Venus Protocol Proposes Delving Into Real-World Assets

Supporting $VAI With RWA

‍Decentralized Finance (DeFi) lending platform Venus Protocol is considering the collateralization of its VAI stablecoin with $20 million in real-world assets (RWAs), via proposals from Credix Finance and Steakhouse Financial.

The proposal from Credix calls for establishing “a partnership whereby Venus will deploy $20 million in the Credix Liquidity Pool, a basket of senior-secured structured debt facilities issued to FinTech lenders in key Latin American markets with a targeted 12.0% APY.”

The primary markets targeted would be Brazil, Mexico, and Colombia.

A separate proposal from Steakhouse would have Venus engage Steakhouse as an advisor “in its pursuit of Real-World Assets (RWAs), built in a considered fashion that prioritizes compliance.”

Services Steakhouse could provide include setting up offshore structures for Venus in the Cayman Islands and British Virgin Islands, providing advice on RWA deals, facilitating community engagement, monitoring investments and providing on-chain and off-chain reporting.

A snapshot vote on the Steakhouse proposal passed unanimously.

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What Is Venus Protocol:

Venus Protocol is a decentralized marketplace for lenders and borrowers with borderless stablecoin. Venus is one of the largest algorithmic money market and synthetic stablecoin protocols on BNB Chain. The Binance-backed protocol became famous around DeFi following their hint of a massive incoming burn by founder Joselito and its Venus Reward Token VRT rewards for XVS token holders.

To learn more about Venus Protocol, see the following resources:

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