This Week: HODL Your Way To Hashpower — Deposit USDC, Earn LMR
Also: Universal Fee Structure Roll-Out Continues
New Vesper Earn Pool Improves Treasury Management for Bitcoin Miners
Are you a Bitcoin miner? Or looking for a new way to make your treasury work as hard for your as your mine? Vesper teamed up with Lumerin Protocol to create the newest Vesper Earn pool: deposit USDC, earn LMR.
Similar to other Earn pools, users deposit their principal (in this case USDC) into the USDC-to-LMR pool. Over time, the pool auto-accumulates the yield and transforms it into LMR. This means that miners (and non-miners alike) can accumulate LMR to build a future claim on hashpower (without expending any capital) once the Lumerin Hashpower Marketplace launches. (You can try out the demo on the Ropsten testnet.)
In addition to supporting hashpower trading, depositing into the USDC-to-LMR Earn pool can be an effective strategy during adverse market conditions. Users park their USDC into Vesper Earn and earn LMR without letting go of any of their initial capital.
Fee Structure Upgrades Continue
The following Vesper pools on the Ethereum network have recently been upgraded to the new, universal fee structure:
The Universal Fee will charge a 2% annual fee on the assets deposited (principal) at the time of rebalance. If this fee is greater than the interest earned, the fee will only equate to 50% of the interest earned.
Users will always earn positive yield, from initial deposit, regardless of the performance of the pool. Protocols can easily and predictably route funds through Vesper to generate additional yield to participants. For partners, this single fee gives us the opportunity to build out the most powerful partner revenue share program in the space.
All Vesper pools on the Avalanche network have already been upgraded to the new universal fee.
Here’s a deeper look at Vesper’s multi-strategy approach. TLDR; it allows users to sit back and watch their crypto grow through leading DeFi yield sources — all without lifting a finger.
Pretty great, right? We think so. Tell others!
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