Vesper Earn Launches on Polygon!
Starting today, DeFi participants can use Vesper Earn to deposit DAI and earn yield in WBTC or WETH on the Polygon network for a lower-fee DeFi experience.
Costly gas fees are a barrier to entry for many in DeFi. In line with Vesper’s multi-chain vision, DeFi participants can now take advantage of the Polygon network’s low fees while using Vesper Earn on the Vesper app. Vesper Earn is a new type of DeFi product that allows users to deposit one crypto asset and earn yield in another through a concept called programmable yield.
The initial Earn pairs available on Polygon are:
- Deposit DAI, Earn WBTC
- Deposit DAI, Earn WETH
Vesper Earn opens up a number of new opportunities for how DeFi participants use their yield — from remittances to daily spending money and startup funding.
The output yield is dripped to users over time and they can claim as often as they like. Any earned cryptocurrency not claimed by the user continues to compound until the claim is made. It is wrapped as Vesper pool deposits until the time of claim.
In the near term, DeFi participants can use Vesper Earn for:
- Day-to-day spending money: Utilize earnings for daily needs.
- Directed Yield: Direct yield to a charity or business, while holding onto the principal.
- Transformed yield: Use stablecoin holdings to automatically earn crypto.
Vesper Earn pools have a different fee structure from Grow pools. Earn pools carry a 0% withdrawal fee and a 25% performance fee. Revenue generated from this yield is handled under the global Vesper revenue framework, which includes splits to vVSP token holders, the developer, and the treasury.
Vesper Earn is available on the Vesper Finance web app, which offers multiple languages.
What are you most excited to use Vesper Earn for? Share feedback and join the conversation in the Discord #product-feedback channel to help drive the future of Vesper Earn!