There has been bad debt of 85m for 15 months

Question

Venus Protocol

Ungar

There has been bad debt of 85m for 15 months

now. What's the plan currently to pay that down?

#blockchain #cryptocurrency #english #venus

0

16.06.2022

7 ответов

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Ungar Автор вопроса

Dom | Venus 🇨🇿
It was answered many times mate team will use Risk...

To address. 1. They have been saying looking at other solutions for 12 months now so that's not really an answer. But to point 2. The risk model is based on revenue, so if we assume 1m in revenue for each month and the risk model is 20%,(assuming using 66% of risk funds to pay down) that means 200k per Month or 1.2m per year. At that rate it would take 80+ years to pay down the debt, assuming the price of btc doesnt go up since the debt is owed in btc and eth

0

16.06.2022

Dom | Venus 🇨🇿

Ungar
To address. 1. They have been saying looking at ot...

Yes but our revenue will very likely grow together with implementations of our new tokenomics models/new products like DEX etc as you can see we have also roughly 700k from liquidations in +- 14days now and ofcourse the team is currently working on better solution how to pay it off whole but similar deals takes time.. It's not that easy to ask someone for $80 or $100 million 😅

0

16.06.2022

Ungar Автор вопроса

Dom | Venus 🇨🇿
Yes but our revenue will very likely grow together...

It's been 12 months though and binance has a war chest of money. They would be the only real bailout to be honest as nobody wants that risk. Do you know why binance hasn't provided the money?

0

16.06.2022

Ungar Автор вопроса

Dom | Venus 🇨🇿
Yes but our revenue will very likely grow together...

To your second point, liquidations are rare maybe we can assume 2x a year. So that can't be the main source of revenue.

0

16.06.2022

Dom | Venus 🇨🇿

Ungar
It's been 12 months though and binance has a war c...

No i have no informations about Binance attitude to this situation

0

16.06.2022

Ungar Автор вопроса

Dom | Venus 🇨🇿
No i have no informations about Binance attitude t...

Can someone find out and report back?

0

16.06.2022

Dom | Venus 🇨🇿 · Accepted Answer

Dom | Venus 🇨🇿

It was answered many times mate team will use Risk Fund part of our last tokenomic model to partly repay this debt and also they are looking for another solutions how to deal with it faster 😉

0

16.06.2022

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There has been bad debt of 85m for 15 months

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