Metronome + Vesper = Gateway to Synthetic Assets
Deploying Metronome as a synthetics platform delivers numerous advantages for Vesper
Metronome Synth, a sister project to Vesper, has just launched its beta. Metronome is a multi-collateral Synthetics protocol that will natively support productive Vesper positions as collateral, offering a more capital-efficient take on synthetics at large.
Metronome, an earlier project from the Bloq DeFi team, is a DeFi ecosystem set to enhance the power of DeFi, starting with their first synthetic protocol, Synth. Synth will provide users with a wide range of opportunities to farm and trade across assets they already know and love. Learn more about Synth beta.
At every turn, Metronome users will have the opportunity to interface with Vesper simultaneously. The Bloq DeFi team believes this buildout to be an ambitious, innovative, and essential collaboration, with both projects supercharged through one another.
Read on for more about the advantage Synth holds for both Vesper and Metronome users.
Synth for Vesper Users
At launch, Vesper users can post their existing Vesper positions (vaETH, vaUSDC, and vaFRAX) as collateral assets on Metronome Synth to mint the synthetic assets. This enables Vesper users to partake in directional trading, zero-slippage synthetic swaps, and gain access to previously non-accessible tokens (such as non-EVM tokens). Additionally, Vesper users can perform heightened yield farming strategies by deploying synthetic assets to earn yield through LPing or otherwise.
Further, Vesper users will be able to take on these activities without changing their existing Vesper exposure.
Synth will be a highly advanced synthetics protocol that will enable superior capital efficiency through the relationship Vesper plays in collateralizing positions. Additionally, Vesper is not obligated to incentivize this TVL or provide VSP emissions toward LP.
What’s Next for Vesper
The Vesper team remains focused as the best DeFi middleware yield engine. This means more strategies, assets, networks, and yield. Our upcoming developments include:
Recent strategies back from audit are being actively ramped up:
- Compound v3 borrow USDC
- Euler (Deposit, Borrow)
- Stargate LP
Support for more productive assets, including:
- Liquid Staking Derivatives beyond stETH, such as Rocket Pool’s rETH
- Already-productive assets like LP positions and governance tokens
- Vesper deployment to BNB Chain. Beta has already kicked off.
- Finalization of Vesper lockup scheme. Engineering is working through the final quirks regarding how locked positions participate in governance.
Additionally, the potential TVL gain from Metronome Synth will drive multiplied revenue back through Vesper, which can help bootstrap more initiatives into the future.
Vesper and Metronome present a strong synergy through Bloq DeFi to provide a first-of-its-kind to provide an innovative product to both communities and the DeFi space. We see a lot of potential benefits for our users and plan to share more in the following weeks about developments within the Metronome Synth platform.