Newsletter – November 2023

Hello, Venus Community! In this newsletter, we’ll highlight the rapidly growing facets of our protocol, along with recent partnerships with notable projects. Additionally, we’ll share updates on community news and important events. Keep reading to discover all this and more!

Featured News

The wait is finally over! After undergoing meticulous assessments, the eagerly awaited launch of Venus Prime is now a reality. These thorough evaluations stand as a crucial foundation, guaranteeing the utmost safety and security for our vibrant community. With Venus Prime’s launch, we’re unlocking a new chapter in decentralized finance. This eagerly anticipated event signifies not just a product release but a significant step towards reshaping the future of financial engagement.

Venus Prime is officially LIVE on Venus protocol! 

Venus Prime is a revolutionary incentive program intricately tied to Venus Tokenomics v3.1, designed to significantly boost user engagement within the Venus Protocol. It focuses on incentivizing larger stakes while encouraging diverse participation, fostering an inclusive and active community. Positioned as a key driver of decentralized finance on Venus, the program invites users to explore a world of limitless possibilities within the decentralized financial landscape.

Deploy Venus Protocol on Ethereum Mainnet

Influenced by Ethereum’s high liquidity and capital deployment, this proposal suggests listing Curve tokens, crvUSD, and CRV as collaterals, and introducing CRV/XVS rewards to benefit the Venus community, Curve ecosystem, and Ethereum as a whole. The rationale includes addressing the need for more lending protocols on the Ethereum Mainnet, creating visibility for Venus, and enhancing adoption for crvUSD through collaboration with Curve.

Happy 3rd Anniversary

Happy 3rd anniversary to all the wonderful users of the Venus Protocol! Your unwavering dedication to decentralized finance has been truly inspiring, shaping a remarkable journey over these three years. Here’s to celebrating your commitment and the collective success that has defined our community. Cheers to many more years of shared achievements and innovation! 

Anniversary Campaign

Celebrating our 3rd Anniversary, we introduce #VenusV4, a revolutionary upgrade in DeFi featuring superior risk management, an enhanced user experience, Isolated Markets, and the debut of Venus Prime. In partnership with Polyhedra, our 3rd Anniversary Campaign was launched, unveiling advanced zkBridge technology. 

Excitement builds as we announce the upcoming release of our Crypto to Fiat Gateway payment card and the new Venus Hardware Crypto Wallet, powered by Arculus, ensuring secure and user-friendly digital asset management. Join our campaign by Dec 30th for a chance to win one of 500 exclusive Venus x Polyhedra Wallets or Venus Prime Tokens! 

More news from Venus Protocol!

Security is a top priority at Venus, demonstrated through comprehensive audits, community engagement, and a security-first approach to new releases. Ongoing optimization reviews ensure adaptability to evolving standards. Reports and audits contribute to continuous improvement, fostering a secure and resilient environment for the Venus community and instilling confidence in the platform.

$UNI now Supported on Venus

Exciting news as $UNI Token joins Venus Protocol, ushering in new opportunities for users. With this integration, $UNI holders can now explore Venus Protocol’s features, including earning interest and borrowing against their assets. The announcement encourages users, whether DeFi enthusiasts, traders, or yield farmers, to embark on an intergalactic journey with $UNI Token on Venus Protocol, unlocking the full potential of decentralized finance.

Binance Web3 Wall

Exciting news! Venus is now fully integrated into the new #Binance Web3 Wallet, providing added convenience for all Binance users. As one of the first dApps integrated into this wallet, Venus Protocol can be easily found in the Discover section, enabling users to manage assets, including $XVS and $VAI vaults. Prioritizing simplicity and security, Binance’s Web3 Wallet, combined with Venus’ robust security measures, ensures the protection of your assets and transactions. Don’t miss this opportunity to take control of your financial future with Venus!

New #listing

Exciting news! XVS (Venus Protocol) will be listed on LBank starting from 10:00 on November 7, 2023 (UTC). The trading pair is XVS/USDT in the USD Zone. Deposits are open, trading begins at 10:00 on November 7, and withdrawals are available. Explore the #1 Decentralized Money Market on the BNB Chain with Venus Protocol Earn, Borrow, and Lend.

New #partnership

Exciting news! Venus has partnered with @PolyhedraZK, integrating zkBridge as our cross-chain Oracle on LayerZero. This collaboration aims to enhance interoperability, enabling secure and efficient transfer of $XVS and $VAI between BNB Chain and other blockchains. Benefits include seamless integration with diverse networks, advanced security through zero-knowledge proof technology, and increased transaction efficiency with reduced fees. Stay tuned for updates as we embark on this transformative journey with zkBridge! 

Venus ($XVS) will soon be listed on ProBit Global! 

ProBit Global, a premier cryptocurrency exchange facilitating access to Bitcoin, Ethereum, and over 800 altcoins in Korea and globally, will soon introduce seamless trading for the new $XVS – $USDT pair. This addition expands the trading options for users, providing ease of access to the Venus Protocol’s native token, $XVS, on a global scale.

