This Week: New Pools and VUSD Front-end Emerge in Beta, vVSP Loans on Ruler Protocol

This post was originally published on Vesper finance

Also: Jordan Kruger SCC keynote now online

Vesper Finance

Jul 2 · 3 min read

UNI / USDT Pools Enter Beta

The much-awaited UNI and USDT Vesper Grow pools are officially live for beta testing on the Vesper Dev Site. The Vesper community voted on May 2nd to whitelist UNI (Uniswap) and USDT (Tether) as the next two assets on the Vesper Platform. Over time, any ERC20 token with demand can be considered for its own Vesper Grow pool. UNI and USDT were the best candidates for the next two pools as there are strong markets for each. Beta testing is likely to last for around thirty days, or until the team believes that the pools have had sufficient time in the wild with no issues.

While the engineering for these two pools has been complete for quite some time, the external audits ended up taking longer than expected. All Vesper Grow pools are audited twice by outside organizations before doing a public beta test. (Full information on Audits and Due Diligence.) While audit delays can be frustrating, platform security is tantamount for the future of what Vesper is building.

VUSD Update

The VUSD beta now features a more permanent frontend for minting (thus replacing the temporary devApp).

The app will now be the destination for additional buildouts and VUSD as it continues to grow.

The team is encouraging everyone to review the whitepaper, now in v0.9.2.


An important distinction of VUSD is an emphasis on Uniswap v3, which gives a much more capital-efficient and user-friendly market for stablecoin-stablecoin trading. Jeff highlights this and more in his recent state-of-VUSD Tweet thread:

One of our Vespernauts, Jake at Coinjab, featured VUSD in their article outlining emerging DeFi stablecoins.

vVSP Loans on Ruler Protocol — Expiring July 31

Ruler Protocol features fixed-term, no-liquidation loans on major ERC20 tokens. The current epoch features vVSP loans through July 31st at (currently) 51% interest. Ruler offers a competitive minting rate at 7 DAI per vVSP (about 60% loan-to-value). Of course, vVSP holders continue to earn VSP revenue while it is posted as collateral.

NOTE: If the loan + interest isn’t paid by the deadline, the debtor forfeits their vVSP collateral.

DAI holders can also lend at this fixed rate to capture that 51% as DAI APR. Whether or not future rounds of vVSP loans will be offered after July 31st is dependent on market engagement.

Jordan Kruger at SCC 2021

If you didn’t catch Vesper CEO Jordan Kruger’s Super Crypto Conference 2021 keynote, the replay is now available, which features insights on the challenges and opportunities impacting the future of DeFi.

The discussion dives into Vesper’s goal to elevate DeFi through professionalism, simplicity, and collaboration and previews some exciting Vesper products that’ll be coming out later this year.

Insight of the week

Last week, we took a deep dive into the average holdings of vVSP holders. To build further on the insights that emerged from that analysis, we created a query that allows you to see the distribution of vVSP holdings on a per-user basis. One variable allows you to select a certain group size (“How big is a bucket in which we want to put a vVSP holder?”). Another variable selects an upper limit for the size of the holdings. Go ahead and play around with the parameters to see your preferred view.

As always, keep up with Vesper on:


Vespernauts Michael, Simon C., Shazi_H, and Green Jeff, contributed to this report. Edited by Phil Gomes.

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