$USDC Venus Platform Becomes a BNB Burning Tool: What Does This Mean for the Currency and XSV

Venus, the leading decentralized lending protocol with over $2.3 billion in total value locked (TVL), is launching a mechanism to enhance deflation on the BNB network — "Venus After Burn". This initiative provides quarterly burn operations for the BNB token, the native token of the BNB network under Binance, and one of the top 3 cryptocurrencies by market value.

What is Venus After Burn?

Venus After Burn is a burning mechanism for the native BNB token, where 25% of the revenues from the Venus protocol on the BNB network — which were previously allocated to the treasury — are used for quarterly burns of the token. Based on 2024 figures, this is expected to reach around 9,900 BNB (approximately 6 million dollars).