Support USDF/asBNB from Aster on Venus Core Pool of BNB Chain

Proposals
1

Summary
This proposal seeks the prompt approval for listing USDF and asBNB in the Venus Core Pool on BNB Chain. Aster is actively expanding its ecosystem within the BNB Chain, aiming to enhance DeFi opportunities for users. Integrating USDF (Aster’s native yield-bearing stablecoin) and asBNB (Aster’s liquid staked BNB derivative) into Venus will provide users with diversified lending and borrowing options, potentially increasing borrow demand and overall platform liquidity.

Context
Aster is a multi-asset liquidity hub dedicated to maximizing the real yield of crypto assets. Its flagship products include AsterEarn, a real yield layer amplifying returns through high-yield DeFi and CeDeFi strategies, native rewards, and ecosystem yield;
USDF (TVL 135.5M) is a decentralized, yield-bearing stablecoin pegged to the US dollar. Users can mint USDF by depositing USDT at a 1:1 ratio. The deposited USDT is then deployed in low-risk, delta-neutral strategies on platforms like Binance to generate returns. These returns are distributed to holders of asUSDF (TVL 65M), the staked version of USDF, allowing users to earn passive income while maintaining stability.
asBNB (TVL 103.77M) is an innovative liquid staking derivative for BNB. Users can stake BNB or slisBNB to mint asBNB on Aster. asBNB offers multiple sources of real yield, including Binance Launchpool rewards, Aster’s Au airdrop points, Binance Hodler Airdrops, and Megadrop rewards. This allows users to maximize their BNB utility and achieve sustainable returns.
Aster has chosen Venus as its primary money market partner on BNB Chain to facilitate lending and borrowing functionalities for its core assets. To incentivize participation, Aster will introduce a rewards program offering Au points to users who engage with USDF and asBNB markets on Venus. Au points can be accumulated and will grant users an allocation of Aster tokens upon the Token Generation Event (TGE).

Details
● Aster website: https://asterdex.com

● Aster Twitter/X: x.com/aster_dex

● USDF contract:
USDF Token Contract: 0x5A110fC00474038f6c02E89C707D638602EA44B5

USDF Minting Contract: 0xC271fc70dD9E678ac1AB632f797894fe4BE2C345

● asBNB contract:

asBNB Token Contract: 0x77734e70b6E88b4d82fE632a168EDf6e700912b6

asBNB Minting Contract: 0x2F31ab8950c50080E77999fa456372f276952fD8

● Aster documentation: https://docs.asterdex.com

● Smart contract audits: Audit Reports | Aster

Aster is collaborating with decentralized oracles (Binance Oracle, Pyth, Chainlink) providers to deploy robust price feeds for USDF and asBNB. These oracles are scheduled to go live prior to the official integration on Venus, ensuring accurate and reliable pricing data.
To support liquidity, Aster has significant funds into PancakeSwap stable & v3 pools, establishing deep, low-slippage markets for USDF-BNB and asBNB-BNB pairs from the outset.

Risk Parameters
Given the time-sensitive nature of Aster’s BNB Chain expansion, we propose an optimistic listing of USDF and asBNB on Venus with the following initial parameters:
● Borrow Cap: $50,000,000 (initial)

● Collateral Factor (CF): 75% (initial)

Aster is committed to enhancing the DeFi ecosystem on BNB Chain by providing users with secure and lucrative options through the integration of USDF and asBNB into Venus. We believe this collaboration will significantly benefit both platforms and their user communities.

1 Like
2

I don’t support adding USDF/asBNB to the Venus Core Pool at this stage. In my viewpoint, these assets should first be listed in an isolated pool for risk control and gradual evaluation. Unless Aster is willing to provide at least $100~200k in liquidity, I will vote against this proposal.

3

I support the proposal to list USDF and asBNB in the Venus Core Pool. The proposal shows both assets are backed by strong utility, solid TVL, and deep liquidity. Aster’s integration plan, oracle setup, and incentives through Au points make this a promising collaboration that can enhance Venus’s ecosystem. Let’s have this asset reviewed

4

I want to know if there is a depeg or bad debt between USDF/asBNB, will ASTER compensate for this loss? If yes, I strongly support the proposal.

5

If it comes to me then I would be extremely cautious with adding that kind of tokens to the core pool. I don’t have much information about it so I won’t judge but if there are any doubts then we should stay away from the risk.

So concluding, we should calculate risk/ratio and then decide.

6

I’d like to see more information on the safety of this pairing. if the numbers show transparency and low risk then it could be put to a vote, but so far I highly doubt it.

7

I support adding asBNB, but only if we integrate with Aster : we need supplied asBNB to generate AU points and to be eligible for megadrop and holder drops.

I would disable borrowing, and keep the collateral value in check for security and potential depeg reasons

2 Likes