Venus Protocol Unveils Expansion to ZKSync for Enhanced DeFi Offerings

Tuesday, 17 September 2024, 05:01

Venus Protocol is making significant strides by expanding to ZKSync, a state-of-the-art Layer 2 solution. This pivotal move empowers the DeFi ecosystem, offering users swift transactions. The deployment features major assets, enhancing access to efficient markets. As Venus Protocol rolls out new offerings, users can look forward to improved rewards and robust network benefits.
Beincrypto
Venus Protocol Unveils Expansion to ZKSync for Enhanced DeFi Offerings

Introduction to Venus Protocol's ZKSync Expansion

Venus Protocol, a top 5 decentralized finance (DeFi) platform, recently announced its strategic deployment on ZKsync, a cutting-edge Layer 2 rollup solution for Ethereum. This expansion marks a significant milestone in Venus Protocol's mission to provide users with fast, cost-effective, and secure DeFi products.

Key Features of the Deployment

  • Initial Markets: The deployment on ZKsync will initially feature key markets, including WETH, WBTC, USDT, USDC.e, and ZK.
  • Future Market Expansion: Venus plans to deploy more markets by the end of the year, enabling users to fully exploit the new capabilities.
  • Transaction Efficiency: By leveraging ZKsync's robust infrastructure, users can expect high-speed transactions with single-cent gas fees, maintaining a focus on security and decentralization.

Benefits of Joining the ZKSync Ecosystem

ZKsync's ecosystem, boasting over $1B in Total Value Locked (TVL) and millions of active users, presents a unique opportunity for Venus Protocol to tap into a vibrant DeFi landscape. Users will also benefit from ZKsync's native interoperability and EVM compatibility.

Incentive Programs for Users

Shortly after the deployment, the Venus Prime incentive program will be available on ZKsync. This innovative program allows users to stake XVS and earn a soulbound Prime status, unlocking higher rewards across available pools.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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