Vesper Finance announced last Friday, November 19, through its Twitter account, that it has included $DPI in the first group of Vesper Orbit pools.
“Starting Tuesday, November 23, users can deposit and start earning through Vesper Orbit’s official online application, orbit.vesper.finance. The first groups of Vesper Orbit support stablecoins for the Frax Protocol (FRAX), the Fei Protocol (FEI) and Alchemix (AlUSD), in addition to the DeFi Pulse Index (DPI) token”, he said through an article published in the Medium platform.
What is Vesper Orbit?
It’s a way to access the performance of some of DeFi’s most exciting projects, which are powered by some of the most vibrant communities. Think of it as the degen plugin for the very well established tokens compatible with Vesper’s main application, but still using the battle-tested performance strategies that the latter implements.
Why Orbit?
According to the company, many emerging projects under the “DeFi 2.0” umbrella span different protocols that are designed to drive maximum capital efficiency.
But getting this performance is easier said than done. Even power users are burdened with gas fees accompanied by activities like packing assets in LP and gambling on platforms like Convex. Other high APY destinations like Rari are fragmented, which means you have to deposit your tokens in many different pools, and those APYs fluctuate between pools constantly”, he added.
In his view, Vesper’s modular backend is uniquely positioned to support these tokens, which are currently driving power in the DeFi space. Vesper pools provide a hands-off alternative for people looking to avoid those burdens.
However, there are strict guidelines for assets supported by the main Vesper application. Vesper Orbit creates an ecosystem for interesting assets, where they can generate superior performance. The orbit also serves as a steppingstone; The tokens can finally be integrated into the main Vesper application.
The company said Orbit also establishes Vesper as DeFi’s “umbrella layer”. It enables Vesper to better foster relationships with newer protocols, and similarly helps communities interact with each other.
Also read: Elrond announced that Maiar DEX “is available”
Orbit economy
Vesper noted that Vesper Orbit groups will have 0.6% withdrawal and 20% performance fees that follow the same revenue model as aggressive groups. There will be a deposit limit of $25 million per group, due to the relatively nascent state of these token ecosystems.
“The first batch of Orbit clusters will be bolstered with 1250 VSP each. Additional VSPs will be allocated based on the contributions of the represented token communities, as well as the performance of the group”, he said.
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