Enable BNB as a Prime Market on BNB Chain

Summary

This proposal advocates adding BNB as a Venus Prime market asset, extending the Prime program’s boosted rewards to BNB lending and borrowing on Venus Protocol. BNB is the native token of BNB Chain and a top-3 crypto asset by market capitalization (>$90B) . It plays a central role in the BNB Chain DeFi ecosystem, serving as gas and a primary store of value for users. On Venus, BNB has consistently been one of the largest and most utilized assets, accounting for up to ~39% of total collateral in mid-2024 and often leading in borrow demand. However, BNB is not yet included in the Prime incentive markets (currently USDT, USDC, BTC, ETH). Enabling BNB as a Prime market would align incentives with its importance: Prime users (those who stake XVS for a Prime soulbound token) would earn boosted rewards on BNB, encouraging more BNB deposits, stable utilization, and deeper liquidity on Venus.

In summary, adding BNB to Venus Prime is a strategic move to leverage BNB’s prominence in the ecosystem. It would reward BNB suppliers/borrowers with extra incentives, make Venus more attractive to BNB holders, and likely increase Venus’s TVL and fee revenue. Given BNB’s historical performance on Venus (high TVL, episodic surges in borrow volume, and significant contribution to protocol revenue), the return on investment (ROI) for including BNB in Prime appears very compelling. This proposal details the rationale and expected benefits, using on-chain data from BNB Chain and Venus to support the case.