TechFlow reports that BNB Chain-based lending protocol Venus Protocol plans to launch an incentive program called Venus Prime in early Q4 2023, aiming to boost user engagement and growth within the protocol as part of Venus Tokenomics v3.1.
Key features of Venus Prime:
- Venus Prime adopts a self-sustaining rewards system, with rewards funded by protocol revenue, ensuring sustainability and continuous growth.
- Eligible $XVS holders will receive non-transferable Soulbound Tokens to boost rewards in specific markets.
- Venus Prime encourages user commitment through two unique Prime tokens:
- Irrevocable "OG" Prime token: Users must lock XVS staking for 12 months and use Venus for deposits and borrowing at least monthly.
- Revocable Prime token: Users must continuously lock at least 1,000 XVS for 90 days to earn the Prime token. If users withdraw XVS or their balance drops below 1,000, the Prime token will be revoked.
Add to Favorites
Share to Social Media
