Vesper Finance added new pools to their platform. Welcome the Grow Pools on Avalanche. Cross-chain at work once again. You only need to deposit a coin and earn the same coin. They offer two strategies, an aggressive one and a conservative one.
Vesper already had the Earn Pools. Here you deposit one token and earn another token. Let’s have a look at what Vesper Finance and its pools have to offer.
Grow Pools on Vesper Finance
Vesper is a DeFi platform where users can easily manage their investments. This platform has “Grow Pools“, which are algorithmic DeFi lending strategies. In simple words, they put capital from a group of users and fund it in this pool to generate interest in many DeFi protocols. As of now, with a new extension to Avalanche.
Avalanche is a great layer 1 blockchain. Currently, they allow for the fastest time-to-finality. They also have the most validators of all PoS chains. Secure, fast, and cheap. What else do you want from a blockchain? To make you feel at ease, Vesper had two audits for their pools.
Now, if you decide to take part in their pools, it’s like a set-and-forget investment. Furthermore, Vesper only works with blue-chip tokens. The current pools available on Avalanche are for USDC, WBTC, and DAI, AVAX and WETH. In addition to the pools, Vesper added an extra 50,000 VSP. Therefore, this is only for the first two months that the pools are live. The first month sees 35,000 VSP added. On top of that, the second month sees another 15,000 VSP.
As with everything in the financial world, there’s also always a risk. In this case, a so-called ‘black swan’ is the risk factor. That’s when one asset in the pool flash crashes. This happens very fast and can leave a lender insolvent. In turn, this could mean a liquidation fee. In other words, you lose your assets.
Source: Vesper Finance
How to Add to the Grow Pool
The steps that you need to follow to join a Grow Pool are easy. Here is a breakdown.
- Choose a pool and crypto you like to join.
- Decide if you like an aggressive or a conservative pool. Vesper compounds the yield and makes sure they take it regularly. Of course, on your behalf. During the first two months, you share in the extra VSP.
- Now the real beauty comes, you only need to deposit your crypto. Vesper takes care of everything else.
Vesper takes now over and contacts other top DeFi protocols. For example, Trader Joe, BenQi, Curve, or Aave. All these platforms offer different strategies. Therefore, Vesper deposits to these pools and borrows, using them on top of each other.
That sounds fairly easy, now, does it? However, before you can deposit into the Avalanche Grow Pools, you need funds on Avalanche. Here is an explanation of how to do that.
In addition, Vesper is cross-chain and is also available on Polygon and Ethereum mainnet. Then, Vesper intends to add more chains later this year.
Now Available: Vesper Grow pools on Avalanche!
— Vesper Finance (@VesperFi) April 20, 2022
Earn Pools in Vesper Finance
A quick word on the Vesper Earn pools. Here you add a token and earn a different token. For example, the yield is 1.27% in the WBTC pool, where you earn DAI. Moreover, the highest yield is 78.56%. You deposit DAI and earn LINK.
There’s also one Governance Pool where you earn 2.75% on VSP. Moreover, stable Pools with a fixed APY are coming soon.
Source: Vesper Finance
Vesper Finance offers an easy way to earn passive income. Now available on Avalanche, with various strategies. Finally, deposit your asset and sit back and relax. As easy-peasy as DeFi comes.
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