Dear Venus Community,
In the past week, all work has gone well and we have made a lot of progress. We’re about to start the countdown to the launch of our new Vault, and we have also determined a solution for the VAI off-peg issue. Venus has introduced new assets and will introduce more.
Progress
Venus Vault
We are currently testing the Vault and will deploy it to the testnet before September 13th. At the same time, both internal and external audits are already in progress.
Evaluation of the new tokens
This week, Venus has added support for Aave. At the same time, we have completed the evaluation of the new asset TUSD and completed the test of it. We will soon initiate a VIP to introduce TUSD into Venus.
Risk Parameters
After testing, we will increase Cake’s borrow cap in the next VIP.
VAI
We will stop VAI minting in the next VIP. This is just the first step for VAI to return to Peg. The complete plan for VAI to maintain stability will be released soon.
VRT
We have started the design and implementation of the conversion dApp from VRT to XVS.
Transaction history UI
The function of transaction history has been deployed.
DefireX stuck funds recovery
Release stuck funds for DefireX #56 (https://github.com/VenusProtocol/venus-protocol/pull/56). is fully validated and will be deployed soon. Releasing the funds for DefireX requires 6 commands (set new implementation, release funds, restore current implementation * 2 assets) and in VIP-41 we have: 4 commands for TUSD + 1 for cake borrow cap + 1 for VAI minting = 6 so, if we join these, we’ll have 12 (>10).
As each VIP can only contain 10 commands, this change will be followed after VIP-41.
BD
The cooperation and communication on the Venus Mission event are still in progress. We have solicited many partners at present, and the specific event reward amounts and rules will be fully released as we finalize all the details…
MARKETING
After evaluating different options, we have chosen to work with MarketAcross, one of the world’s Leading Blockchain PR & Marketing firms to help with our marketing efforts. We are in communication with them to arrange the specific details of our cooperation. All the details will be shared with the community after confirmation.
Venus key data this week. （Week36）
| Venus Metrics | Data | WoW |
|---|---|---|
| Average Total Liquidity | 3.89B$ | -1.64% |
| Average Total Borrows | 1.33B$ | -9.2%% |
| Average Available Liquidity | 2.52B$ | 2.79% |
| Average Utilisation | 34.07%% | -7.6% |