Venus Protocol, a decentralised finance (DeFi) platform, is expected to see significant growth in the next few years according to price prediction for 2024. A key factor contributing to this growth is the Vai Stablecoin. The Protocol is considering the integration of
real-world assets into its operations, diversifying its digital focus. Despite rumors of an exploit, Venus Protocol has debunked these allegations, maintaining the platform's integrity.
A $270K hole from an oracle incident has been patched and the Protocol continues to implement counter-measures for potential future issues. A Binance Coin (BNB) chain exploiter was liquidated for $30 million on Venus Protocol, resulting in the hacker losing $63 million due to a wave of crypto liquidations.
Further, the Venus Protocol plans to accept
Floki tokens as lending collateral. Worryingly, there is a possible liquidation of the BNB Chain's Venus Protocol’s $150M position. A resurgence in the demand for
XVS tokens has been noted, with strategies advising on the most effective ways to borrow on Venus Protocol.
In detail, an attacker was able to exploit LUNA's price feed discrepancy, causing significant losses among several DeFi protocols. Despite this, the XVS cryptocurrency continues to perform strongly thanks to a
massive token burn. A notable development is the manual liquidation of a hacker behind a $570,000,000 exploit, by BNB Chain Protocol, for $52,300,000.
The Venus Protocol has faced a dip due to a false report of a hack attack. More positively, the protocol is launching 'Mission to Venus', a campaign promising extra APY & revenue share for XVS holders.
Venus Coin News Analytics from Mon, 03 Feb 2014 08:00:00 GMT to Fri, 05 Jul 2024 07:00:00 GMT -
Rating 3
- Innovation 5
- Information 0
- Rumor 1
