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]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113279
Blockchain
Ebang International Reports Financial Results for Fiscal Year 2023
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
The post FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers appeared first on HIPTHER Alerts.
Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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