Bitcoin24h $113,298.41-2.09%

Ethereum24h $3,493.22-5.44%

XRP24h $2.96-2.04%

BNB24h $757.06-3.35%

Solana24h $162.83-5.42%

TRON24h $0.3233-0.47%

Dogecoin24h $0.2011-4.16%

Cardano24h $0.7148-3.33%

Hyperliquid24h $37.63-7.86%

Sui24h $3.46-4.21%

Opaque DeFi protocol Venus braces for $150M BNB liquidation

DeFi lender Venus has a plan for a potential major liquidation of BNB made by hackers last year… but dodgy finances plague the protocol.

Community questions opaque finances at BNB Chain protocol Venus

Once-multi-billion dollar DeFi money market, Venus (XVS), operates one of Binance Smart Chain’s most opaque book of finances.

80% of funds have been drained from LaunchZone’s liquidity pool, resulting in its native token LZ plummeting in value.

Despite community concerns, a vote to deploy Uniswap v3 on BNB Chain has passed with over 80% of the vote.