Vesper’s newest pool – Lido Staking ETH (vastETH) – offers holders a “HODL-better” yielding experience. This is the first rebase pool on Vesper where users earn the base stETH rebase + additional stETH from earned income + a VSP boost on top. The pool is replenished with 500 VSP in the first week and then receives a recurring premium according to the broader VSP issuance framework.
This is a unique stETH return aggregator product with no risk of temporary loss.
The Lido protocol allows users to earn ETH 2.0 staking rewards without locking ether or maintaining staking infrastructure. Lido manages the liquid staking protocol by deciding on key parameters (e.g. fee setting, assignment of node operators and oracles) through voting rights of governance token holders. Lido has been verified by Sigma Prime, Quantstamp and MixBytes.
Lidos stETH is a liquid token representing staked ETH. When a user stakes their ETH at Lido, the user is granted a stETH token. This token is rebased once a day to reflect staking rewards and can be redeemed for ETH once withdrawals are supported on the beacon chain.
ETH staked in LIDO earns ETH 2 validator rewards for the holder. Vesper uses stETH deposits as collateral for protocols like Aave and Maker for stablecoin loans. These stablecoins are routed back through the appropriate Vesper pools where they generate returns through protocols such as Curve and Convex.
This stablecoin yield is converted back into more stETH, giving depositors additional yield on top of the underlying stETH rebase rewards.
Since Vesper always uses the generated return to buy back more stETH, this integration helps to defend the stETH rate and better reward holders for their participation in expansion.
Visit the LIDO website for more details on how to interact with stETH.
Vesper, a security-focused DeFi yield aggregator, is now offering additional yield opportunities through its new stETH Grow Pool. Users keep their ETH staking rewards and earn additional returns that combine with more stETH.
Users can interact as follows:
- Go to the Vesper app.
- Navigate to the stETH pool and click in to access the pool page.
- Enter the amount of stETH you wish to deposit.
- Click “Approve” and follow your wallet prompt to allow the contract to access the stETH.
- Click “Deposit” and follow your wallet prompt to deposit your stETH into the pool.
Upon deposit, you receive a Vesper Pool Token, which represents your share of the pool deposits. For the stETH pool, this token is vastETH.
Your amount of vastETH stays the same until you withdraw or deposit more. The stETH value of each vastETH token keeps increasing, so users holding vastETH keep their stETH staking rewards as well as the additional returns generated by the pool.
To realize your earnings (including additional VSP and/or LIDO boosts):
- Click Claim on the pool page and follow your wallet prompt to access additional token rewards
- Click Withdraw and follow your wallet prompt to withdraw all or part of your deposit at your convenience – principle + returns included. You can withdraw your money at any time!
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.