VIP47 Support TRON on Venus and Withdraw reserve funds

Venus Governance Draft Proposals
1

Summary

Support TRON (TRX) on Venus Protocol & Withdraw Reserve Funds.

TRX Parameters

Reserve Factor: 20%
Collateral Factor: 60%
Curve: Base200bps_Slope1500bps_Jump30000bps_Kink60
Distribution: 50 XVS/day (25 for supply and 25 for borrow)

What is TRON?

TRX is the native cryptocurrency of the TRON Protocol. TRON boasts over 61 million users on its MainNet, with its total trading volume exceeding 2.55 billion. TVL on the platform reaches an astonishing $11.8 billion, and up to $30.4 billion worth of TRX is staked, registering a real-time staking rate of 29.81%. Now, the total market cap of TRX has surpassed $11 billion.

Since its inception in 2018, TRON has maintained its fast-paced growth. The market cap and liquidity of TRX have also experienced sustained growth along the way. The past six months have witnessed its turbocharged performance and TRON is currently developing more products on the Binance Smart Chain as part of their ‘Connect All Chains’ Initiative.

Withdraw Reserve Funds

Since we are launching our new XVS Vault and celebrating VENUS 1 YEAR ANNIVERSARY at the same time, we’ve decided to make it worth it and to CELEBRATE IN BIG! In this VIP, we will also withdraw all interest reserve funds from the Protocol (Currently Estimated at over 17,000,000$). We will use a lot more funds for buyback and distribution to XVS Holders than initially planned and, the Risk Fund allocation will be used to repay the pending shortfall as soon as possible. Here’s how we will use the funds:

39% will be allocated to Risk fund
29% for XVS buyback burn
20% as initial XVS vault airdrop to XVS Holders
4% for Business Development and Marketing
8% for Project operations

HOW MUCH IS THE BUYBACK AND BURN?

At the current market value, the Buyback and burn is evaluated to be close to USD 5,000,000$!!

HOW MUCH IN XVS WILL BE DISTRIBUTED TO XVS VAULT HOLDERS?

At current Value, XVS Stakers in the new XVS Vault will share approximately 3,400,000$ in XVS Tokens.

Total: 8.4M$ Buyback (3.4M$ Given back to users instead of the Treasury and 5,000,000$ BURNED. This is the first part of our announced 15M$ Buyback but we’re doing it a little different then initially planned. We’ve decided to give back more to Venus supporter’s..

There is no force more powerful than a community that is determined to succeed and, this is the beginning of our future success. Thank you for your support Venus Community!

STAY TUNED FOR MORE ANNOUNCEMENTS. THE COMPLETE MISSION TO VENUS CONTEST DETAILS AND EXTRA ANNIVERSARY PRIZES WILL ALSO BE ANNOUNCED THIS WEEK, DONT MISS OUT! :rocket:

13 Likes
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Nice! Good news ! After so many difficulties and waiting, I hope to have a good future.

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1 Like
3

Tell everyone, Venus to the moon

4

No mention of VRT. Hopefully that swap is still happening.
Do you have a launch date yet?

5

Is the XVS airdrop applicable for the VRT holders who are waiting to Swap for XVS and are going to swap and lock XVS when it is available.?

I’m sure many users who believed in XVS have acquired more VRT to swap for XVS.

2 Likes
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Unfortunately no. XVS Holder’s only. I’m not sure if the Swap will already be available but, I will check.

1 Like
7

Yeh a lot of us have been buying vrt as we’re planning to go long on xvs :smiling_face_with_three_hearts:

3 Likes
8

Hope Venus could leader the main BSC projects to people sight🚀

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Thank you Danny. Please consider the swapped VRT to XVS for the bonus ( at least in some ratio).

10

Lets goo Danny we are ready :wink:

1 Like
11

good 我们准备好了strong text

12

we need to support solana avax and fantom

13

Does it include holding xvs on the exchange?

15

Its great . Make Venus great agian. :fire::fire::fire::fire::fire::fire::fire::fire::fire:

1 Like
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The community needs more details and docments for the buyback, let the community know how it works and what rules will be followed and who will give a financial audit and supervision.

With these details and docments, every buyback will have a rule to follow, then everything will be operated like a BOT.

Time? Period? Quantity? Where? Who? How? Audit? Supervision?

Personally, I don’t want to see a buyback like last time.

5 Likes
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Exactly what I’m wondering why not add some coins the community want’s SOL, AVAX, LUNA, even SHIB at this point.

2 Likes
23

In this VIP, we will also withdraw all interest reserve funds from the Protocol (Currently Estimated at over 17,000,000$).

I think we didn’t achieve the goal, what is the next move?

24

No. VIP47 didn’t work out because of a problem withdrawing BNB, which is why we issued VIP48. Still, BNB interest reserves weren’t withdrawn from VIP48 so we are about 2.5M$ short.

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Actually, not 2,5M$ short but, 2.5M$ reserved for later :wink:

1 Like