Blockchain
Venus Launches Pilot Grants Program to Support Ecosystem Innovation
Singapore, Singapore–(Newsfile Corp. – February 9, 2022) – The community behind Venus, the leading DeFi lending protocol on Binance Smart Chain, is launching a grants program to help foster innovation within its ecosystem, supporting developments in DeFi that will pave the way for more institutional usage in a multi-chain environment.
The proposal to launch the grant program aims to leverage the Venus treasury, where several million USD worth of XVS is available, to fund community grants and develop the protocol. The Venus Grants Program is a structured initiative to use these funds for the betterment of the Venus protocol, opening the doors for external developer teams and individuals to add useful features and services.
The grant program has a wide scope in terms of what it can support, including core protocol development of Venus and other projects building on top of it, the development of alternative frontends and applications integrating Venus, developer tooling, code audits and bounties. Community-centric proposals will also be considered, including educational material grants and the organization of events and hackathons.
Grants are divided into: Accelerated Grants, disbursed within 10 days of application by the grant committee and totaling a maximum of $100,000; and Ecosystem Grants that can provide up to $600,000 in funding but require feedback and involvement from the community. Larger sums can also be offered, but the deliberation will be subject to a full governance vote.
The initial pilot program will run for two quarters (six months) and will include $1 million in total funding with $100,000 reserved for operational expenses during its duration. The VGP committee will include five members, with one lead and four reviewers. The members of the committee will be voted on by the DAO as part of the grant approval process, with a six month mandate.
At the end of the initial pilot mandate, the Venus Grants Program will be reviewed for its effectiveness based on parameters such as growth in Venus TVL, fees, or community support.
“We’re very excited to begin this Venus Grant Program pilot and see if we can scale it up even further,” said Brad Harrison, Venus CEO “We’re especially excited to support applications that build upon the core Venus smart contracts. Yield aggregators, strategies, or even alternative frontends that help us further decentralize and increase reach with users. If you want to build it, we will support you in any way we can.”
About Venus Protocol
Venus Protocol is an algorithmic-based, money market system designed to enable decentralized lending and borrowing on the Binance Smart Chain. Cryptocurrency holders can utilize their assets to supply collateral to the network, earning passive income through variable APY. Borrowers can access instant and low-cost loans in stablecoins without selling their non-stablecoin digital assets.
Venus uses collateral supplied to the market to borrow against crypto assets and mint synthetic stablecoins with over-collateralized positions, backed by a basket of cryptocurrencies, to protect the protocol. This ensures a secure credit environment where lenders receive a compounded interest rate annually, paid per block, while borrowers pay interest on the cryptocurrency borrowed.
Contact:
Dan Edelstein
[email protected]
bybit lucky
Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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