Governance Vote to Deploy Venus on Optimism

IconCryptoNewsTerminal Staff30 Aug, 2024

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Governance Vote to Deploy Venus on Optimism

Venus (XVS), a BNB Chain (BNB)-based crypto lending protocol, is undergoing a governance vote to deploy on Optimism (OP). The snapshot for the vote was taken on August 29th, and voting will close on August 31st (local time). If the proposal passes, Venus will become the first lending protocol to deploy on Optimism, a Layer 2 scaling solution for Ethereum. This would allow Venus users to access faster and cheaper transactions, while still benefiting from the security of the Ethereum network. The Venus community is currently discussing the proposal, with some members expressing concerns about the potential risks of deploying on a new platform. However, others argue that the benefits of deploying on Optimism outweigh the risks, and that it would be a major step forward for the Venus protocol. The outcome of the vote will be announced on September 1st, and if the proposal passes, Venus will begin the process of deploying on Optimism.

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