Deployment of New Liquid Staked ETH Isolated Pools on BNB Chain and Arbitrum

Summary

Several proposals were received to deploy new Liquid Staked ETH Pools on Venus BNB Chain and Arbirtrum deployments.

This snapshot vote is to decide on the deployment of isolated Liquid Staked ETH pools on Venus BNB Chain and Venus Arbitrum for the wstETH and weETH tokens. These tokens represent staked Ether on the Ethereum network, maintaining liquidity and enabling their use in trading or other DeFi applications.

The isolated pool ensures that the Liquid Staked ETH market operates independently from other pools, mitigating risks associated with volatility and liquidity issues.

Benefits

• Diverse Collateral Options: Adding LS ETH assets diversifies the collateral options available to users, enhancing the flexibility of the protocol.

• Users can benefit from Ethereum staking rewards indirectly through LS ETH, leveraging the rewards within the Venus ecosystem.

• Enhanced Liquidity: By integrating LS ETH, the protocol can attract new liquidity, providing users with more borrowing and lending opportunities.

• Staking Rewards: Users who deposit LS ETH can continue earning ETH staking rewards, creating additional income streams while participating in the protocol.

Proposals

Lido wstETH: https://community.venus.io/t/support-lido-wsteth-token-in-a-new-venus-protocol-bnbchain-lst-eth-pool/4526

EtherFI weETH: https://community.venus.io/t/support-weeth-collateral-on-venus-on-bnb-chain/4305

Chaos Labs recommendations (BNB Chain): https://community.venus.io/t/support-lido-wsteth-token-in-a-new-venus-protocol-bnbchain-lst-eth-pool/4526/6

ChaosLabs recommendations (Arbitrum): https://community.venus.io/t/chaos-labs-launch-parameters-for-liquid-staked-eth-pool-on-arbitrum-06-08-24/4514

Strategic Partnerships and Growth

Attract New Users: By integrating a popular asset like ETH, Venus can attract more users from the Ethereum ecosystem and other DeFi platforms, driving growth and engagement.

Strengthened Ecosystem: The addition of Liquid Staked ETH aligns with Venus’s strategy to diversify its asset base and strengthen its position in the DeFi space.

Conclusion

Deploying Liquid Staked ETH Isolated Pools on Venus BNB Chain and Arbitrum will provide numerous benefits, including diversified collateral options, increased liquidity, new earning opportunities, and enhanced risk management. This initiative aligns with Venus’s goal of expanding its ecosystem and offering innovative financial solutions to its users.