Newsletter – July 2023

Welcome to the July edition of the Venus Community newsletter! The Venus team is very excited to bring you the latest updates and developments from the Venus ecosystem. This month, we are excited to announce the biggest protocol update in almost 3 years. In this edition of the newsletter, we will be highlighting some of the exciting features that our new user interface brings, as well as new partnerships with major projects in our isolated markets. We will also be sharing news and important events in the community, such as the anniversary of Venus Stars Ambassador Program. Keep reading and find out about this and much more!

Featured News

Introducing Isolated Pools

Last July, Venus achieved one of the largest updates in almost 3 years of protocol development, and it was the release of the Isolated Pools, a fundamental part of the V4 proposal. What we have been eagerly waiting for has been officially released: isolated markets in @VenusProtocol are now live and can be used by everyone!

Introducing the Isolated Pools, it initially adds over 20 new markets with $150k in liquidity mining rewards in the first phase. With the arrival of the Isolated Markets, the community has welcomed through the AMA and Community Meetup the new partners: Biswap, Raca, Helio, Floki, Stader Labs, Alpaca, Beefy Finance, ANKR, PStake Finance, Tron and the that are to come.

In addition, this great success is joined by news such as the new landing page, the improvements in the user interface and the updated project documentation. Link of the new whitepaper:here.

Conclusions in our quarterly report Q2- 2023

The Venus community experienced activity growth in Q2, executing a total of 27 proposals, a significant increase from 18 in Q1, and hosting over 100 AMAs in a variety of languages. Despite  challenges, the protocol saw its fourth consecutive quarter of growth in revenue, reaching $11.5 million. This growth can be attributed to interest rate adjustments and borrowing activities that were relatively insensitive to rate changes. By the end of Q2, liquidity valued at $647 million remained available for borrowing, with BTC and BNB making up the lion’s share. We recommend you see here the complete report made by the Messari company.

More news from Venus Protocol!


Increase WBETH Supply and Borrow Caps

Chaos Labs recommends a Venus Protocol that, Increase supply limit from 4,000 WBETH to 8,000 WBETH and increase lend limit from 550 WBETH to 1,100 WBETH. If you want to read the official proposal you can do it here.

Payments for performed audits and openzeppelin security partnership

As Venus’s trusted security partner, OpenZeppelin will perform continuous security audits of Venus codebases and provide actionable feedback to help the development team improve smart contract security. They offer a total of 24 weeks of security research time to be used over the next 6 months for audits as directed by the Venus dev team, which includes fix reviews and a high-level analysis of current protocol security. Find out more here.

Timely and permanent Education

July was a great month for Venus Protocol. Various educational articles have been created on our blog in order than the community is up to date and aware of each available functionality and its benefits.

Isolated Pools, Navigation in DApp (Step by Step guide)

As we mentioned before, we are concerned not only with making the pertinent updates at the development level of our protocol, but also through the venus community we approach our users, educating them and guiding them step by step in each of these new funtionalities. That is why we have created a guide for our users in 14 different languages, on how the new platform works. So you no longer have an excuse to start using it: Link

Liquidations in Venus Protocol’s Isolated Markets: A comprehensive Guide

Venus Protocol provides an avenue for users to perform liquidations in the DeFi marketplace. This functionality is not only crucial to the protocol’s health but also provides opportunities for liquidators to earn profits. In this article, we will outline the step-by-step process of performing liquidations in the Isolated Markets of Venus Protocol. Please note that this guide is primarily aimed at developers or bots looking to automate the liquidation process. See the full article here.

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Venus Community

1st Anniversary Venus Stars Program

We’re thrilled to celebrate the first anniversary of our #VenusStars Ambassadors Program. We mark one year of uniting wonderful people around a project aimed at amplifying #DeFi adoption worldwide. Our communities are not only more educated and informed, but also feel safer within the ecosystem. None of this would have been possible without our Venus Stars team members, who pour their hearts and souls into this grand vision every day.

We’ve dedicated 365 days to making user journeys in this ecosystem easier through enhanced information, education, guidance, and personalized attention in 14 languages, achieving impressive results. All thanks to the #VenusStars team. Our communities have grown by over 40% this year and more and more people around the world are getting to know the advancements and benefits brought by Decentralized Finance and @venusprotocol.

