On November 8th, Venus (XVS) was officially listed on HotsCoin. Venus Protocol is a decentralized lending platform based on the BNB chain. The core of Venus is a money market protocol that allows lenders to provide loans to generate income from their tokens, while borrowers can use $XVS and various other currencies as collateral to obtain loans. XVS is now available for trading on HotsCoin.
Key Events:
- November 25, 2020: Venus mainnet launch
Overview:
Venus Protocol was launched in 2020 and is a decentralized financial platform on the BNB chain.
Venus combines the solutions of Maker and Compound, simplifying the user experience and providing core functionality for decentralized finance to thrive within a single application.
Through improvements in the V4 version, Venus has further pushed the boundaries of possibilities in the decentralized finance sector. Enhancements include risk management, decentralization, and user experience.
The Venus reward distributor allows rewards for lenders and borrowers to be configured and managed based on users' activities in related markets, providing additional incentives and revenue opportunities.
The automatic income allocation system distributes income to different pools in near real-time, enhancing efficiency, transparency, and flexibility in allocation.
Token economics have been reassessed and optimized for income distribution to meet the current and future needs of the protocol, ensuring robust financial management.
The governance model of Venus Protocol relies on participants locking XVS tokens in a collateral vault to gain governance power, ensuring transparency and security for the decentralized financial platform.
Governance:
HotsCoin notes that Venus Protocol's governance depends on participants locking XVS tokens in a collateral vault to drive protocol improvements.
Venus V4 introduces an upgraded governance structure, including a fast track VIP, role-based access control, and fine-tuned pause mechanisms.
The fast track and critical VIPs (Venus Improvement Proposals) are used to handle different proposal categories to address regular updates and risk parameter adjustments, among other cases.
Role-based access control allows specific operations to bypass voting to address fast track or critical changes or be executed directly by administrators through multi-signature.
The fine-tuned pause mechanism allows for the suspension of any operation in any market to respond to market fluctuations.
Summary:
Venus Protocol is a decentralized lending platform on the BNB chain. Through its diverse features, governance model, and income distribution mechanisms, it offers users additional incentives and revenue opportunities, driving the development of decentralized finance. The improvements in the V4 version further enhance risk management, user experience, and governance efficiency, making it a highly anticipated project in the cryptocurrency space.
HotsCoin will continue to monitor the project's ecosystem. (Report written in November 2023) The information in this report is for reference only and does not constitute investment advice. Before investing, it is essential to thoroughly understand the project and its risks and seek professional advice when necessary.
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