Incentivized Beta for New USDC Pool: What You Need to Know

It’s just like the incentivized beta from the original Vesper launch, but focused on the first multi-strategy pool.

Earlier this week, we announced to Vespernauts that there will be a new USDC pool — USDCv3 — coming to the VesperDev beta app. It will be the first to employ Vesper’s multi-strategy capability, which is expected to deliver higher yields by utilizing multiple yield sources.

This rollout will be approached as an incentivized beta. Here’s what the team anticipates.

May 24 — Incentivized beta rewards begin, with the exact time announced day-of. This will follow the same math as Vesper’s original launch: participants earn their pro rata share of the USDCv3 pool’s 50,000 VSP worth of incentives based on 1) the share of USDC they contribute and 2) the amount of time their USDC stays in the pool until beta ends.

June 1 — On this date, the original USDC pool’s withdraw fee will be set to zero-percent.

The team anticipates that some Vespernauts will want to grab the rewards early, while some may choose to delay migration until the withdraw fee goes to zero. Why do it this way? This helps ensure that funds move gradually from one pool to the other and do not create undue liquidity issues with the DeFi protocols that the original pool uses.

As always, developer discussions can take place in the Discord #dev-general channel while broader questions can go in #general or #product-feedback.

[2021–06–02: More explicitly called out the new USDC pool as “USDCv3.”]