Vesper Launch Date — February 17, 2021
We’re proud to announce the VSP token will officially launch on February 17. On that date, Vesper beta users will receive their reward tokens in their wallets.
We wouldn’t extend the beta and keep you waiting without good reasons. Here they are:
Partnership Development
The success of Vesper’s introduction and the beta launch garnered attention from a venerable list of strategic partners and advisors. (More on this topic very soon.) In addition, we have talked to the leadership of all leading DeFi protocols and have been strongly encouraged by those conversations. We would be doing our community a disservice if these conversations were not pursued to their absolute fullest ahead of our launch.
Revenue Model Improvement
Along with the recent fee reduction, we also made an additional change to the revenue model. This change further ensures that the Vesper founding team stays on even footing with the members of its community.
The new model treats the Vesper team and external developers equally with regard to pool revenues. In other words, the Vesper team will only take a share of the revenue in such cases where it has built the pool, such as the current vETH, vWBTC, and vUSDC pools. In all other cases, the 5% cut of the revenue will go to the developer of the pool. We believe this better aligns incentives between the Vesper creators and the community of developers we intend to build.
Testing and Auditing
While the initial pools were audited prior to the beta launch, the core contracts for the VSP token and the vVSP pool, needed to match the same level of quality and rigor. We were not willing to cut this corner for the sake of speeding up the launch timeline. All audits will of course be complete well in advance of the February 17 launch.
Final Beta Rewards
As a bonus for our beta participants, we are increasing the beta rewards from 375,000 VSP to 450,000 VSP. These bonus tokens will be split evenly across the three initial pools, totaling 150,000 VSP per pool for vETH, vWBTC, and vUSDC.
In closing, we have been appreciative of the growing, energetic Vesper community for their feedback and insight during our early days. Your impact is felt and we look forward to watching the community grow and continue to become a vital component of Vesper’s growth.
