Loopring AMA Series: Vesper Finance
We’re happy to present the 2nd edition of our new AMA Series, where we take a look into some our new and ongoing Partners who have helped us bootstrap the Loopring Layer 2 ecosystem.
The following is an AMA with the Vesper Finance team — conducted over a week on Reddit, with questions sourced from both Reddit +Discord.
Vesper provides a suite of yield-generating products, focused on accessibility, optimization, and longevity.
You may have already noticed Vesper (VSP) as part of our Liquidity Mining programs in the AMM + orderbooks. These programs will be ongoing and a way of distributing their token to a wider audience!
To participate in future AMAs, please check out our official Reddit +Discord and stay tuned.
How does Vesper position itself vs. other yield aggregator protocols?
Vesper :
At the highest level, we are bringing a greater level of professionalism into the DeFi category without sacrificing the energy that got DeFi to where it is. Some early evidence of this (we launched fewer than three months ago) comes in the form of our community-approved collaboration with Blockforce Capital — a hedge fund where Blockforce’s accredited-investor clients get access to DeFi and the Vesper community gets 25% of the fund’s net management fees.
Is it possible to integrate your vETH pool directly onto Loopring L2? I would put my ETH into this if it was an option on Loopring?
Vesper :
Short answer? We’d love for Loopring and other L2s to integrate with our vETH pool. Probably the best place to pursue this is by going to the #dev-general channel in Discord. (https://discord.gg/jMXZ6dnERe)
Is there counterparty risk or other risks associated with any of your pools?
Vesper :
Such risks are essentially the same as any DeFi project. Grow pools that interface with loans are at risk in the event of a so-called black swan event (when a pool asset sees a flash crash in a short amount of time). Conservative pools use higher collateralization ratios and are therefore less vulnerable to such a risk — but not completely immune.
Additionally, Grow pool strategies are only as safe as the platforms they interact with. Conservative pools only interact with blue-chip DeFi protocols like Maker, Aave, and Compound, but future higher-risk pools may interface with newer and less established alternatives.
$1B in TVL one month after launch was quite an impressive feat. What were some things you got right to help achieve such explosive growth right from the start?
Vesper :
1 — An initial rollout with audited pools and strategies with a long incentivized beta period (from December 22, 2020 — February 7, 2021)
2 — A simple and user-friendly UI
3 — Strong awareness through early participation in high-level events, including CoinDesk:Invest and OECD’s Blockchain Summit (alongside Compound and Maker).
4 — A team comprising experts in their respective disciplines.
About Loopring
Loopring is an Ethereum zkRollup protocol for scalable, secure exchanges & payments. Loopring builds non-custodial, high-performance products atop our Layer-2, including the Loopring Wallet — a mobile Ethereum smart wallet, and the Loopring Exchange — an L2 orderbook and AMM DEX. To learn more, you can sign up for our Quarterly Update or see Loopring.org.
Twitter ⭑ Discord ⭑ Forum ⭑ Reddit ⭑ GitHub ⭑ Docs ⭑ YouTube ⭑ Weibo
