What is the bad debt of the Venus protocol?

Venus, a significant player in the decentralized finance (DeFi) space, is currently grappling with a substantial amount of bad debt within its protocol. This financial burden excludes the liabilities stemming from the BSC Token Hub attacker's actions.

Specifically, Venus has recorded approximately $83 million in bad debt, which is a concerning figure for the platform and its users. This amount underscores the challenges faced by DeFi protocols in managing risks and ensuring the safety of funds entrusted to them.

When combined with other debts accumulated by Venus, the total bad debt figure stands at an alarming $238 million. This substantial amount represents a significant portion of the total outstanding loan value on the Venus platform, underscoring the severity of the issue.

The existence of such a high level of bad debt not only threatens the financial stability of Venus but also casts doubts on the overall health and safety of the DeFi ecosystem. It highlights the need for more rigorous risk management practices and increased transparency within these decentralized platforms.

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