Vesta Finance says “WAGMI”: low gas, interest-free borrowing for everyone, powered by Arbitrum on Prime Launch
Olympus-incubated Vesta Finance to use Prime Launch for their treasury bootstrapping event on Arbitrum on Monday, January 31st, 2022
As DeFi and NFTs gain mass adoption and continue to go mainstream, scalability, and gas fees have been a constant pain. It’s hard for all of us to make it when the gas fees are “too damn high”.
Enter Vesta Finance
With Vesta’s protocol, a token holder can:
- Get interest-free loans against their renBTC, ETH, and gOHM, with an unbeatable low minimum collateral requirement (up to 110% minimum collateralization on ETH at zero-interest-rate)
- Deposit $VST into stability pools, which can be used to instantly liquidate under-collateralized vaults, which in time can prove to be a better liquidation mechanism, and change the whole borrowing market. It can then share fees of liquidated assets to bring a source of revenue to the protocol and its token holders
- Get competitive fees, making it more price-efficient to take out loans on small bags, as Vesta is launching on Arbitrum. Wagmi ✊
Arbitrum is the most Ethereum Virtual Machine (EVM) compatible layer 2 as of today. This makes it trivial for developers to migrate existing Ethereum applications to rollups because they don’t have to rewrite the code.
Prime Launch: Now with Arbitrum Included
Vesta is conducting a treasury bootstrapping event (TBE) distributing 8% of all the $VSTA governance token via liquidity bootstrapping pool (LBP) on Prime Launch. Prime Launch is the only low-code launchpad that makes it easy to launch a token on Arbitrum.
Liquidity generated in this event will be owned by the community and directed to bolstering the adoption of Vesta’s stablecoin once it goes live through the acquisition of governance tokens, partnerships, and supporting Vesta’s growing team of core contributors.
Vesta will be using Prime Liquid Launch. The mechanism helps early-stage projects build deep liquidity when releasing their project token with minimal upfront capital. By leveraging Balancer Protocol v2.0’s liquidity bootstrapping pool mechanism, Liquid Launch helps eliminate the possibilities of price swings targeted by automated trading bots to ensure fair token prices.
We’re super excited that an important utility in the DeFi space has chosen Prime for its crucial treasury bootstrapping event, and we’re even more excited to be working with our partners, OlympusDAO, on ensuring Vesta’s success. Onward!
How to get involved with the Vesta Liquid Launch
- Participate in the Vesta treasury bootstrapping event here on Prime Launch. The Vesta Launch will appear when we finalize the details of the launch with the Vesta team 💪
- Sign up here for the upcoming Olympus-Vesta AMA in the Olympus Discord!
- Learn more about Vesta, and how Vesta works.
- If you need extra support, here’s is a guide on how to participate in a LBP
Vesta Liquid Launch Details
- Network: Arbitrum
- Project Token: $VSTA
- Vesta Tokens 8,000,000 (8% of the supply)
- Funding Tokens: 1M
- Start Date: Monday January 31st, 12:00 PST, 15:00 EST, 21 CET (Team based on PST)
- End Date: February 3rd, 12:00 PST, 15:00 EST, 21CET (Team based on PST)
We’ve never been more confident that DAO2DAO interactions will drive the future of crypto networks. It has never been a more exciting point to get involved in Prime and reshape DAO coordination.
If you are committed to enabling DAO 2 DAO innovation and are interested in collaborating with or getting involved in Prime, jump into our Discord now, and let’s get connected!