Vesta Empire’s first product is finally here. Our DAO’s borrowing and stablecoin minting protocol will go online Feb 8, 2022 at 9PM PST. We appreciate all the community’s support thus far and are excited to bring a best-in-class borrowing and stablecoin experience for the Ethereum and Arbitrum communities.
Lending Parameters
Users will be able to collateralize Ether, renBTC, and gOHM to mint VST. Below you will find the relevant minimal collateralization ratios and fees for each collateral type.
For more context on the terms mentioned in the above table, please visit our glossary at this link.
Please note that the redemption of VST for collateral is not enabled for the first 13 days from protocol launch.
Liquidity Incentive Program
Users will be able to receive VSTA incentives on Arbitrum through three major venues: the stability pools of the lending protocol, VSTA-ETH pool on Balancer and VST-FRAX pool on Curve. We’ve taken the approach of determining how much VSTA should be emitted based on specific TVL targets.
Doing so enables our users to achieve a healthy return on their assets while minimizing mercenary capital and optimizing for steady growth in the protocol’s size.
Stability Pools of Vesta
To ensure the health of the protocol, we have allocated VSTA rewards toward those who deposit into the stability pools. The stability pools ensure immediate liquidation of underwater vaults, securing the protocol. To learn more, please visit this link.
We have modeled the VSTA rewards based on the expected TVL of each collateral system. For the first week, we are allocating 8000, 800, 2050 VSTA toward the ETH, renBTC, and gOHM pools respectively, targeting Stability Pool to Debt Coverage Ratio of 35% for ETH, 35% for renBTC, and 50% for gOHM. We will also adjust the VSTA rewards on a daily basis to ensure healthy ratios.
VSTA-ETH on Balancer (link to pool)
Our governance token’s Pool 2 program will launch on Feb 8, 2022 at 9PM PST. For the first five days, we plan on issuing 32k VSTA to Balancer LP token stakers to quickly deepen the depth of our governance token liquidity pool.
For the rest of the month, we plan on decreasing emissions to allow stakers to enjoy a high yield but to also minimize inflation.
Please note that we will also seed up to $2.5m of our own liquidity from the treasury. We will not stake the LP token to dilute our community.
BalancerDAO is also working on distributing BAL incentives to VSTA-ETH depositors but this will come next week at the earliest.
VST-FRAX on Curve (link to pool)
To incentivize deep liquidity for our stablecoin, we have partnered with Frax to co-incentivize the liquidity pool.
The pool will launch with VSTA incentives alone on Feb 8, 2022 at 9PM PST, starting off with 22k VSTA for the first week. Once incentives from Frax in the form of FXS and eventually Curve in the form of CRV start coming into play, we will balance our emissions accordingly to target steady and consistent growth in VST supply and utility.
Whitelist Unlock
As previously announced, half of VSTA from the whitelist event will be immediately claimable around time of protocol launch and the other half will be vested over two years with a six-month cliff.
The initial unlock is set for Feb 9, 2022 at 7AM PST. We have purposely spaced out the start of pool 2 and the start of the whitelist claiming to ensure a deeper liquidity pool, minimizing price impact.
Lots More to Come
We have a lot more information in store for you vestals coming in the following 24 hours.
Shortly after protocol launch, we will disclose what our research and technical team have been working on. To give you a sneak peek of our roadmap, expect a bit more context on our “venomics”, permissionless pool creation, and partnerships for VST integration on Arbitrum and beyond.
Our core contributors are also hard at work putting together a grants council to incentivize members of our community who want to flex their technical, design, and marketing talent beyond Discord and Twitter.
Stay tuned to our social media channels. There’s more to come.
Ave Vesta!
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General Disclaimer
You are not claiming or receiving any governance tokens for a speculative purpose and do not have any intent of acquiring $VSTA tokens as an investment or with the aim of making a profit and will have no expectation of profit from governance participation or from acquisition of governance tokens. You understand that $VSTA tokens have no intrinsic value and are solely tools of governance, and as such have no intrinsic potential for future appreciation in any form whatsoever. You further represent and warrant that you are an active user of blockchain technology and blockchain-based software systems. If you intend to acquire or have acquired any preexisting rights to any governance tokens pursuant to the announcement or resultant of a prior bootstrapping event, you are or have done so only to participate in the Vesta governance experiment and to participate in Vesta governance-related decisions;
The information provided within this article is for general informational purposes only pertaining to the governance tool, VSTA and is not a formal offer to sell or a solicitation of an offer to buy any securities. Information contained in this article should not be relied upon as advice to buy or sell or hold any such securities or as an offer to sell such securities.
You understand that the Vesta Finance governance structure is an experiment in the field of decentralization and community governed structures, in which participation via the VSTA token and otherwise is entirely at your own risk;
Information contained in this announcement should not be relied upon as advice to buy or sell or hold the aforementioned governance tokens and particular note should be made as referenced prior to the solely governance based nature of the $VSTA token and their lack of intrinsic ownership or economic value. This announcement does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Vesta Finance and its associated parties as appropriate make no representation or warranties, expressed or implied, as to the accuracy of such information and Vesta Finance expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Vesta Finance reserves the right to amend or replace the information contained herein, in part or in entirety, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this announcement supersedes any prior representation, post or conversation whether informal or formal, concerning the same, similar or related information.
You make active representations that participating in the Vesta bootstrapping event is not prohibited under the laws of your jurisdiction or under the laws of any other jurisdiction to which you may be subject and you are and will continue to be in full compliance with applicable laws (including, but not limited to, in compliance with any tax or disclosure obligations to which you may be subject in any applicable jurisdiction) and you understand that certain jurisdictions have been prohibited from participating in the aforementioned.
