Venus Community suggests to use Venus Grant Program(VGP) and release certain amounts of XVS from Venus Distribution Tokens to externally owned address (EOA), and also introducing a “Bailout” feature to allow users to supply XVS on behalf of a bankrupt address.
Venus Community expects that ~3.3 million XVS tokens will be allocated to a public address owned by Binance to initiate the bailout.
- Over a period of 9 months, 3.3 million XVS will be injected into the bankrupted addresses in a close-to-linear proportion using the “bailout” function so that the tokens can be slowly liquidated to repay the borrowed debt.
- Binance will compete as a participant in the liquidation events, and will reuse the liquidation fees in the next round of injection.
- Residual XVS (if any) will be returned to the Treasury.
Based on the latest security audits from Peckshield, there are no major issues. Two new features will be deployed, and the above steps will be executed in full transparency on Binance Smart Chain and under close scrutiny from the community.
- Add function _grantXVS in Comptroller for Grant Program
- Add function mintBehalf in VBep20Delegator for Bailout
VGP Github ：
Audited by PeckShield:publications/PeckShield-Audit-Report-VenusGrant-v1.0.pdf at master · peckshield/publications · GitHub
Audited by PeckShield:publications/PeckShield-Audit-Report-Venus-MintBehalf-v1.0.pdf at master · peckshield/publications · GitHub