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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.