$USDC USDC Venus platform becomes a BNB burn 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 offers quarterly burns of the BNB token, the native token of the Binance BNB network and one of the top 3 cryptocurrencies by market value.

What is Venus After Burn?

Venus After Burn is a burn 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 approximately 9,900 BNB (around $6 million).