Understanding the Proposal VIP-15: Quarterly Repurchase and Fund Allocation of XVS
According to reports, according to the loan agreement Venus Protocol announced on social media, the proposal VIP-15 for the quarterly repurchase and fund allocation of XVS has been
According to reports, according to the loan agreement Venus Protocol announced on social media, the proposal VIP-15 for the quarterly repurchase and fund allocation of XVS has been approved. According to the proposal, the total reserve revenue of Venus Protocol in the first quarter of 2023 is $1672206.28. According to the token economy model, 20% will be sent to Coin An for repurchase, which is $334441.26, and 80% will be sent to the agreement treasury, which is $1337765.02; In addition, the total clearing revenue for the first quarter of 2023 was $507951.00, with 26% to be sent to Coin An for repurchase, which is $132067.26 (in USDT form). Therefore, the total amount sent to Coin An for repurchase in the first quarter of 2023 is $466508.52.
Loan Agreement Venus Protocol Q1 Repurchase and Fund Allocation Proposal Passed
As announced on social media, Venus Protocol has approved the proposal VIP-15 for the quarterly repurchase and fund allocation of XVS. This proposal aims to enhance the Venus Protocol Community by offering quarterly repurchases and fund allocations of XVS.
What is Venus Protocol?
Before delving into the proposal VIP-15, let us first understand what Venus Protocol is. Venus Protocol is a decentralized finance (DeFi) platform built on the Binance Smart Chain (BSC). It offers an algorithmic money market and synthetic stablecoin generation services to users. It provides users with the opportunity to borrow, lend, trade, and earn interest on their digital assets. Venus Protocol is designed to provide a safe and accessible financial tool for everyone around the world.
The Proposal VIP-15: What is it?
As mentioned earlier, the proposal VIP-15 aims to offer quarterly repurchases and fund allocations of XVS. This proposal was created to improve the Venus Protocol Community and provide a steady flow of funds. The proposal entails that the total reserve revenue of Venus Protocol in the first quarter of 2023 is $1672206.28.
The Fund Allocation Plan
According to the token economy model, 20% of the reserve revenue, which is $334441.26, will be sent to Coin An for repurchase. Meanwhile, 80% of the reserve revenue, which is $1337765.02, will be sent to the agreement treasury.
Additionally, the total clearing revenue for the first quarter of 2023 was $507951.00. Of this amount, 26% will be sent to Coin An for repurchase. In the USDT format, this repurchase amounts to $132067.26.
In summary, the total amount sent to Coin An for repurchase in the first quarter of 2023 is $466508.52.
The Impact of Proposal VIP-15
As Venus Protocol moves forward with the implementation of the proposal VIP-15, the Venus Protocol Community will benefit from the repurchase and fund allocation plans. The steady flow of funds will ensure that the ecosystem remains stable and sustainable.
Moreover, the proposal VIP-15 showcases Venus Protocol’s commitment to providing financial products and services that meet the needs of its users. Venus Protocol offers an innovative platform that provides access to traditional financial instruments in a decentralized and trustless environment.
Conclusion
Venus Protocol’s proposal VIP-15 is a strategic move for the platform to enhance its ecosystem and provide its users with a sustainable and stable financial tool. Venus Protocol is a platform that offers its users valuable financial products and services, and the implementation of proposal VIP-15 is a testament to its commitment to providing a safe and accessible financial tool.
FAQs
Q1. What is Venus Protocol?
Venus Protocol is a decentralized finance (DeFi) platform built on the Binance Smart Chain (BSC) that offers an algorithmic money market and synthetic stablecoin generation services to users.
Q2. What is proposal VIP-15?
Proposal VIP-15 is a plan for quarterly repurchases and fund allocations of XVS aimed to improve the Venus Protocol Community by providing a steady flow of funds.
Q3. What is the impact of proposal VIP-15 on the Venus Protocol Community?
The repurchase and fund allocation plans ensure that the ecosystem remains stable and sustainable, thereby benefiting the Venus Protocol Community.
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