Hello, hello. Welcome everybody to this wonderful AMA between stator laps and Venus Protocol, two of the hottest projects in BNB
chain and arguably in the whole D.F.I. space. Today I am Antonio, I am the head of community at St.Elabs and today I have the pleasure of speaking with Deborah from Venus. Deborah, how are you?
I'm doing very well. Thanks for having me.
Cool, so I see that we have a big audience already because it's three minutes past the hour, so I propose that we start, we're gonna start with some questions I have on my site about
and then we can go to the part of community questions. What I would like you guys to do for the community questions is that you can start writing in the comments the questions that you may have for Venus or about BNVX listing in VNVX.
or maybe there is a question of a set of labs that we're taking, I'll be also happy to answer it. But you can start asking your questions in the comments. Then when I'm done with the two three questions I want to ask Deborah, we will go through them. All right. So just give me a minute and then we're going to start this.
All right, Devora, could you start by introducing yourself and then give some basic background information on what Venus protocol is?
Thank you very much. Thank you very much.
community ambassador. I will be talking to you about Venus Protocol and development. Let me explain what Venus Protocol is. Venus Protocol serves as an
our Greek Money Market system that is designed to establish a credit-based system on the Binance Marching. Users can supply the assets to the protocol and
and if you are true interest feed by borrowers. So that's basically what we are going to do is the fast, low cost and decentralized and land and system but on the
Thank you. Well, that's fantastic. Cool, and I fondly remember Venus as the first protocol ever I used for borrowing and lending. So yeah, those were the times.
right? Can you, they were explained as a little bit how Venus provides incentives in the form of XVS? Can you tell us a bit more about what is that native token of Venus for, how can users earn it and use it?
Okay, yeah, absolutely. In addition to accordingly adjusting, compound rates, our governance token as a virus can also be earned as a reward.
when lending or borrowing on Venus. Most users stick their earned SVS rewards in the SVS vault which gives them a chance to earn an extra API which is actually around 6% with no risk
of incremental loss. In addition to earning an interest in IPR, taking on the advanced vote actually allows users to participate in the governance system and take part in the future of the protocol by voting
the VINOS improvement proposals which are the VIPs. And let's note that the APR in the XVR is actually very, it is adjusted at each trimest as based on protocol reviews. Revenue is rather
A portion of the revenue is going to a buy-back that is distributed to the XVS vote throughout each trimester. Thank you. Interesting. That's amazing to see protocols
that give free audio use case, you know, and like real deal to the project that redistribute the revenues that the protocol receive. So that creates a sustainable use case. Now you guys
In Venus, you are all the time shipping. You are borrowing and lending protocols and since they want people were able to do that, borrowing and lending different assets. But you are constantly updating, constantly shipping updates, constantly adding new features to the protocol. Recently, I believe a couple of months ago, you announced
the launch of Venus V4, right? So can you tell us a bit more about this latest upgrade of Venus? Yeah, sure. This is undergoing a very large and actually very exciting upgrade called Venus V4.
This comprehensive upgrade consists of a set of new features that will help to drive more liquidity and revenue to the protocol. It will also give a good rich management strategy combined with industry leading
user experience, multi-chain expansion and a new tokenonies design that is aimed to reward our loyal users and to further strengthen the utility of our native token which is the XVS. Community is actually
I'm just seeing all the new features live on the main. We are all excited too but we are taking a step by step placing security as our absolute top priority. This major upgrade actually consists of several key
elements that I will try to summarize now. So we have stable rates for improved boring and lending. This particular V4 proposal introduces stable rates boring to address the need for stability in
the lending market, provide users with greater confidence in their boring decisions. Stable rates reduces the vulnerability to interest rate volatility. It enables barrage to plan their
investments more effectively and understand your repayment obligations clearly. We are removing Anadha barrier entry for institutional funds to enter the firm. In the second place we can also mention
integration with PancakeSwap for token swapping. If you check the Venus, you would see that session there. Venus protocol actually integrated with PancakeSwap the most years and decentralized exchange on the BNB chain allowing users to
This particular integration stream is the user experience by seamlessly integrating a DEX within a landing protocol which represents a significant advancement in the DEFI specific
users can now conveniently trade their existing tokens and supply them to vendors, making the overall process even more efficient than it was before. Integrating PancakeSwap with a backend
And it's actually a wonderful lift for the user experience. As users now enjoy more smooth process, when they desire to supply borrower or repair tokens on Venus with the Pancake Swap Dex integration, then that's the part when we
We've eliminated, what's the word? We've eliminated clicks or steps required to make this transaction. And this will reduce the workload for the user and save their money in gas fee.
