This Week: Vesper Launches First Rebasing Pool
Also: Earn double-digit APY with your FRAX
Make Your stETH Work Harder
Vesper’s newest pool, Lido stETH, is now available on the main app. Holders of stETH can now earn additional APY from our yield-generating strategies in addition to the base 4% APY carried in the stETH token itself.
Our stETH pool currently sends assets to Aave to take out stablecoin loans, which are routed back through Vesper pools. In the future, this pool will also support Maker and Euler strategies.
Unlike the LP yield opportunities for stETH, Vesper’s pools do not expose the underlying stETH to impermanent losses, enabling users to stack more stETH at a discount when the token trades below peg.
Pitching Frax
Similarly to the past several weeks, Vesper is pitching another 1,000 VSP to FXS voters through Pitch. Through our pitching, we’ve more-than-tripled our weight in the Frax FXS gauge, with ~1.2% of all FXS emissions allocated to our Vesper FRAX Grow pool.
Users can deposit FRAX to Vesper and then stake on Convex to earn 2x boosted FXS + VSP in addition to their base FRAX APY. Currently, depositors using this strategy earn an impressive 14%+ total APY. This makes Vesper among the best stablecoin yield opportunities throughout the entire Convex ecosystem.
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