Dear Venus Community,
All work on Venus Protocol has been going on normally this week.
Progress
Guardian migration
VIP-45 with the guardian migration and marketing grants for the Venus vault launch event and Marketing was proposed, approved and executed. The backend preparations for the guardian migration are on review.
Vault
Vault-based governance scenarios are on review and the vault has been successfully tested internally. Peckshield has scheduled the audit of the Vault to start on November 2nd only, due to the workload they already have and a slight delay in providing a missing document on our end as well. We apologize to the community for this delay. We want to launch the vault as soon as possible as well and we are looking at a second and possibly quicker auditing option. In the meantime, we have already started preparing the backend and frontend for the vault-based governance.
VAI
The work on VAI stability fee is on-going and progressing.
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We will still need to audit the stability fee change
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We are going to first focus on:
- preparing the frontend and backend for the vault launch (although the vault page for VAI and XVS is ready, we still need to adapt to GovernorBravo and support VRT in the Vault UI)
- blacklisting bankrupt accounts
- changing the liquidation incentive
The team will likely advance faster on the stability fee after blacklisting and will work on liquidation incentive and other tasks after they finish the backend & frontend preparations.
VRT
VRT to XVS conversion contract/dApp is in progress and expected to be launched a few days after the XVS Vault goes live.
Risk parameter
The specific adjustment plan is being tested and reviewed internally.
Business Development & Marketing
Last week we have been conducting various due diligence processes on possible new partners and we have also progressed on the ongoing work with recently announced endeavors. We have A LOT of ongoing Business Development.
We are also in contact with more partners to launch VAI on more crypto debit cards companies with the goal of making VAI the largest globally available and accepted decentralized stablecoin as form of payment.
Marketing is still in the planning phase and should start soon with the launch of the new XVS Vault, new tokenomics and new features.
Venus key data this week. （Week42）
| Venus Metrics | Data | WoW |
|---|---|---|
| Average Total Liquidity | 4.0B$ | -6% |
| Average Total Borrows | 1.3B$ | 16.3% |
| Average Available Liquidity | 2.8B$ | 3.7% |
| Average Utilisation | 31.6% | -7.4% |