A List of Ideas That I Believe Could Make Venom A Top Blockchain

In this post I will be listing a few of my personal opinions on what I believe the venom foundation can do to push venom to becoming one of the best blockchains in the world. I would like to state again these lists of suggestions are just my persona opinions that I wish to share and anyone can feel free to agree or disagree in a respectful manor. The suggestions I am about to list are all important and their importance level are not based on the order I am suggesting them

#1 – Partner with stablecoin companies to offer onchain stable coin minting.

It is entirely possible to bridge stablecoins from blockchains like Ethereum, Binance Smartchan, Tron, etc… However, having the ability for a user to mint a stablecoin on the venom blockchain via a wire transfer from their bank I think is also important. For example, with USDT, a user would first need to wire funds from their bank to a blockchain Tether supports and then bridge it over to venom. They could buy it from an exchange and then bridge, but having the ability to wire via your bank usdt and have it directly deposits into your venom wallet on the venom blockchain skips a lot of unnecessary steps and makes it easier to do. It also provides a certain level of security from bridge hacks. I recommend Venom partner with the top stablecoin companies such as USDC, USDT, and TUSD to offer onchain minting of stablecoins. I believe the easiest company to initially partner with will be TUSD / TrueUSD as they are always open for partnerships. They also offer multiple fiat stablecoins other than USD. You can contact the TUSD team through a form down below to form a partnership to have on chain minting of stablecoins for venom day one of mainnet.

#2 – Partner with WanChain Bridge

Most bridges in the cryptocurrency space focus on bridging EVM chains together, but do not have the capabilities of bridging chains that are non-evm (such as bridging bitcoin directly from the bitcoin network to Ethereum or Cardano to Ethereum). WanChain bridge has the functionality to bridge non-evm coins to evm chains or even a non-even asset to another non – evm chain. As long as your chain has smart contracts they could bridge assets together. It works by sending the coin to a destination address > locking the coin > minting it on the venom chain > and when a user wants to redeem the coin they can use the bridge in reverse to redeem to locked coin in the bridge. This is very useful because we want coins such as Bitcoin, Cardano, XRP, Dogecoin, Litecoin, Tron, etc… on Venom blockchain to be traded on dexs as well as have yield farming pairs for these coins. Wanchain bridge is also very decentralized and it works almost like a blockchain itself as it has storeman nodes that need to lock up wan tokens to validate bridge transactions. Wanchain bridge has never been hacked to this day. I will leave a lot of useful links about wanchain bridge down below. I will also leave some people who I think Venom team should contact for a partnership.

#3 – Become Compliant with Regulation Early

Venom foundation is licensed under Abu Dhabi Global Market (ADGM) framework, which is great to see the venom foundation seeking regulation in friendly countries early on. Most of us know that the chairman of the security exchange commission (Gary Gensler) is on a war path to establish dominance over the cryptocurrency space. Even before Gensler, the previous chairman of the SEC, Bill Hinman was also taking enforcement action on cryptocurrency projects. I actually agree with gary gensler with the notion that there is regulatory clarity in the USA regarding crypto. Its just that its not the answer most crypto companies want to hear. I think we should recap what we learned in the past couple of years in the saga of the SEC vs Crypto story. Let is kill two birds with one stone, as I believe my point with this will be the same. On October 11, 2019 the SEC sued Telegram over their unregistered sales of securities. Telegram fought the lawsuit in court, arguing that because their Ton Coin could be classified as a commodity, they therefore did not sale any securities and did not need to register with the SEC to sell these coins to the investing public. However, telegram ended up losing their lawsuit to the SEC, but I personally believe that this them losing the lawsuit did however provide some insight in the minds of judges when interpreting the law. The judge said and I quote “The court rejects telegram characterization of the reporting in this case. While helpful as a short hand reference, the security in this case is not simply the gram coin, which is little more than alphanumeric cryptographic sequence.” The judge in this case also put a block on investors from selling telegram coins on the open market, citing risks of harm to investors. What is very important in this case is the judge is essentially stating that it wasn’t necessarily the coin that was a security but it was the ico itself, the action of raising money from an ico to build a platform with investors having the expectation of profit from the work of a company = A security, not the coin. With the SEC vs LBRY case the ruling was basically the same, however, an interesting ruling by the judge came up where the SEC asked the judge to declare all secondary trading of LBRY coins on the open market illegal sales of securities. The judge essentially rejected the SEC request and if granted would send LBRY token to zero as most exchanges would delist it in fear of selling unregistered securities and being sued by the SEC. With the judge rejecting this motion, this essentially means that LBRY the company selling LBRY coins to investors = security, but tokens fairly trading on centralized exchanges = not a security. Since venom is going to be a fair launch coin and will not take money from USA investors in any ICO they do not have to worry about SEC enforcement. However, if the venom foundation ever wanted to legally conduct an ICO and include United States investors and not report to the SEC, they could easily do so through a Regulated D private placement sale. This would allow the Venom foundation to sell venom coins or any other coin and raise unlimited amount of capital through accredited investors. There is a SEC regulated crypto exchange called INX that offers users to sign up as accredited investors and allows companies to do legal ICOs on their platform. All links to sources I mention are down below.