Previously, being said that the user experience has been holding back some investors from diving deep into the fire actually and this particular enhancement should go far in bringing them into the mix. Another one to bring
consider is the dynamic rich management, rich gauntlet. That's another great rich management is actually fundamental aspect of the English protocol and the V4 upgrade tries to enhance its capabilities and safeguards. That is why we
on what I got in conflict for weeks management services. Conflict recommendations help us to maximize revenue, buy mitigating risks and will be key to making isolated markets a success.
actually de-key to making the asset market successful. So by exploring, actually the market, things protocol expands is potential to onboard a wider array of assets, assets, sustainability rather, diversifying the asset base and
introducing effective weeks and mitigation strategies. Another thing we are working on is the adjustable stability fee for VAI. Indeed, VAI is 24/8.
a modified form of the stability fee for VI will be introduced. So users will be required to pay interest when maintaining new VI and the interest rates will adjust dynamically
based on the market supply. This dynamic approach actually ensures that the stability of the AI is maintained even in from treating market conditions. Even in fluctuating market conditions by adjusting
This stability fee, the protocol aims to stabilize the value of VAI and create a new source of income for users through the business treasury. Another thing that we are working on is another great thing.
So let me explain that. The V4 proposal introduces new circles and rules to enhance governance mechanisms and expedites interest rates, risk parameter changes.
Three, yeah, three venous improvement proposals and proposal rules introduced as normal, fast, sharp and critical. Each rose has its own proposal threshold. It has its own time lock and it has its own voting period.
which can be configured by the governance. This particular, this very few roles in a booth designated individuals to expedite interest rates for experimental changes and making the governance process even more efficient and responsive to
markets dynamics and then lastly we have the Venus 2kg3.0. This Venus 2.0 is introduced in the V4 proposal as a significant upgrade and
reventing the economy of the protocol. The technology 3.0.6 to incentivize and protocol retention, reinvest value and be better short for defense mechanism. I believe all key conditions in
This new tokenomics is the introduction of Venus Prime Soulbound Chokins. That's the SBTs. If you don't know what SBTs are, they are non-transferable Chokins. That allows users to gain assets to
variable boosted use across selected markets which are paid out in the board or supplied currency. This actually helps you incentivize users to actively participate in protocol
because they can earn and hence return on their stakes, ex-vias tokens. And this is very much for them to be issued in two forms. We have the revocable which is for ex-vias stake as that makes a certain criteria. And then we have the revocable and that's for long-standing
community members and protocol users. So as Venus moved forward, it actually remains dedicated to creating a secure and efficient network system that's key to the evolving needs of its community. Thank you.
Wow, insane the amount of building that you guys do. That's amazing. And I think that one of the particular points and I'm actually that's the reason why we're having this AMA, right? Because BNBX is being, it's being listened in the
Venus, being listed in Venus because you are having one new feature in your product that is in your project, in your platform that's called Isolated Markets. Can you explain us now a little bit how what Isolated Markets are all about?
Okay, thank you. Sure. So crypto and lending as generally focused on large and large cup assets only as liquidity is important measure and sorry like more liquid assets have been deemed safe and no
for assets and management. Less liquid assets create extended rich as large transactions can easily create a volume price movement that forces out positions and have a waterfall effect.
So this ricks is shared across all assets in standard learning pools whereby a blowout in English is a long tailed assets would also take down the larger assets. So what are actually termites?
The mark is actually addresses this particular concern that is already due by isolated assets into subsets of the general population. So this pool, they actually ensure that the entire population of
assets is not at risk is a single asset sales. Only assets or any other asset that is in that same pool is only at risk. So only assets that are in that particular pool pool be at risk.
has been segregated to keep the less liquid and potentially, you should like to say yeah, but potentially more volatile assets separate from the general population. So that's what isolated markets is being clear about. Thank you.
Super cool. It's amazing to see how the space of borrowing and lending protocols have evolved in the last couple of years and how new features keep coming in. Did you see isolating risks?
for users and then giving more use cases and allowing different profiles of borrowers and lenders to come and interacting D5 right because of course traditional finance and institutions family offices they
have different risk profiles and needs from retail users like you and me. So the fact that you are giving that many options for different assets to be leveraged in the platform is amazing.
