Venus Protocol, one of the Top 5 decentralized finance (DeFi) lending platforms, today announced it has been approved for a grant from the Arbitrum Foundation.

This grant comes on the heels of Venus Protocol’s successful deployment on the Arbitrum network earlier this year and underscores the platform’s commitment to expanding its services within the Arbitrum ecosystem.

The grant, structured around three key verticals, is designed to support Venus Protocol’s ambitious growth plans on Arbitrum network, including the deployment of new markets, the introduction of Venus Prime, and the achievement of substantial user adoption and Total Value Locked (TVL) targets.

“We are thrilled to receive this grant from the Arbitrum Foundation,” said Danny Cooper, Leading the Venus Vanguard Team. “This support not only validates our vision for DeFi on Arbitrum but also provides us with the resources to accelerate our development and user acquisition strategies on this promising Layer 2 solution.”

Progress towards these verticals will be transparently tracked through a custom Dune Analytics dashboard, ensuring accountability and allowing the community to follow Venus Protocol’s growth on Arbitrum.