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Venus ProtocolVenus Protocolby0xc444949e0054A23c44Fc45789738bdF64aed2391venusvanguard.dao

Deploy Venus Protocol on Ethereum Mainnet

Voting ended over 2 years agoSucceeded

Spapshot Ethereum.jpg

Based on Michael Egorov's proposal, published on Novermer 5th 2023,  the main aim is to deploy Venus Protocol on the Ethereum Mainnet. This decision is driven by the fact that Ethereum has the highest liquidity and capital deployed, making it a favorable platform for on-chain trades. 

Furthermore, the proposal suggests listing Curve tokens, crvUSD and CRV, as collaterals on Ethereum, along with proposing CRV/XVS rewards for the benefit of the Venus community, Curve ecosystem, and Ethereum as a whole.

The rationale behind this proposal is threefold. Firstly, the Ethereum Mainnet requires more lending protocols, and the presence of Venus would help to fill this gap.

Secondly, deploying Venus on the Ethereum Mainnet would create visibility and brand awareness for the protocol.

Lastly, Curve, being a leading AMM with a stablecoin (crvUSD) that maintains a close peg, aims to be present in all lending protocols and enhance adoption for crvUSD.

The proposal also outlines the details for the core pool on Venus, isolated pools on Venus, liquidity mining incentive for crvUSD suppliers, and the creation of pools on Curve. The plan includes setting supply and borrow caps for different assets, such as crvUSD, CRV, and other stablecoins, as well as incentivizing liquidity providers with CRV rewards.

Additionally, the proposal suggests creating various pools on Curve, such as VAI/crvUSD, XVS/crvUSD, and XVS/VAI on the Ethereum Mainnet. The aim is to help Venus assets find liquidity and facilitate the creation of these pools on BSC once Curve is deployed there.

Finally, the proposal highlights the importance of obtaining a gauge for the curve pool, which would allow liquidity providers to receive CRV tokens as rewards. This gauge would require a positive vote from Curve Dao, and owning veCRV or other veCRV liquid tokens would grant voting rights.

Overall, the proposal aims to deploy Venus on the Ethereum Mainnet, list Curve tokens, incentivize liquidity providers, and collaborate with Curve to create pools that benefit the Venus community, Curve ecosystem, and the broader Ethereum network.

Off-Chain Vote

For. Deploy on Ethereum.
453.02K XVS100%
Against. Do not deploy.
0 XVS0%
Quorum:906%
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Discussion

Venus ProtocolDeploy Venus Protocol on Ethereum Mainnet

Timeline

Nov 16, 2023Proposal created
Nov 16, 2023Proposal vote started
Nov 17, 2023Proposal vote ended
Nov 15, 2024Proposal updated