BSC's Venus Protocol Left With Bad Debt After Liquidations
Binance Smart Chain’s most popular lending protocol, Venus, experienced a massive string of market liquidations totaling over $200M on May 18, and Venus, itself, has been left with $100M in bad debt because of it. The liquidations were primarily caused by the massive price swing of Venus’ governance token, XVS. The token jumped 88% from…
By: Dan Kahan •
DeFiBinance Smart Chain’s most popular lending protocol, Venus, experienced a massive string of market liquidations totaling over $200M on May 18, and Venus, itself, has been left with $100M in bad debt because of it. The liquidations were primarily caused by the massive price swing of Venus’ governance token, XVS. The token jumped 88% from…
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