You Can Now Use Vesper with Alchemix!

Vesper aims to be the most versatile “DeFi middleware” in the entire space: a DeFi money LEGO allowing for low-burden integrations while also always taking a security-first approach to yield aggregation.

Today, we’re happy to roll out a new addition to Vesper’s integration arsenal: Alchemix!

What is Alchemix?

Alchemix is a platform built on Ethereum which allows you to take out loans with your deposited collateral. The loans take the form of a synthetic token. Unlike traditional lending experiences, Alchemix features a signature twist: the loan is automatically repaid over time using the yield from the deposit itself. You effectively receive a loan on the future value of your collateral. Because the borrowed synthetic is pegged to your deposited collateral, it also means there is no liquidation risk.

Plug Your Vesper Deposit into Alchemix

Vesper offers a set-it-and-forget-it-yield experience on blue chip assets like ETH and USDC. Yield is earned by compounding your deposit across various reputable DeFi protocols, such as Maker, Curve, and Aave.

More advanced users, however, can opt-in to do more than set it. Every Vesper deposit is represented by vTokens which act as a receipt of your funds and earned yield. These vTokens can be redeposited into other protocols integrated with Vesper. This is where Alchemix comes in.

How to Use Vesper with Alchemix

You may already see how Vesper fits in this schema. Essentially, you can use your Vesper deposits across several assets: USDC, DAI, and ETH to mint alUSD or alEth loans on Alchemix. Use these loans for additional yield or whatever else and keep earning Vesper’s base yield along the way! That’s a supercharged money lego.

Here are the steps:

1. Deposit USDC, DAI, or ETH to Vesper Grow Pool

2. Deposit this Vesper position to Alchemix

3. Borrow alUSD or alETH with your Alchemix position

With that, you now have a few options on how to further use your loan.

For alUSD:

• Provide liquidity on Curve via the alUSD/FraxBP pair. Then deposit your LP tokens onto Convex to earn.
• Swap the AlUSD for more USDC. Loop back to Vesper and double up on your yield.
• Trade your AlUSD to go long on a token, if you so wish.

For alETH:

• Provide liquidity on Curve via the AlETH/ETH pair. Then deposit your LP tokens onto Convex to earn.
• Swap the AlETH for more ETH. Loop back to Vesper and double up on your yield.
• Trade your AlETH to take a directional position on ETH.

Additionally, Alchemix features a list of yield sources for your borrowed alAssets.

As you can see, Alchemix allows you to put your Vesper deposit to use. While, at the same time, you’re earning base yield through Vesper itself. And because Alchemix loans “pay themselves back,” you do not have to worry about liquidations.

Vesper as the Ultimate DeFi Middleware

Alchemix is just one piece of the potential Vesper unlocks by striving to be the middleware of choice for so many protocols. We want Vesper to become the “default yield” for DeFi users. In the future, we’ll have dozens of protocols plugged into our protocol — making Vesper the most secure option for users to maximize their earnings and play with the best DeFi has to offer.