Vesper Finance
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Vesper Finance

USDC (v3) Beta to Debut the First Multi-Strategy Pool; VSP/vVSP Live on CREAM, Bridged to Polygon

Also: First bounty paid for early fixed-rate pool work, Vesper to sponsor DAS 2021, and more.

VSP/vVSP on CREAM

VSP and vVSP tokens are now officially live on Cream.Finance as collateral assets. Users can now supply and borrow Vesper tokens. This also paves the way for future potential yield farming pools on the Vesper platform.

Since the tokens went live on CREAM, the community has been brainstorming and sharing ideas on how to earn yield in the #defi-lending-strategies on the Vesper discord. Be sure to check in there if you are curious to learn more!

If you missed it, you can check out the original Vesper proposal to CREAM, and the unanimous community vote that followed.

First Multi-Strategy Pool to Launch with USDC (v3) Incentivized Beta

The new USDC (v3) pool will introduce the long awaited Multi-Strategy functionality (formerly Multi-Pool). This allows pools to allocate percentages of total deposits to different strategies concurrently. It also supports dynamic updates to these allocations, so that funds can be pulled from lower-performing strategies into higher yield alternatives.

Starting May 24 (time TBD), there will be an incentivized beta of 50,000 VSP for this pool, which works on the same principle as the incentivized beta launch.

Be sure to review the details in the original announcement.

Vesper + Polygon

Both VSP and vVSP have been bridged to Polygon. The team continues to explore cross-chain opportunities, which can enable any of the following:

  • Cheap trading on vTokens
  • New opportunities for yield
  • Low gas fee for pool deposits and withdrawals

Anyone with thoughts or recommendations regarding cross-chain opportunities is invited to collaborate in the dev-general channel.

Bounty Paid for Fixed-rate Vesper Pool

Community member PunkLord earned the first part of a $125,000 bounty for his initial code delivery for a Vesper fixed-rate pool.

Fixed rate pools can take either of the following forms:

  • Set APY is delivered, excess APY flows into an insurance pool then to vVSP once insurance pool fills.
  • APY retargets at epochs (likely month-to-month), fixed APY guaranteed for the duration of epoch.

Fixed rate pools are intended to target cautious investors more concerned about longevity of their yield rather than best-yield-possible. It is also a category that is increasing in popularity.

DAS 2021 Sponsorship

Even with markets reacting to what could only amount to the greatest heel-turn in recent crypto history, Vesper is continuing to invest in its long-term marketing strategy. Vesper already brought in top-flight, forward-thinking funds like Blockforce, so how does it bring in the next several Blockforces?

Since their earliest beginnings, the people at Blockworks have been working to build a conference and media property that answers this exact question. Vesper is therefore sponsoring this year’s Digital Asset Summit in New York, September 14–15.

The company we’re keeping at the platinum level includes the likes of Aave, Matrixport, Lukka, Foundry, and Chainalysis. And with attendees paying four-figures-per-ticket to attend, we know that the audience is serious about bringing the power of DeFi to the broader financial ecosystem.

Insight of the Week — The Flow of Vesper

This week, we look at the biggest sources and destinations are in VSP transactions .

We noticed that the top source and destination addresses are almost equal. In other words, where people are sending the most VSP to also happens to be where the most VSP comes from. The top three wallets are the Uniswap v2 VSP/ETH pool, Sushiswap VSP/ETH pool and the Vesper DAO reserve wallet, which distributed the early airdrops and handles pool rewards. Other top addresses include the vVSP pool, handling the VSP deposits and withdrawals, and the VSP-1INCH trading pool for traders. Sablier is another interesting wallet popping up, paying VSP to advisors and other stakeholders over time.

Odds and Ends

Credit: 0xHolland

As always, keep up with Vesper on:

#VesperFi

Vespernauts Michael, Simon C., Holland, and Green Jeff contributed to this report. Edited by Phil Gomes.

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