Now, I'd like to maybe you can share a bit more details on what isolated markets are going to mean for for stated labs as a new partner in particular for our liquid stake in token. How is that going to be leveraged factors of platform?
Yeah, thanks for the question. So we are actually in the last stage before launching this isolated market. The new features have provided us with a long list of new parts
as our second gate address model allows them to include like a more diverse group of tokens. No, only we will dis-new relationship bring new users to Venus, but we also have tremendous cool
So the new markets can be divided into categories. So in the trunk, for example, we have a biturant, an aftertaste, an aftertaste, and we have a biturant, an aftertaste, and we have a biturant, an aftertaste, and we have a biturant, an aftertaste, and we have a biturant, an aftertaste, and we have a biturant, an#
the game file area, we find the meta version of Raka, Floki and Moobox and in DeFi we actually expand our market to include interesting
solutions like NPR, BSwab, BFF, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX, WNX,#
B&B keystakes, state of labs and anchor B&B. Additionally, we will be focusing on anchor ETH in the Ethereum ecosystem. This strategic move and this strategic
move towards expanding and developing capabilities, demonstrate various protocols, commitments to innovation and growth in the language space. So by recognizing the limitation of focussion solely on large
That's amazing. Yeah, I mean, I'm a big fan of using LSTs in borrowing and lending protocols, particularly I love something like easy strategies like deposit BNVX, that BNVX is earning interest
at a 4-5% per year, but then I, that gives me also borrowing capacity and then I borrow another asset and I can even swap it for BNBX, deposit BNBX and at the end of the day, depending on your risk profile, you can do a leverage lending loop and earn double digits on your BNB relatively
easily. Wonderful. So, okay, let me see if I have a little bit, another question I see there are 80 questions already from the people in the comments. So I definitely want to go and pick the best of them. Let's see if I have
Some comment yeah, I have one more question which would be on security right this Venus before isolated markets features are amazing What have you done in terms of security? What are the improvements or updates in this field that you can give to the team that you can give to the community sorry
Okay, so as the English protocol, we are focused on providing the highest standard of security to our users. That is why before launching any updates or new features, we
conduct numerous code audits with top firms like 30 pegs shield and open zircling that is a few of them and currently we include integration, chain link, pick network, bind us or pull
time we said average price that's in TWAP or accurs and more cannot actually be added in the future. We have also added the service of gauntlet, I believe I mentioned earlier, we added the service of gauntlet which provides state of the arch rig
management technology and it is a key piece for allowing us to add features like isolated markets. Goandlet's trying to establish management tech has actually helped us to build a more secure ecosystem.
Rigs management also received a big boost through our price feed redundancy. So by running multiple price feed on the under the hood, yeah, that's the expression. Venus is in a much better position to provide the best price available to our users.
And again, just remove another barrier to entry and to the defy space for institutional investors. So in a way, it actually will come more people into the weather warning, also increases in widespread adoption. So in addition to all these measures, we've actually
introduced them a rich fund to cover any unfortunate events. Recently we started using this fund to repay loans from insolvent accounts that were not liquidated in time in past events. So that's it. Thank you.
Very interesting. There is also something called VIP 1-2-3 that introduced resilient price feeds. Can you tell us a little bit what was that proposal about and how has it made Venus safer protocol?
Yes, you know, I'm finished is actually making history by being the first protocol to implement resident price feed or accords and with the upcoming V4 upgrade and the introduction of this VIP 1 to 3
The VINUS protocol is set to enhance its price feed system and meet data on the VIX associated with single points of failure. So this advancement on the line and VINUS protocol commitments
providing a secure and reliable DEFI platform for its brain community. The introduction of Oracle DON-NFC brings several key benefits to the platform and it uses some of the
some of the benefits are increased reliability and high security continuity and resilience and let's say for the increased reliability redundancy measures and measures and minimize the measures and minimize
the impact of individual or a co-filius, ensuring a more reliable and uninterrupted flow of data within the protocol. Users can now confidently rely on accurate information for their landing, borrowing and investment
and in terms of enhanced security by diversifying or resources and leveraging decentralized or open networks. The need for to call strengthens its overall security. This, the redundancy
measures makes it more challenging for malicious actors or scammers to manipulate data or disrupt the platform's operation. And for continuity and resilience, or a coup redundancy measures
actually ensures the continuity of data feeds, even in the event of individual or a cool LM outages. This resilience contributes to the stability of Venus protocol and minimizes the potential for disruption or
the home times. The VIP wants to propose which is a key part of this upgrade. Actually replaces the previous price, the price provider with the resilience price feeds and also grants governance permissions to configure them.
