This DAO-to-DAO proposal is to create a new FUSE pool that is managed through the existing Vesper DAO governance structure. The Vesper DAO will use this Fuse pool as its primary lending platform, selecting the tokens (via Vesper gov) based on the needs and wants of the Vesper community.
What is Vesper?
Vesper Finance is a DeFi ecosystem and growth engine for crypto assets, providing a suite of yield-generating products focused on accessibility, optimization, and longevity. Vesper is dedicated to creating and supporting the conditions for DeFi’s expansion and success, to the benefit of all participants.
Today, Vesper operates as a yield meta-aggregator for top crypto assets (ETH, USDC, WBTC, LINK, DAI, USDT, UNI). Users can deposit these assets to Vesper and enjoy auto-compounding returns as their funds are routed to the best yield opportunities in the space.
What are we hoping to accomplish?
Vesper seeks a well-written, well known, audited lending platform to serve its community.
We propose the creation of a new FUSE Vesper pool to allow borrowing / lending of various DeFi assets including the Vesper tokens, managed by Vesper governance. Vesper governance v1 is a Gnosis Safe 0x9520b477Aa81180E6DdC006Fc09Fb6d3eb4e807A, with a progressive decentralization transitioning to Compound-forked governor, governed by the VVSP token.
Here is an example of the parameters for the pool we will set, once whitelisted as pool mgmt:
- Upgradeable: Yes
- Liquidation Incentive: 8%
- Close Factor: 50%
- Platform Fee: 10%
And initial assets:
- ETH (Collateral Factor / Reserve Factor): 65% / 20%
- wBTC (Collateral Factor / Reserve Factor): 65% / 20%
- USDC (Collateral Factor / Reserve Factor): 75% / 15%
- DAI (Collateral Factor / Reserve Factor): 75% / 15%
- VUSD (Collateral Factor / Reserve Factor): 75% / 15%
- VSP (Collateral Factor / Reserve Factor): 60% / 20%
- vVSP (Collateral Factor / Reserve Factor): 60% / 20%
- MET (Collateral Factor / Reserve Factor): 70% / 20%
- DeFi: Orchestrate a DAO-to-DAO proposal and arrangement.
- DeFi: Become part of the ‘seasoning” process for new, high quality tokens.
- Vesper: To collateralize project tokens VSP and VVSP, similar to SUSHI/XSUSHI. This collateralization via Fuse pool provides a key alternative for Vesper users, versus swapping the VSP token to meet capital needs.
- Vesper: Vesper’s Grow pools - aka yield vaults - are hungry for additional yield sources. This Fuse pool will add additional yield sources.
- Vesper: New project tokens that lack yield sources can be evaluated and listed through Vesper’s governance process. This, in turn, creates yield sources for Vesper’s pools.
- Rari: Vesper users can bring TVL and traffic through strong demand to collateralize their VSP or VVSP tokens.
- Rari: Vesper can bring TVL simply by doing its job - seeking additional yield sources for Vesper’s pools.
- Rari: Vesper can on-board new project tokens in a risk-adjusted manner. This creates a sandbox that trials tokens for listing in other Fuse pools.
Vesper Market Statistics & Info:
As of 7/5/21
- TVL: ~$460M
- Market Cap: $32.5M
- Circulating Supply: 4,187,684VSP
- Telegram: 4,155
- Discord: 650
- Twitter: 16,500
Token Supply Documentation: https://docs.vesper.finance/
For: Whitelist Vesper team member EOA 0xf4087b7AB24Bde9c445ddD0bc4DF257F81277214, which will create a new Vesper Fuse Pool, then transfer management to Vesper Pool Ops (0x9520b477Aa81180E6DdC006Fc09Fb6d3eb4e807A).
Against: Do Nothing