[MultiChain] Support LayerZero $ZRO Token on Venus

Proposals
1

Summary

I am proposing that we add support for the LayerZero $ZRO token as a collateral asset to Venus on BNB Chain, ETH Mainnet and Arbitrum.

Motivation

The $ZRO token serves as the native governance token for LayerZero, currently boasting a market cap of approximately USD $450M, placing it within the top 150 cryptocurrencies on platforms like CoinMarketCap.

With LayerZero’s growing ecosystem and increasing user base, incorporating $ZRO as a collateral asset would provide governance token holders with an opportunity to leverage their holdings effectively.

Additionally, $ZRO is already gaining traction in the decentralized finance (DeFi) ecosystem and integrating it as collateral on Venus would enhance our competitive edge by being one of the first Lending protocols offering this asset.

Background

$ZRO was launched to empower the LayerZero community by enabling governance participation and rewarding token holders for their contributions to the protocol. LayerZero aims to provide a seamless, omnichain experience, allowing users to interact across multiple blockchains effortlessly.

As of now, LayerZero’s protocol supports a range of decentralized applications, significantly contributing to the DeFi landscape. With $ZRO as collateral, users could unlock more capital efficiency while engaging with LayerZero’s diverse offerings.

Benefits

Integrating $ZRO as a collateral asset would allow token holders to utilize their assets more effectively, improving capital efficiency across the Venus ecosystem. This move would also increase liquidity for $ZRO on DEX’s, facilitating smoother transactions and liquidations on-chain.

The existing liquidity on decentralized exchanges, such as Uniswap & PancakeSwap further supports this proposal, with robust liquidity pools capable of handling $ZRO trades. This liquidity ensures that any potential liquidations could occur seamlessly.

Conclusion

This proposal aims to underscore the strategic value of integrating $ZRO as a collateral asset on Venus. By doing so, we can enhance the capital efficiency for $ZRO holders, attract more users to our platform, and solidify LayerZero’s position as a leading player in the Web3 space.

Let’s unlock the potential of $ZRO on Venus!

8 Likes
2

I am in total support of this. :100:
This would enhance asset diversity, attract a broader user base, and boost engagement from the growing LayerZero community. It also aligns with our goal of increasing liquidity and capital efficiency across the ecosystem :wink:

3

This is a great idea. $ZRO is held by a large number of enthusiasts in a portfolio. By allowing $ZRO to be used as a collateral asset we will attract additional liquidity and expand our user base. Definitely in favor of

4

First to do it… Lets go

5

100%. It is time to add LayerZero to Venus :wink:

6

Definitely perfect timing to add the ZRO market! I believe that many holders will enjoy to use ZRO as collateral on Venus. :sunglasses:

7

Good proposal! Venus will be the first well-known lending protocol to introduce $zro. Let’s vote quickly!!

8

This is a welcomed development. Let’s do this guys and bring in even more great tokens on board.

9

I’m in! Previously was interested with this token, if i can Stake with venus, it’s a win win.

10

I support Venus’s collaboration with LayerZero.