#4 - Focus on Defi

The very great thing about the venom blockchain is how it is able to scale through sharding and retain very low transactions fees. This will make the venom blockchain a great place for DeFi to take place. After reading the fact that the venom foundation has a 1-BILLION-dollar grant program for developers this number kind of blew my mind. This is again where the opinion part of this thread comes in more. I believe venom should really take 700Million out of that 1 Billion and put it strictly into DeFi. In my opinion, DeFi is what really made Ethereum and Binance Smart Chain gain popularity. Venom will naturally have DeFi through validator staking, but I really mean through yield farming and a lending and borrowing protocol. If the Venom foundation put $500Million into yield farming reward token and make sure all farming pairs are with venom (like venom/btc , venom/eth, venom/usdt, etc…) this would literally be the biggest farm in all of crypto and defi. No other chain would be able to compete. There was a point where the pancakeswap token had 300Million in liquidity and this led the entire pancakeswap platform to have a TVL of over 30 billion and the token did not start with 300Million in lp, but people provided that much over time. If the venom farm token started off with 500 Million users may provide another 300Million = 700Million in liquidity. Everyone would bridge their assets over from every other chain to provide liquidity to the Venom coin. The pairs that should have the highest aprs are venom/any stablecoin. This would provide a lot of stablecoin liquidity to venom and with a lot of liquidity this would actually back up sell pressure from validators claiming and selling their staking rewards. This would also increase the value of the coins the venom foundation is holding in general. By including $100Million in a lending and borrowing protocol you would also ensure that your chain has the biggest lending and borrowing market in Defi and the last thing would be 100Million in a Dai fork (algorithmic stablecoin). I believe that in reality a 1 billion grant program is over kill and that 300Million would be sufficient a sufficient grant program. I read somewhere that the venom mainnet may do something like Ethereum or BSC where they burn transaction fees. I think instead of burning transaction fees you could re-direct the fees to buying the farm token.

#5 – NFT Idea

This is a pretty simple idea, but I believe the way you guys could reward early testnet testers who are collecting NFTS is by hosting a Venom conference or event 1 time a year and only allow those who have the collected venom NFTs to participate or have a high VIP access.

#6 - Have a fair launch on the chainge dex.

Chaigne is a like a dex where users can deposit native assets like bitcoin and swap for another blockchains native asset. You can also provide liquidity from one chain native asset and pair it with another chain native asset. It is like a Uniswap but with cross chain capabilities. As a USA citizen I fear that the venom coin maybe fair launch on an exchange I cannot use. With launching on the chainge app anyone can use it and its completely decentralized. Users will own their own private keys when trading and adding the liquidity on this dex would remove the risk of a cex getting hacked with majority of the venom coins on their. The team could also utilize chainge other features such as order books, leverage trading, etc… In a decentralized way. The team would also be able to lock or burn the lp for 100% on chain confidence.

Even if my ideas are rejected, it would be an honor if Peter Knez could give his opinion on my suggestions.

In advance, sorry for my horrible grammar :stuck_out_tongue:


As a new member I could only leave two links, so hard to leave sources. So I will try to leave the sources in reply posts down below.

More WanChain Contacts:

Email : [[email protected]]

Techsupport Email : [email protected]

Wanchain Dev: Telegram: Contact @lolieatapple

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SEC Stuff


Video Regarding Telegram Case : Court Rules Against Telegram In SEC Case - YouTube

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SEC Stuff 2

SEC Registered Exchange : https://www.inx.co/

Video Regarding LBRY Judge Ruling: XRP (and all of crypto) score MASSIVE LEGAL VICTORY in lawsuit. Will Coinbase list XRP and Vechain? - YouTube

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Hello MrWhale, Thank you for sharing your suggestions on how the Venom Foundation can push Venom to become one of the best blockchains. Will share this with the team to have a better look.

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