Venus Protocol

First, thank you. This community is the reason Venus Protocol became the largest DeFi product on BSC, reaching a TVL of over one billion dollars. That milestone belongs to every lender, borrower, and liquidity provider who made this protocol what it is today.

We also need to be honest about the harder parts. The price of $XVS has not performed the way we hoped. Staking rewards have been disappointing. Much of this was driven by poor market conditions that affected the entire space, but that does not change the fact that many of you have lost value. We see that.

Because of these same market conditions, we have not been able to build enough volume to sustain the protocol at the level we originally envisioned. We are taking action to address both issues.

We are distributing community incentives as a direct thank you for your patience and as a step toward mitigating the losses you have experienced. And we are excited to introduce $VINU, the first meme token from Venus, launched as a gift to this community.