Token

Prime

Venus

<a target="_blank" href="https://tokeninsight.com/en/coins/venus/overview">Venus Protocol</a>, a lending protocol on the <a target="_blank" href="https://tokeninsight.com/en/coins/binance-coin/overview">BNB</a> Chain, announced that it will launch an incentive program, Venus Prime, early in Q4 2023. It aims to bolster user engagement and growth within the protocol and promote $XVS staking, with a focus on markets including $USDT, $USDC, $BTC and $ETH.
Venus Prime rewards are said to come from the protocol's revenue rather than from external sources. Eligible $XVS holders will receive unique, non-transferable Soulbound tokens. The agreement will encourage pledging through both Prime tokens:
<ul>
 <li>Irrevocable "OG" Prime Token:
 <ul>
 <li>Users must keep $XVS staked (locked in) for 12 straight months.</li>
 <li>Users also need to use Venus to supply and borrow at least once every month for a year.</li>
 </ul></li>
 <li>Revocable Prime Token:
 <ul>
 <li>Users need to stake at least 1,000 $XVS for 90 days in a row.</li>
 <li>After these 90 days, they can get their Prime Token.</li>
 <li>If a user decides to withdraw $XVS and their balance falls below 1,000, their Prime Token will be revoked.</li>
 </ul></li>
</ul>
According to TokenInsight data, the price of $XVS went up by 42.17% in the last 24 hours, trading at 5.3007 now.
<img src="https://s2.tokeninsight.com/static/calendar/img202309080349129320e896-d8b9-4d43-bbca-a1580a9945f2.jpg">
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Venus Protocol Launching Incentive Program in Q4 2023 to Promote $XVS Staking

TokenInsight

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