Venus Prime Deployment Proposal for Ethereum Mainnet

Summary

This proposal outlines the deployment of Venus Prime on Ethereum Mainnet. The objective is to enhance user engagement and market participation through a sustainable rewards system, leveraging the protocol’s revenue to provide organic incentives.

Budget:

Total estimated budget for the first quarter: $240,000 Market Allocation:

WBTC_Core: 7% USDC_Core: 7% USDT_Core: 7% WETH_LiquidStakedETH: 79%

Details

Venus Prime is an incentive program designed to enhance user engagement and market activity within the Venus Protocol. By leveraging the protocol’s revenue, Venus Prime offers sustainable rewards using tokens from the same market, to eligible $XVS holders through a unique, non-transferable Soulbound Token.

For more information about Venus Prime, please refer to the protocol documentation: https://docs-v4.venus.io/whats-new/prime-yield

Budget:

Estimated Initial Budget: $40,000 Initial Boost: $200,000 Total Estimated Budget for Q1: $240,000

Given that this deployment is the initial phase for Venus Prime on Ethereum Mainnet, it is crucial to offer competitive rewards to attract and incentivize users. An initial boost of $200,000 is necessary to ensure the program’s success by providing substantial rewards that will drive user participation and engagement. This strategic investment will help establish a strong foundation for Venus Prime, facilitating significant growth in supply and borrow activities similar to the results observed on the BNB Chain.

Disclaimers:

• The estimated budget considers revenues for June 14, 2024, and a reserve allocation of 20% for Prime rewards.

• The amounts will be converted if the proposal is approved, based on the allocation indicated for each market above.

• The market allocations will be adjusted based on initial results and market conditions.

Conclusion The Venus Prime program has shown impressive performance, significantly increasing user engagement and market participation. Deploying Venus Prime on Ethereum Mainnet aims to replicate these successes, leveraging the protocol’s sustainable rewards system to drive growth and enhance user experience

Please see the link below for the complete proposal and additional details.