LINK Beta, $100k Bancor Bounty, and Vesper’s First “VIPs” — A Week in Review

This post was originally published on Vesper finance

LINK Beta, $100k Bancor Bounty, and Vesper’s First “VIPs” — A Week in Review

Vesper Launches LINK Pool in Beta

On April 2, Vespernauts welcomed LINK Marines into our first expansionary Grow pool beyond the original three. The vLINK pool, which can be accessed at the Vesper Beta app, is now open for deposits.

Initially, the LINK pool will operate a conservative strategy that takes out DAI loans and routes through vDAI for best-yield strategy. However, we’re in the process of creating our first set of aggressive strategies, which route through Curve, and it’s likely that LINK will similarly benefit.

After time spent in Beta, vVSP holders will have the opportunity to vote in favor of graduating vLINK to the main page. From there, the community can determine if they’d like to deploy DAO reserves to additionally boost vLINK with VSP rewards, similar to our initial trio of Vesper Grow pools.

Bancor Bounty

The best and most active place to keep an eye on Vesper is, without a doubt, the official Discord. This past week, participants in the #dev-general channel got the early scoop on a $100,000 bounty posted by Vesper co-founder Jeff Garzik:

There you have it. Deadline is April 15 for a winning Bancor strategy. Head on over to the Discord for more and take a look at the public Vesper pool repo on GitHub.

CREAM Reminder

This is your weekly reminder that Vesper is submitting a proposal to CREAM Finance for VSP and vVSP to become supported assets on their platform. A wallet’s CREAM balance in the 28 days leading up to the April 22 vote will determine its voting weight.

biswap

The Vesper community can maximize its collective voting power by holding CREAM (or crCREAM) tokens in their voting wallets for those 28 days prior to the vote. The original post has more details.

The First VIPs — Vesper Improvement Proposals

As Vesper transitions towards a DAO structure and decentralized governance, more and more administrative and ownership decisions will be made by vVSP holders. There are two drafted VIPs that will be voted on soon, reflecting the graduation of vLINK to the main site and the creation of an “OpComms” multisig wallet funded by the DAO reserves. More info on this to come.

vETH, vWBTC Strategy Migrations

Our vETH and vWBTC deployments were successfully unwound and redeployed to Compound V3 to generate yield from lending and harvesting COMP.

Why does Vesper do this? Due to the large magnitude of funds within our pools, withdrawing all assets at once can have unintended consequences on the protocols we interface with, so a gradual unwind is best in cases of switching strategies altogether.

LP Updates

Onsen Rewards

This week’s claim id for SushiSwap VSP-ETH LPers is “4” and can be redeemed over at Pure Finance. LP balances are polled throughout the week and distributed in a weekly claim each Wednesday.

Loopring

The most recent round of Loopring liquidity mining rewards kicked off on April 1st. Each round lasts two weeks. As before, VSP/ETH order book market makers split 1,300 VSP for the two week duration, and another 667 VSP was allocated to the VSP/DAI market.

Additionally, there is 27,000 LRC in rewards for traders who use the VSP-ETH AMM. More information can be found here.

Vesper Reviews

Bitcoin Builder Research

The team finds it incredibly gratifying when someone independently publishes content that shows they absolutely, positively, undeniably get what the Vesper team set out to do.

And “get it” Ben from Bitcoin Builder Research did. If you are already a Vespernaut or are still figuring out what Vesper is all about, this is well worth the 17 minutes.

Community Contributions

Many thanks to John Nguyen, the first Vespernaut on record as having contributed to the Vesper FAQ on GitHub.

Odds & Ends

As always, we end with the creative output from the Vespernaut community:

Credit: Holland
Credit: Holland
Source: Dartnite

As always, Vespernauts can best follow Vesper through Discord, Twitter, Telegram, and YouTube. We’re also starting up the official Vesper subreddit, so be sure to subscribe and share. #VesperFi


LINK Beta, $100k Bancor Bounty, and Vesper’s First “VIPs” — A Week in Review was originally published in Vesper Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.

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