Venus Takes Charge of Group B in Battle of the Dapps

by BSC News

January 31, 2023


A recap of the second round in the latest iteration of Battle of the Dapps.

Powering into the Grand Finale

The Group B contest in Battle of the Dapps has come to a close, with Venus advancing to the grand finale after seeing off strong competition from Wombex and DeRace.

Venus earned their spot in the final, winning both the community vote by 46%, as well as one judge's vote for their experience and maturity in the industry with regard to longevity and community. The other judge's vote went to DeRace, leaving the score at 2-1 in favor of Venus.

If you're unfamiliar with the rules of Battle of the Dapps, check out this explainer article!

Here's how it all went down in Round 2.

Discussing Security

The first question from the host, Tom, centered on Security. Wombex representative Sami, who is the Co-Founder and Business Development Lead, spoke about how security is their number one priority and that they see it as an ongoing process, having done three security audits from Slowmist, Peckshield, and Zokyo. DeRace rep and CEO, Adomas discussed how they try to keep their smart contracts as small as possible besides the regular auditing in order to honeycomb things, their bug bounty program, and staff training to prepare themselves ahead of potential hacks. On the other hand, Patrick, who is the Product Marketing Manager at Venus, expressed how security comes at the forefront of what they do, being a major player on BNB Chain. "We have a lot of support as far as those who are willing to keep a strong eye on our systems to make sure everything is safe and secure", says Patrick.

Discussing Longevity

The second round of questions targeted Longevity. Wombex rep discussed how they had modeled their tokenomics based on what they see works, albeit the existence of critics of veTokenomics. Following up, DeRace took pride in its high level of transparency with the community and how they've focused on developing new features and expanding the platform. They have also prepared all the necessary materials to help standard non-blockchain users get into the project. Venus spoke about rolling out Venus Prime, a reward-based program, in a bid to incentivize users from moving liquidity to other platforms and increase demand.

Discussing Community

The last set of questions was about community. Wombex discussed how having a large veWOM position is critical to its plans to provide the best positive yield for liquidity providers and a share of protocol revenue. Wombex plans to continue to increase its veWOM position and maintain its lead. DeRace explained how they had created a ticketing system to help users submit concerns and feature requests, which the staff members regularly review. Finally, Venus representative spoke about how the Venus Ambassador Program has paid phenomenal dividends and brought users to the protocol. He also laid emphasis on the in-person events that helped put a face on the protocol over time.

Contestant Questions

This section saw the three competitors ask each other questions, touching on various challenges faced by the projects and the DeFi space in general. Check out the recording of the event to hear the full questions and responses from the projects!

BSC News would like to thank all three participants in Group B for their efforts and remind them that all participants contribute immensely to the growth of DeFi. BSC News would also like to thank the sponsor of Battle of the Dapps, Lend Finance, without whose support this event would not be possible.

Group C, comprised of Velvet Capital, NFTbMarket, and Cryptopolis will battle for the last spot in the grand finale on February 3 at 7 PM UTC. Follow the official BSC News Twitter account to receive updates on the event, and tune in to the official Twitter Space!