Chaos Labs – Risk Parameter Updates 

Proposed adjustments at Venus include increasing the multiplier parameter to achieve a 5.5% borrow rate for specific stablecoins, raising supply and borrow caps in the PLANET DeFi Pool, and reducing TUSDOLD’s borrow rates to 0. These changes aim to align Venus’s stablecoin interest rates with the broader market, responding to the upward trend in DeFi borrowing costs, currently approaching 5%. The adjustments address volatility in borrow APYs within the Venus core pool linked to utilization levels nearing the kink point.

Venus Community

Venus Stars Activities around the Globe

Throughout this month, the global Venus Community has been exceptionally vibrant, marking a year of remarkable growth with an impressive tally of more than six in-person events. This widespread and diverse engagement underscores the strong and expanding presence of Venus Protocol on a global scale.

Venus in Costa Rica Blockchain Week 

We inaugurated our Venus Community section with the incredible participation of Brad Harrison in Costa Rica Blockchain Week, highlighting the opportunities presented by the Venus Protocol for Latin America. Attendees of Blockchain Jungle and Eth Day witnessed firsthand the advances developed in recent months to optimize decentralized finance in the present and future. In a week filled with events, business meetings, and gatherings, we are delighted to contribute directly to the blockchain ecosystem in every corner of the world.

Likewise, we are very happy to have had the opportunity to explain in detail the proposal for deployment in Ethereum during the first event held by the foundation of the network in Costa Rica.

Venus in Lisbon

Our Venus Star, Gregor, participated in the major crypto event in Lisbon, Human Newconomics 2023.

Venus in Taipei 

Asia is also at the forefront of major events in blockchain technology. Our stars in the region attended the International Financial Taipei 2023, where they shared important information about the Venus Protocol with attendees.

Venus in Turkey

In Türkiye, we were sponsors of one of the most significant events in the region in 2023, the “Unstablet Summit,” which showcased the latest trends in the ecosystem. Our Venus Stars actively participated with the community, demonstrating the benefits and new developments of the Venus Protocol in the DeFi space.

Venus Governance

The Venus community has demonstrated exceptional engagement with a total of 19 proposals comprising 16 VIP proposals, 2 forum proposals, and 1 snapshot votes. These discussions encompass a wide array of crucial topics, such as optimizing revenue distribution through adjustments to tokenomics and other significant protocol-related matters. Community members have showcased remarkable proactivity by actively participating in voting and implementing VIPs, underscoring their dedication to advancing the protocol’s development.


This VIP will entail transferring funds, including 19,000 USDT to Certik for the retainer program, 10,000 VAI to UQUID for VAI integration, 15,000 VAI to for a virtual e-sports gaming hub grant, 95,000 USDC to the Community Wallet for Messari payment, and 25,000 USDT for the Venus Prime campaign refund.


VIP-197 will implement risk parameter adjustments in the Venus community protocol, including raising the supply cap to 14M for CAKE (Core pool) and increasing the Collateral Factor to 0.8 for WBETH (Core pool), in accordance with Chaos Labs’ latest recommendations outlined in the Risk Parameter Updates publication dated 10/31/2023.


This VIP will will introduce a new market for PLANET in the Isolated Lending DeFi pool, implementing risk parameters based on Chaos Labs’ recommendations.


This VIP will begin the process of repaying an estimated $6,486,776 of the $13,521,179 BUSD market shortfall using 26,438.87 BNB from the treasury, representing approximately 98% of the 2023 risk fund allocation, with future proposals addressing the completion of the repayment and underlying token conversions for proper treasury management.


This VIP will establish the last block with rewards for the PLANET market in the DeFi pool, specifically setting it at block number 34150223, approximately 28 days (806,400 blocks) after activation in vPLANET_DeFi.

VIP-201,202,203,206,207, 210

Cuentico que resuma los pasos que se dieron en cada uno y colocar los 6 enlaces VIP-201 pertains to the Quarterly Venus Protocol XVS Buyback & Funds allocation in alignment with the Tokenomics.

VIP-201, VIP-202, VIP-203, VIP-206, VIP-207, VIP-210 collectively aim to enhance the Venus ecosystem by enabling Prime tokens, establishing batches of timestamps for qualified users to claim Prime tokens based on XVS staking, configuring the PrimeLiquidityProvider contract for reward accrual, and resuming the Prime contract while upgrading it for improved traceability, as detailed in the Venus Tokenomics Upgrade v3.0 Proposal.


This VIP aims to repay a specific BUSD debt amounting to 6,400,762.2181 on behalf of the wallet address 0x8d655AAAA0ec224b17972df385e25325b9103332.

VIP-205 & VIP 208

VIP-205 and VIP-208, in accordance with Chaos Labs’ recommendations in the Venus community forum publication “Risk Parameter Updates 11/21/2023,” will adjust the risk parameters for the UNI (Core pool), increasing the supply cap from 50,000 UNI to 100,000 UNI and the borrow cap from 30,000 UNI to 50,000 UNI.


This VIP will upgrade the implementation of the Comptroller contract for the Core pool, incorporating the “forced liquidations for individual accounts” feature, extending the functionality introduced in VIP-172.


This VIP will configure RedStone as the PIVOT oracle for TRX and TRX_OLD tokens and upgrade the address of the BoundValidator contract used by the ResilientOracle contract.

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