Proposal: Add VSP and VVSP as collateral assets on CREAM Ethereum

Summary:

Add VSP and VVSP to the CREAM Finance Ethereum lending market as supported collateral assets.

Contract: 0x1b40183efb4dd766f11bda7a7c3ad8982e998421

Contract: 0xba4cfe5741b357fa371b506e5db0774abfecf8fc

For

Adds VSP and VVSP as collateral to CREAM Finance lending app.

Against

No Change Required.

Background

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).

Motivation

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.

Specification

The proposal will be pushed to Snapshot voting on April 22nd and run for a duration of 4 days.

3 Likes

Vesper is one of the BEST defi projects out there with enormous TVL. It would be a great addition to CREAM. I vote YES. Make it happen!

Would be a big addition for both Vesper and Cream communities. I vote yes!

VSP is a great project, I vote yes!

Yes! This would be an amazing collaboration

Vesper stands head and shoulders above the vast majority of DeFi protocols. The team, drive, communication and the long term view makes it a very special project.

Cream would be ahead of the curve (pun intended) if they add VSP VVSP as supported collateral assets. :rocket:

There’s literally zero reason not to do this. Vesper has quickly established itself as one of the premier DeFi platforms for yield aggregation. Backed by a team with impeccable credentials, Vesper will bring great value to the CREAM ecosystem.

Would definately use my vVSP tokens to do some lending on the CREAM finance platform! Can’t wait to vote today!

A note that the vote is now live:

https://vote.cream.finance/#/cream-finance.eth/proposal/QmTLyBgHkW5RPZMhHrNitf8FUaXgxZb77QiExHqMpcYsuw

Disclosure: I am a member of the project team.