Display substrate and display panel

A display substrate, comprising a display region and a peripheral region surrounding the display region;

• wherein the display substrate comprises:
• a base substrate;
• a plurality of insulating layers sequentially arranged along a direction away from the base substrate;
• wherein each of the plurality of insulating layers is located in the display region and the peripheral region;
• and
• one or more protrusion structures between at least two adjacent ones of the plurality of insulating layers and in the peripheral region;
• wherein each of the one or more protrusion structures comprises a groove on a sidewall of the protrusion structure, recessed into the protrusion structure and extending along a circumference direction of the protrusion structure;
• each of the one or more protrusion structures comprises a first sub-structure, a second sub-structure, and a third sub-structure stacked along the direction away from the base substrate;
• and
• an orthographic projection of the second sub-structure on the base substrate is entirely inside an orthographic projection of the first sub-structure on the base substrate and is entirely inside an orthographic projection of the third sub-structure on the base substrate, so as to form the groove on the sidewall of the protrusion structure;
• wherein the first sub-structure, the second sub-structure and the third sub-structure each comprise a metal layer;
• the plurality of insulating layers comprise a planarization layer, which covers a surface of the third sub-structure away from the base substrate;
• and
• a part of the planarization layer is arranged between a surface of the first sub-structure away from the base substrate and a surface of the third sub-structure close to the base substrate to be in direct contact with a side surface of the second sub-structure along the circumference direction of the protrusion structure.