Referring to our previous proposal, Venus Tokenomics Phase II — Prime Rewards Redesign — which detailed the new Prime leaderboard details. we have decided to begin execution on BNB Chain. This post does not restate the mechanism; it focuses on how the migration will be carried out and the timeline, so the community knows what to expect at each step.
Timeline
Prime holders can continue to boost their position up until launch: until the freeze in Step 2 begins, stakers can still add to or adjust their XVS positions. The rollout then proceeds in five steps:
- Introduce PrimeV2. The PrimeV2 and PrimeLeaderboard contracts are introduced on BNB Chain, implementing the design set out in the Phase II proposal.
- Freeze staking. A critical proposal pauses XVS Vault staking for the migration window and stops new legacy Prime reward accrual, so balances are stable. Supplying and borrowing on Venus markets are unaffected — only XVS staking is temporarily paused.
- Reward sweep. Every legacy Prime holder is paid out their pending rewards in full against the frozen balances, and all balances are verified as settled before the next step.
- Migrate. The migration proposal points the rewards infrastructure at the new contracts, configures the launch markets — USDT (vUSDT) and WBNB (vWBNB) — and decommissions legacy Prime. It is proposed today and is executed once its timelock elapses and the reward sweep is confirmed complete.
- Seed and resume. Existing stakers are seeded into the new leaderboard, after which the Guardian resumes XVS Vault staking.
Summary
If approved, this proposal begins the execution of the Prime Rewards Redesign on BNB Chain. The rollout runs in several steps for a single purpose — to ensure a seamless transition from legacy Prime to PrimeV2, with no disruption to holders and nothing earned under the existing program lost in the handover.
We welcome community feedback on this proposal ahead of submitting it for a VIP vote.