Vesper Launches on Optimism
Continuing our commitment to interoperability and multichain support, Vesper has launched on Optimism, starting with ETH and USDC deposits.
Overview
At Vesper, we’re constantly striving to reduce the entry barrier for crypto yield. That means incorporating chains that can better adapt to market conditions and achieve not only faster but more affordable methods of getting involved. To that end, we’re happy to announce our launch on Optimism, an essential step towards a multichain future. We have been impressed with Optimism’s level of adoption in the past year, and we’re excited to offer it to our existing community. This new integration means that Vesper users can now benefit from speedy and cost-effective deposits, withdrawals, and management of their positions via the Optimism network.
Initial Vesper Grow Pools that have been integrated include ETH and USDC. However, we’re not stopping there, with continuous development ongoing for our pool offerings in the near future.
It’s important to note that Vesper has applied for an Optimism grant which can be found here. If approved, the OP tokens obtained will be used as extra rewards for those who deposit in the available and future Vesper-Optimism pools.
What is Optimism?
Optimism is a Layer 2 blockchain that utilizes optimistic rollups to address Ethereum’s current scaling challenges. With optimistic rollups, off-chain transactions are bundled together and then posted to Ethereum’s Mainnet. This creates a system where fees are distributed amongst participants, providing lower gas and faster transactions.
Moreover, as Optimism assumes off-chain transactions are valid, it, therefore, does not require proof of validity for batches of transactions that are posted on-chain. However, they can still be challenged and verified if needed. Validators have a week to flag any rollup they believe contains invalid transactions. If unchallenged, they are deemed final, and Ethereum smart contracts can safely accept withdrawal proofs.
Their Governance process is handled by both the Optimism Foundation and the Optimism Collective to provide funding for projects and public goods. By holding their native token, OP, users can participate in voting to help shape the future of the protocol.
The Optimism Collective is formed by the Citizens’ House and the Token House. If you wish to join the Citizens’ House, you must obtain a non-transferable NFT, which the Foundation and Token House (OP token holders) oversee. The membership is soulbound and, therefore cannot be transferred to another individual.
Funding Optimism
Users must have funds on Optimism in order to deposit to Vesper-Optimism. Please refer to the Optimism help center and community channels for further information or assistance.
How to get Involved
With Vesper, users can now deposit ETH and USDC to earn yield on their Optimism assets by following the following instructions:
- Visit the Vesper app
- Switch networks to Optimism in the top right
- Find the ETH/USDC pools and choose your preference
- Input your desired amount and deposit the required assets
- Finally, approve the transaction
After doing so, you will receive a vToken (Vesper Pool token) representing your weight in the pool. You can visit the pool page to realize your earnings or withdraw anytime.
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