I hope the new team realizes that the XVS price is vital to the Venus platform. I agree with the measures taken to cover the debt that has arisen as a result of the unfortunate event on the platform in the past period. However, the main condition for these measures to yield results is that the XVS price reaches the place it deserves.
The very weak appearance of XVS in the last 4-5 days and its inability to even react to the BTC rise worries me. I think the attitude of the new team is that if we strengthen the foundations of the platform, the XVS price will rise accordingly. While this is true most of the time but the situation is different now.
If the XVS price continues to drop, you cannot continue to sell XVS to cover the gap. You can’t close the gap unless you sell XVS. At the end of this vicious cycle, the collapse of the platform will be inevitable.
Here are some of my suggestions to remove the selling pressure on XVS:
Now that the new team has included VRT in the game, it means there are enough VRTs to give away to supplyers as a reward for years. In this case, burning a significant part of XVS will not harm the reward mechanism of the platform.
Offer XVS holders extra interest or returns in platform for long-term supply.
Identify new fees that are small enough to not disturb the platform supplyers and borrowers and distribute them to XVS holders. Identify new revenue models for the Venus platform, distribute these revenues to XVS holders, and encourage holding, not selling, XVS.
Instead of selling 3.3 million XVS to the market in 9 months, sell it to Binance or a whale at a price that will close the debt in one time, on the condition that it stays locked for 2-3 years. Allow them to sell these XVS or buy back them with platform revenues when this period expires.
Agreed! As the Turkish community, if they want to attract investors, the team should give confidence about the price, otherwise the project will suffer. The reason why Turkish popularity is weak is the price. Venus team should take this into account.
I agree with your proposal. Venus lost its credibility particularly to those who loss from the rugpull. Same token like Pancake bunny and burger to name a few, prioritized compensating those who were affected by the incident and keep reminding them through tweeter on the matter. WIth venus , nothing. The priority is to pay the one who did this. You can have a snapshot of all the holders whose values of their xvs went down by 90% from a high of US$120, I remember I bought almost 10KUSD$ because of the promise burn at that time. Plus upto now even the promise of nft were not given. You can actually compensate them using VRT for their loss, to gain the trust back. COntinue the burn as promised. Build VRT and do a marketing campaign on Venus commitment to compensate those affected especially those whose staked venus got 90% price value wiped out. Thank you and God bless us all in esus Christ name>
Soo you wanna a whale or binance to pay the debit lol… and has the coins locked by 2-3 years… a whale can get as many XVS at binance and hold and trade whenever wants… why would someone frozen money for such long period… be realistic atleast.
Burning makes no sense right now… we need to recover Venus and it has to be done step by step without rush…
We need to rebuild and grow as community… New tokeneconomics and VRT should help a lot to handle the bad debit…
Well the problem here is that the team moved 1 million tokens when the price went to 36 dollars and sold them all off. The teams only are concerned with price when they can profit from it. Which they did as shown by the blockchain movements.