Launching Dec. 18 — Vesper Earn Enters Beta
When you can earn one token by depositing another, multiple exciting possibilities emerge.
[Updated with launch date and first group of pools.]
Today, the first of several Vesper Earn pools entered beta — the first to offer the “deposit [x], earn yield in [y]” user experience.
The incentivized beta will start today with:
Throughout the beta leading up to the Q4 2021 launch, the next pools will be:
- Deposit WBTC, earn DAI
- Deposit DAI, earn ETH
- Deposit DAI, earn WBTC
- Deposit DAI, earn DPI
The concept of “programmable yield” was discussed early in the Vesper launch and opened up a number of new possibilities for DeFi in particular and finance in general.
Here are possible applications that have most excited the Vespernaut community and others so far:
- Spending Money: Your crypto holdings can drip spending money
- Dollar Cost Averaging: Your stablecoin holdings can automagically DCA your crypto
- Charity Pools: You can support charity by donating yield, while never letting go of your crypto — a truly donor-controlled endowment
- Evergreen Funds: Generate yield for a project, earning that project’s token.
Vesper Earn can also be approached as another DeFi LEGO brick that enables more complex build-outs on top of it. Vespernauts have shown interest in and brainstormed a charity pool that incorporates NFTs — earning “points” for deposits, which can be redeemed for NFTs contributed by artists supporting the charity.
During beta, the new Earn pools will be incentivized with 5,000 VSP each, using the same math as Vesper’s February 2021 launch. (That is, a user’s rewards are calculated based on the average pro rata contribution to the pool over the amount of time.) In the event that the beta period extends beyond one month, the pools will be awarded +3,000 VSP per month. Ex: 29 days in beta = 5,000 VSP, 31 days = 8,000 VSP. There will be a 25% performance fee on the yield, but no deposit or withdrawal fees.
What would you like to use Vesper Earn for? Join the conversation on Discord’s #product-feedback channel to help drive the future of Vesper Earn!