Dear Venus Community,
This week, we finalized the plan of Venus tokenomics and clarified several issues that everyone cared about most and more important work is in progress.
Now that the tokenomics of Venus have been determined, our development will be carried out accordingly. It is expected that the core functions of the new XVS Vault will be launched before the end of September (or earlier).
At the same time, the preparations for the settlement of the shortfall have entered the final stage, and, we are conducting the final test of the technical solution.
After the test and audit are completed, we will initiate a proposal as soon as possible.
In addition, this week we are also continuing to focus on the unpeg problem of VAI.
As we said before, the function of the Vault has been under development. With the confirmation of tokenomics, the development of the Vault has entered the final stage. It will be followed by testing and auditing.
Evaluation of the new tokens
We are looking into new tokens to be added to the protocol and the main standard used to evaluate them is of course, the Venus Protocol risk assessment framework, previously released. Once results are obtained, we will post proposals in the community for everyone to discuss.
We are considering further reducing SXP distribution rewards of XVS and adjusting SXP interest rate model to the Jump Rate Model. The plan is currently being tested.
VAI unpeg problem has become more and more serious and we are formulating and discussing solutions to this problem.
We are preparing more AMA’s in different communities. Next week, we may have an AMA in cooperation with well-known DeFi to be held in a famous Chinese crypto community. We are negotiating the specific event time with our partners.
Cooperation negotiations with more partners are in progress, and the specific details will be disclosed after confirmation.
Venus key data this week. （Week33）
|Average Total Liquidity||4.2B$||11.63%|
|Average Total Borrows||1.4B$||2.53%|
|Average Available Liquidity||2.8B$||16.74%|