Venus Stars Activities around the Globe

As usual, our communities around the world enjoyed a variety of online events, including workshops, information sessions, classes in our #LearnWithVenus section, and much more. But not everything was in the digital field, our Polish ambassador represented Venus in a face-to-face meeting organized by BitcoinTej in which the participants were explained what the objective of the Venus Protocol is, its operation and scope. At the end of the meeting, relationships were strengthened, knowledge was shared, and collaboration among attendees was promoted.

Venus in Poland

Venus Governance

Venus community has been very active and engaged in discussing various topics related to the protocol’s present and future including discussions on proposals to adjust the tokenomics to optimize the revenue distribution, among others important topics. Community members appear to be very proactive in driving the protocol’s development forward and have been actively voting and executing VIPs. For more information on the Venus Improvement Proposals of this month, you can visit the Governance page

VIP-136 Isolated Pools: Deployment Stage 2 (Defi, Gamefi, Liquid Staked BNB and Tron)

The VIP-136 isolated pools: implementation stage 2 (Defi, Gamefi, Liquid Stake BNB and Tron) It was one of the most important this month, find out the details here.

VIP-137 XVS Quarterly Buyback and funds Allocation

As per our Tokenomics v.3.1, this VIP will proceed to withdraw funds for our Quarterly Buyback and distributions.

VIP-138 Payments for performed audits and openzeppelin security partnership

This VIP proposes OpenZeppelin will perform continuous security audits of Venus codebases and provide actionable feedback to help the development team improve smart contract security.

VIP-139 Remove BIFI Market

Beefy is now recommending that all users exit any existing liquidity pool positions involving the $BIFI token. This directly affects the liquidation capabilities of Venus Markets, know the reasons in detail in the VIP-139.

VIP-140: Isolated Lending Pools: Configure Liquidity Mining

This VIP 140 is another step forward to the official launch of our brand new isolated lending pools! We have been working tirelessly to bring innovative features that will further enhance our users’ experience.

VIP-141 Risk Parameters

If passed, this VIP-141 will perform the following Risk Parameters actions as per Gauntlet’s latest recommendations.

VIP-142: Isolated Lending Pools: Configure Risk Parameters

This VIP-142 will perform the following Risk Parameter actions as per Chaos Labs recommendations for Venus Isolated Pools.

VIP-143: Increase WBETH Supply and Borrow Caps

The VIP-143 proposes increase Supply Cap from 4000 WBETH to 8000 WBETH and Increase Borrow Cap from 550 WBETH to 1100 WBETH. 

VIP-144: Adjust XVS Vault rewards distribution speed

The VIP-144 is very important, and will perform the following actions:

  • Adjust XVS Vault rewards distribution speed to 1780 XVS per day.
  • Refund 9,216 USDT to the Community Wallet that were swapped and used to supply the missing TUSDOLD Reserves to allow for execution of the Buyback VIP.

VIP-145: Upgrade of the Resilient Price Feeds

The VIP-145 will perform the following actions:

  • Upgrade the contract’s implementations of the Resilient Price Feeds
  • Configure the price feed for the SD token

VIP-146: New ANKRBNB Market in the Defi Pool

Related to VIP-134 and VIP-136, this VIP-146 will add a market for ankrBNB to the already existing DeFi pool.

VIP-147: Risk Parameters adjustment for floki

As per the latest Chaos Labs recommendations, this VIP-147 increased the supply cap for FLOKI from 22B to 44B.

VIP-148 Isolated Lending Pools: Configure Liquidity Mining

This VIP-148 suggests If passed, this VIP will perform the following actions:

  • Set the last block with rewards for the currently enabled distributions in the markets of the Isolated pools
  • Set 100% of the rewards in the BNBx market to suppliers

VIP-149 Payment issuance for performed audits

Details the actions carried out in the VIP-149 here.

VIP-150 Risk parameters adjustments

This VIP will perform the following Risk Parameters actions as per Chaos Labs latest recommendations in the following Venus community forum publications. Read the details here.


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