The decentralized lending protocol Venus has regained its place at the top of the weekly BNB Chain transaction volume ranking. On March 15, it was reported by Dapp.com that $1.48 billion in total trade volume was accumulated by Venus within seven days. The second-placed protocol, at the time, came in at around $130 million.
On the list of BNB Chain leaders, PancakeSwap and Alpaca Finance come in 2nd and 3rd, which is a significant achievement. It would appear that despite the difficulties faced in 2021 due to an exploit, Venus Protocol has regained the trust and support of its investors.
The 7 day transaction volume top BNB Chain DApps came in the following order:
- $XVS @VenusProtocol
- $CAKE @PancakeSwap
- $ALPACA @AlpacaFinance
- $BSW @Biswap_Dex
- $MDX @Mdextech
- $ACSI @acryptosdao
- $BANANA @ape_swap
- $EPS @Ellipsisfi
- $1INCH @1inch
The exploit that occurred in May of 2021 plummeted the Venus XVS Token from $146.82 (all-time high) to $32.59. Unfortunately, as the prices decreased, so did the users’ confidence in the Venus community. The XVS Token is currently at a lower cost of $8.3, indicating a 94% drop from the all-time high.
However, during a Livestream with BSC News, Venus revealed that they are attempting to revitalize the XVS token by onboarding a new team. Additionally, Venus held a logo and brand design competition to freshen things up and launched a community survey to be implemented in 2022.
More About Venus Protocol
Venus Protocol is a decentralized landing system constructed on the Binance Smart Chain, serving as a marketplace for lenders and borrowers with borderless stablecoin. Of all the protocols on the BNB Chain, Venus is one of the largest.