Vesper Finance (VSP) recently announced its newest rebasing tool, Lido stETH. The company explains that users have a higher probability of additional annual percentage yield (APY) due to various crypto market strategies.
We’ve teamed up with @LidoFinance to create a $stETH Grow pool!
Starting today, park your stETH on Vesper to earn more stETH, and rewards in $VSP.https://t.co/izx1zh8xvK pic.twitter.com/epO9ajXp7j
— Vesper Finance (@VesperFi) August 29, 2022
Lido sends assets to Aave to take out stablecoin loans, which are then routed through Vesper pool. This means that holders of stETH can potentially have better returns, in addition to the base 4% APY carried in the stETH token itself.
Unlike the LP yield opportunities for stETH, Vesper’s pools do not expose the underlying stETH to impermanent losses, enabling users to stack more stETH at a discount when the token trades below peg.
Better Stablecoin Yield Opportunities
Similarly to the past several weeks, Vesper is pitching another 1,000 VSP to FXS voters through Pitch. To date, the company has been able to triple its weight in the Frax FXS gauage.
Users can deposit FRAX to Vesper and then stake on Convex to earn 2x boosted FXS + VSP in addition to their base FRAX APY. Currently, depositors using this strategy earn an impressive 14%+ total APY. This makes Vesper among the best stablecoin yield opportunities throughout the entire Convex ecosystem.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
