This Week — A Backstage Pass into Synthetic Assets
Also — Pool retirement proposal goes live, Vesper in CoinTelegraph
Utilize Vesper as Collateral on Metronome Synth
Through Metronome, Vesper users can mint synthetic assets against their existing Vesper positions, enabling them to perform looping yield farm strategies or otherwise mint synthetics to lend, trade, or provide liquidity.
Over the duration of beta, anticipate additional Vesper pools to be supported and increasing collateralization ratios, offering users increasing capital efficiency over their Vesper positions.
New Governance Proposal
A new Vesper Improvement Proposal (VIP) was published in the governance forum. VIP-24 proposes the retirement of specific Vesper pools that have been deemed ‘unproductive’. Voting will begin on January 18 at 2 p.m. ET on Snapshot.
The following pools are suggested to be retired:
Grow
- Aggressive DPI
- Conservative USDT
- Conservative DAI
Earn
- USDC-LMR
- DAI-DPI
- DAI-PUNK
- DAI-SHIB
- LINK-DAI
Orbit
- FEI
- AlUSD
These pools have experienced extended periods of low activity, which creates conditions where the costs to manage the pool exceed the revenue created. This in turn leads to the reduced buybacks of VSP.
The Vesper community is encouraged to discuss the proposal on the forums, and for vVSP holders to cast their votes next week.
Vesper Featured in CoinTelegraph
Vesper co-founder Jordan Kruger was featured in CoinTelegraph’s article on building trust in the DeFi ecosystem.
From the article:
“Kruger noted that while this has been important for Vesper’s users, regular audits should be viewed as a contribution to the DeFi ecosystem as a whole. “Our focus on software quality means that when other DeFi protocols integrate with us, they can partially draft behind Vesper’s significant investments in auditing.” This is an important point, as DeFi protocols witnessed some of the largest hacks and scams in 2022. Regular smart contract audits may have prevented some of these from occurring.”
Keep up with Vesper on:
#VesperFi
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Vespernauts Michael, Errin, and Zane contributed to this report. Edited by Phil Gomes.
