VIP-002: vLINK to Main App

The vLINK pool successfully launched to beta. The community can now vote to graduate vLINK to the main Vesper app.

On Thursday, April 15, 2021, at noon U.S. Eastern Time, vVSP balances will be snapshotted for voting on the second VIP, which proposes the graduation of vLINK from the beta site to the main app. As before, voting commences three hours after the snapshot and runs for 72 hours.

Note that after ~190,000 vVSP were cast for VIP-001, we’ve decided to double the minimum quorum threshold to 30,000 vVSP. In other words, 30,000 vVSP must vote in favor of the proposal with >50% approval for the vote to pass.

In order to participate in the vote, users must 1) hold vVSP at time of the balance snapshot, and 2) follow the prompt in Snapshot.page to indicate their vote. The upcoming vote (along with concluded votes and other upcoming/ongoing votes) can be found on the vVSP Snapshot.page. From there, users can follow the interface prompts to signal their vote, which requires the user to sign a message from their wallet.

To reiterate: Users holding VSP must deposit to the vVSP pool and hold vVSP when the balance snapshot takes place. After the snapshot, users are free to move their vVSP freely without jeopardizing their voting weight.

Next Steps for vLINK

While this vote pushes vLINK to the main app, it doesn’t endorse any VSP boost like the other pools on the main app. Anticipate that VIP-003 will outline a VSP rewards schedule from the DAO reserves, coming soon after this vote.

Note that any proposal for a rewards boost is not ultimate. If passed, further votes can extend or modify future months. If failed, any number of counter-proposals may be introduced after the fact.

To join in on the discussion, join the Vesper Discord and present your ideas to the pertinent governance and developer channels.