Venus Protocol, a leading decentralized lending platform with over $2.3 billion in total value locked (TVL), has introduced a proposal to integrate BNB into the Venus Prime market. BNB is the native coin of BNB Chain, one of the most widely adopted blockchain networks, and consistently ranks as a top-3 crypto asset by market capitalization globally.
What is Venus Prime?
Venus Prime is a specialized rewards program on Venus Protocol designed to engage users and support ecosystem growth. Users who stake at least 1,000 XVS — the native token of Venus Protocol — for 90 days become eligible to mint a Prime Token.
This non-transferable token unlocks enhanced benefits, including reduced borrowing rates and increased lending APRs on assets like USDT, USDC, BTC, and ETH.
Soon, BNB is expected to join the list of Prime-eligible assets, further expanding the program’s utility.
Enabling BNB on Venus Prime
The new proposal advocates for the inclusion of BNB — the native token of BNB Chain — as a Prime Market asset. Once approved, Prime users (who staked XVS) would receive boosted rewards for supplying and borrowing BNB, aligning incentives with BNB’s strong usage metrics and strategic importance.
Key benefits of this integration include:
- Attracting more BNB deposits to Venus
- Promoting deeper BNB liquidity
- Supporting long-term BNB holders through enhanced incentives
- Strengthening Prime’s appeal to a broader user base
The Importance of the BNB Market on Venus Protocol
BNB is one of the most supplied and borrowed assets on Venus Protocol, showing consistent growth in both usage and total value locked (TVL). This strong demand directly supports the case for BNB’s inclusion in Venus Prime.
In Q1 2024, BNB was the most borrowed asset on the platform by issuance volume, with over $629 million in BNB loans originated — a 110% quarter-over-quarter increase, surpassing even stablecoins in borrowing demand.
Beyond Venus-specific metrics, BNB as a cryptocurrency has powerful utility across the broader BNB Chain ecosystem, which also influences its usage on Venus.One of the most notable examples is Binance Launchpool events, where users need to lock BNB for short periods to participate. During these times, many users lacking enough BNB turn to Venus Protocol to borrow the asset.
For instance, on April 12, 2024, when a new Launchpool launched, BNB borrowing on Venus spiked from approximately 153,000 BNB to 925,000 BNB within hours — a 6x surge — which drove the borrow APY to nearly 60% annualized.
About Venus
Venus is a leading DeFi protocol for lending and borrowing crypto, with over $2.3 billion in TVL. It operates across multiple blockchains, including BNB Chain, Ethereum, opBNB, Arbitrum One, ZKSync, Optimism, Base, and Unichain. The platform offers a user-friendly and extensive suite of features for seamless interaction with a wide range of lending markets, with over 70 markets available, making it one of the most comprehensive lending platforms.
Venus stands out for its strong security standards, having undergone multiple audits by CertiK, PeckShield, and other trusted firms. With a security score of over 91 from CertiK, Venus ranks among the top ten lending and borrowing projects, ensuring the safety and reliability of its ecosystem.
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