Proposal: Deploy Venus Protocol on opBNB

A proposal from an #opBNB community member was published to the Venus forum several weeks ago proposing the deployment of the Venus Protocol on the opBNB blockchain.

There is a unique window of opportunity for Venus to become the leading money market on opBNB, a new high-performance layer-2 solution within the BNB ecosystem, built using the OP Stack.

II. ABOUT OPBNB

opBNB is a new high-performance layer-2 solution within the BNB ecosystem, built using the OP Stack. Leveraging its block size of 100M, opBNB’s gas fees remain stable and low cost, making it a great solution for widespread adoption. From gaming and DeFi, opBNB caters to a diverse set of needs while delivering optimal performance.

III. RATIONALE

1. First mover advantage: Venus has a unique opportunity to become the leading money market whilst opBNB is still small. Large money markets have their eyes on the BNB ecosystem so it is best to deploy sooner rather than later.

2. Gateway to Binance’s users: Binance has recently deepened its integrations with opBNB in order to help onboard more users onto the chain. As market sentiment continues to improve, opBNB will likely emerge as one fo the most attractive L-2 solutions for mass retail.

3. Improved defensibility: 2023 saw more competition among chains through the proliferation of L-2s. There is a higher bar for scalability and cost. Venus has the opportunity to strengthen its edge by meeting users on this expectation.

4. Grow TVL: opBNB is growing in momentum (thanks in part to a new TVL incentive campaign and growing incentives from PancakeSwap). It is only a matter of time until lend/borrow activity kicks off.

5. Strong roadmap at opBNB: opBNB has published its ambitions for the ecosystem in its community-driven wishlist. These product innovations will likely drive more activity on the chain and ultimately flow to a native Venus on opBNB.

Discussion and complete proposal in the link below.