Vesper Finance Launches Liquidity Pools, Governance Token

Key Takeaways

• Vesper’s product generates yield by deploying pooled liquidity to various DeFi protocols. It’s just gone live.
• During the beta period, 700 users allocated their assets to the liquidity pools and contributed to $25 million in total value locked.  
• The team also launched the VSP token, which will incentivize participation and enable governance over the project. 

Burgeoning DeFi project Vesper Finance has come out of its beta release and rolled out its platform for earning yield. Vesper applies DeFi strategies on pooled funds and deploys them to earn interest across different protocols.

Vesper Liquidity Pools Go Live

Vesper Finance’s core product, Grow Pools, has gone live after a month-long beta period. Grow Pools generates yield by deploying pooled liquidity to DeFi protocols like Aave and Compound. 

During the beta period, which ran from Dec. 22 and Feb. 16, the team said that more than 700 users allocated their assets to the liquidity pools and contributed $25 million in total value locked. 

Initially, Vesper launches with three pools, which each feature ETH, wBTC, and USDC. More asset pools will be added at a later date.  

Vesper’s decentralized pools will algorithmically update and apply modular strategies to improve Annual Percentage Yield (APY) continually.

Another product the team is working on is Vesper Earn Pools, which will allow users to deposit one token and earn another different token.

For example, users could deposit ETH, and then the Vesper generates yield and pays returns in USD, rather than ETH itself.

This is a unique yield-bearing strategy that’s relatively uncommon in DeFi today.

Vesper is a spin-out from Bloq, a blockchain infrastructure firm that was founded in 2016. Co-founded by was early Bitcoin developers Jeff Garzik, the project aims to reduce the complexity of investing in DeFi.

The goal is to reduce the barrier of entry for users by bringing a more friendly experience when it comes to yield generation.

Other special features include the implementation of EIP-2612 across all platform tokens. This effectively enables off-chain signature approvals.

The team has also launched the VSP token, will incentivize participation and enable governance for the project. The launch comes with rewards for initial liquidity providers alongside an airdrop for beta participants.

The fees earned by the platform will go to a treasury box that will automatically buy back (VSP) at spot prices. That revenue will then be shared with VSP token holders who have staked their tokens. 

Disclosure: The author did not hold crypto mentioned in this article at the time of press.

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