Vesper Finance
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Vesper Finance

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.

Check out Metronome Synth!

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

If you subscribe, you’ll never miss an update. We treat major announcements as their own posts but a lot of the smaller announcements do add up. Sign up to get this weekly update delivered to your inbox via vesper.finance.

Vespernauts Michael, Errin, and Zane contributed to this report. Edited by Phil Gomes.

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