Venus Protocol, a leading lending platform in the multichain DeFi space, is excited to announce its upcoming deployment on Base Chain, a robust Ethereum Layer 2 solution developed by Coinbase.
This strategic move aims to leverage Base’s growing ecosystem, which has seen a remarkable increase in liquidity and user engagement.
Introduction to Base
Base is built on an Optimistic Rollup stack, offering rapid transaction speeds and low fees, making it an ideal environment for decentralized finance (DeFi). With nearly 2 million daily active addresses and a Total Value Locked (TVL) of $2.4 billion, Base serves as a gateway for new users entering the DeFi space through Coinbase’s centralized exchange.
Rationale for Deployment
The integration of Venus Protocol into the Base ecosystem is poised to deliver significant benefits:
- User Growth: Base’s close ties with Coinbase facilitate the onboarding of thousands of new DeFi users monthly.
- Market Opportunities: Venus will create lending markets for high-volume tokens, ensuring users have access to a diverse array of assets.
- Revenue Potential: The high user activity on Base translates into substantial revenue opportunities for Venus.
- Incentive Alignment: With anticipated Base incentives, Venus is well-positioned to capture a share of these rewards, benefiting both new and existing users.
Proposed Assets for Deployment
Venus plans to support a variety of assets on Base, including:
- ETH
- USDC
- cbBTC
- cbETH
- wstETH
- ezETH
- AERO
- weETH
- WBTC
- Brett
Why Base?
AlphaGrowth, a DAO service provider specializing in DeFi growth, sees the Base deployment as a pivotal opportunity for expanding the Venus ecosystem. With a commitment to decentralization and innovation, AlphaGrowth aims
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