading lending platform in the BNB Chain ecosystem in general and in DeFi in particular.

In preparation for this goal, Venus Protocol has achieved a series of impressive development milestones just in the past few months, including: partnering with Binance to launch the Venus Mini-Programmaking Chainlink its sole oracle provider for markets, bringing out a new-look tokenomics 4.0 proposal, and approving the VIP-66 proposal to implement the Funding Venus Ambassador Program.

What is Venus Protocol:

Venus Protocol is a decentralized marketplace for lenders and borrowers with a 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 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 

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