TechFlow news, BNB Chain lending protocol Venus Protocol has announced on Twitter the upcoming launch of Venus Prime.
Previous report, BNB Chain lending protocol Venus Protocol plans to launch its incentive program 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:
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Venus Prime adopts a self-sustaining rewards system, with rewards funded by protocol revenue, ensuring sustainability and continuous growth.
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Eligible $XVS holders will receive non-transferable Soulbound Tokens to boost rewards in specific markets.
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Venus Prime encourages user commitment through two unique Prime token types:
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Irrevocable "OG" Prime token: Users must lock-stake XVS for 12 months and actively deposit and borrow on Venus each month.
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Revocable Prime token: Users must continuously lock at least 1,000 XVS for 90 days to earn a Prime token. If users withdraw XVS or fall below 1,000 XVS balance, the Prime token will be revoked.
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