The post Venus Protocol Secures Significant ARB Grant from Arbitrum Foundation appeared on BitcoinEthereumNews.com.

Editorial Note: The following content does not reflect the views or opinions of BeInCrypto. It is provided for informational purposes only and should not be interpreted as financial advice. Please conduct your own research before making any investment decisions. Venus Protocol, one of the Top 5 decentralized finance (DeFi) lending platforms, today announced it has been approved for a grant from the Arbitrum Foundation. This grant comes on the heels of Venus Protocol’s successful deployment on the Arbitrum network earlier this year and underscores the platform’s commitment to expanding its services within the Arbitrum ecosystem. The grant, structured around three key verticals, is designed to support Venus Protocol’s ambitious growth plans on Arbitrum network, including the deployment of new markets, the introduction of Venus Prime, and the achievement of substantial user adoption and Total Value Locked (TVL) targets. “We are thrilled to receive this grant from the Arbitrum Foundation,” said Danny Cooper, Leading the Venus Vanguard Team. “This support not only validates our vision for DeFi on Arbitrum but also provides us with the resources to accelerate our development and user acquisition strategies on this promising Layer 2 solution.” Progress towards these verticals will be transparently tracked through a custom Dune Analytics dashboard, ensuring accountability and allowing the community to follow Venus Protocol’s growth on Arbitrum. “This grant from the Arbitrum Foundation is a testament to the potential of Venus Protocol on Arbitrum,” added Brad Harisson. “We’re excited to bring innovative DeFi products like ETH Looping and support for LSTs and LRTs to Arbitrum users, further enriching the ecosystem and providing more opportunities for users to engage with decentralized finance.” Venus is already hard at work, with plans to launch the ETH Looping pool and new markets for stETH and eETH in the coming weeks. The highly anticipated Venus Prime…

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Filed under: News - @ November 2, 2024 9:24 am