Add VSP and VVSP to the CREAM Finance Ethereum lending market as supported collateral assets.
Adds VSP and VVSP as collateral to CREAM Finance lending app.
No Change Required.
Vesper is dedicated to making DeFi easy-to-use, combining the benefits of a professional approach with the inherent advantages of DeFi. Vesper routes user deposits of major crypto-assets — currently ETH, WBTC, USDC, LINK, and Vesper’s own VSP token — across various DeFi protocols to generate yield. Over time, the project seeks to expand the number of strategies and platforms integrated as well as supported deposit assets — thus this proposal.
The market responded well to the Vesper launch, trusting Vesper with more than $1 billion in Total Value Locked within the first six weeks. (As of this writing, that number is over $1.5 billion.)
VSP is the native currency to the Vesper ecosystem. VVSP is the governance vault that votes on Vesper proposals and shares revenue in the form of VSP buybacks (similar to xSushi and stAAVE).
A “yes” vote to Vesper’s proposal enables the following:
- Introduces CREAM as a source of yield to the ever-growing Vesper ecosystem.
- Establishes additional synergy between Vesper and CREAM to push more assets through the proposal process and create more strategies that route through CREAM.
- Increases net deposits across both ecosystems, and more acutely, significant uptick in volume on both lending and borrowing.
The proposal will be pushed to Snapshot voting on April 22nd and run for a duration of 4 days.