This actually empowers the community with great up-and-true over the platform price feed system. It also optimizes the price feed for markets in the Venus Corp. The Brazilian price feed update and the UI
If you want to try to focus on max a significant step forward for Venus protocol. By embracing Europore redundancy and multiple Europore integrations, Venus protocol sets new standards for reliability and
resilience in the defy ecosystem. This advancements paved them the way for a resilient and trustworthy future for decentralized finance. Thank you. I hope that answers your question.
Fantastic. Wow. It's amazing how much effort Venus is putting not only on shipping features, but also to make sure that the protocol stays robust and say for everybody to use a feature that's very important for
for a new defy protocol. By the way, we at Stader, we also have a multi-layered approach to security and we are very happy to provide the most secure and robust LST in the BNB chain. Wonderful. So look, what I have done now, DB, is that I
selected some good questions from the community. And I moved to many many of them. Just let me give a shout out because I have pinned at the top of this AMA, the Galaxy campaign for Stether and Venus partnership.
So you guys should go to Galaxy, should make sure that you are taking all the boxes and you enter into that raffle for $100 rewards, right? But let me go ahead with a couple of
very good questions that the community has had, Devi, and then we can wrap it up. A member of the community is asking, what is a veto can and how does a veto can enable users to redeem the underlying collateral supply?
Okay, that's a good question. VToken is actually a tokenized representation of your supplied balance on Venus protocol. So each VToken actually has a unique BP
which you can view on buying us matching explorers or BS scans. So when you supply an asset to Venus, you receive the equivalent amount of V token because intracurricular
So, we are trying to make much sense to constantly distribute the app. We are trying to have the amount paid out in every block. So, let's just say we are trying to recognize the representation of your support.
and balance on Venus, where you supply and assets. Well, as you supply and assets and you want to borrow. So those of you took this actually representation of your supplied balance and Venus, I hope that answers your question.
Fantastic, very efficient design. Wonderful. So let's see the next question from the community. Are with drawables of assets on Venus Protocol instant or there is a cooldown period?
Yes, we draw the, actually, instance. All the work happens is when you want to, when you withdraw, you know, you're actually, you wait for your, your token, you actually be locked for less a period of seven days before you can completely withdraw but let me just say again, withdraw
So let's say whenever you go to the vinaigrette app, I could show you how it works. But when you go to VOTE and let's say you already state your
So when you click on redraw, you go to request redraw and request redraw in 70th century and it actually redraws in the century because you receive your friends in your personal
exactly 70 times. So that's about it. But redraw is actually instant.
Amazing cool. Let's see if I find a third and last question. There are many many questions, but many of the questions that you guys did actually were answered along the way by David, you know, like I said,
like many questions about security, many questions about isolated markets, about BNBX, but we kind of have already covered it during the call. So let's see if I have a third and last question to wrap it up.
Okay, well, this question is interesting. How many other protocols are looking to integrate the Venus-isolated lending market? Okay, so we're here, we're state-of-lapse, we're talking about VNBX, going into Venus, but how many other protocols do we?
Sorry, I didn't quite get the question.
Yeah, how many like the guys asking how many protocols how many projects are going to be integrated in these Venus isolated markets, right? Like the state of life is one of them state of love is one of them. How many other
I mentioned we have exactly 20 new markets. We have 20 markets to be precise. I think I mentioned it when I was explaining and when I was explaining about the launch of the ice cream market.
Wonderful guys, so this concludes the AMA between Stader and Venus. One last reminder to please realize the Galaxy link that I have pinned in the top of the chat. That's your ticket for a hundred dollar rewards.
best of luck to you guys and please give a follow to say that laughs B&B and to Venus Protocol. See you around guys, baby. Thank you so much for coming here. Yeah, thank you for having us today. I'm sure the community was true
to learn about our project and for the latest news and events you can receive a Co-Embarrassed Community and for the latest updates you can visit our Twitter page. You can see the link in my bio.
And you can check out Telegram Announcement Group. We also have a global community on Telegram for users who actually prefer to communicate in their native language. Venus has Telegram Group in Arabic, Chinese,
I'm German, French, Nidhi and Italian, anyone who enjoys Korean, please make sure you join our telegram group and visit our Twitter page. Thank you. And thank you once again for having me.
Fantastic all right guys have a good day wherever you are in the world signing off