Venus Protocol Expands to ZKSync: A New Era of Decentralized Finance

Venus Protocol, a top 5 decentralized finance (DeFi) platform, just announced its strategic deployment on ZKsync, a cutting-edge Layer 2 rollup solution for Ethereum. This expansion marks a significant milestone in Venus Protocol’s mission to provide users with fast, cost-effective, and secure DeFi products.

The deployment on ZKsync will initially feature key markets, including WETH, WBTC, USDT, USDC.e, and ZK, allowing users to access a broad range of products with enhanced efficiency. Venus will be deploying more markets by the end of the year to ensure its users can have the full benefits of the deployment. By leveraging ZKsync’s robust infrastructure, Venus Protocol aims to deliver high-speed transactions with single-cent gas fees, without compromising on security and decentralization.

ZKsync’s ecosystem, boasting over $1B in Total Value Locked (TVL) and millions of active users, presents a unique opportunity for Venus Protocol to tap into a vibrant DeFi landscape. The deployment will also benefit from ZKsync’s native interoperability and EVM compatibility, ensuring seamless user experiences and broad blockchain connectivity.

Furthermore, shortly after the deployment, the Venus Prime incentive program will be available on ZKsync. This innovative program allows users to stake XVS and earn a soulbound Prime status, unlocking higher rewards across available pools.

“We are excited to bring Venus Protocol to ZKsync, a move that aligns with our vision of making DeFi accessible to everyone,” said Brad Harisson, Head of Venus Labs. “This deployment not only enhances our platform’s scalability but also strengthens our commitment to delivering top-tier products to our global community.”

Marco Cora, Director at the ZKsync Foundation commented on the news: “DeFi remains one of the core building blocks and use cases of any blockchain ecosystem. As one of the top 5 DeFi protocols, we’re excited about this deployment on ZKsync as it will provide the ecosystem with more liquidity and will offer users a highly efficient, fast and cost-effective new money market”

This deployment is also set to further cement Venus as a leading money market in the broader multichain DeFi ecosystem.

For more information, please visit Venus website or join the conversation on their Community.

Venus is a Top 5 lending protocol in the multichain DeFi space, currently deployed on Ethereum, BNB chain, opBNB and Arbitrum. Venus is the most audited DeFi protocol in the industry which makes users confident in the safety of their assets once they deposit on Venus. All decisions regarding Venus Protocol are made by Venus DAO, a fully-decentralized community governed by the $XVS native token. With the $XVS token, users also have access to Venus Prime, which ensures sustainable liquidity.

ZKsync uses state-of-the-art zero-knowledge (ZK) technology to scale Ethereum and bring cryptocurrencies into the mainstream: connecting millions of developers and billions of people who need technology solutions to progress and thrive. The ZKsync blockchain network is rooted in the mission of advancing human freedom and making digital self-ownership universally available. ZKsync is a trustless, secure, reliable, censorship-resistant, privacy-preserving, hyper-scalable, accessible blockchain network.

To learn more about ZKsync, visit website

The post Venus Protocol Expands to ZKSync: A New Era of Decentralized Finance appeared first on BeInCrypto.