Vesper announced the main launch on SushiSwap that will happen today at 10:00 a.m. Eastern Time. The main launch is a result of an ongoing partnership between Vesper and SushiSwap. VSP token will be available on SushiSwap after today’s launch.
The collaboration surely will help Vesper find more customers and users in the SushiSwap community. The main launch comes with rewards for liquidity providers. Vesper details the rewarding process for LPs in the latest announcement.
More Opportunities for Liquidity Providers
Vesper Finance is a DeFi platform with a focus on providing easy products to users. It has decided to launch the primary token, VSP, on SushiSwap and benefit from the vast user-base and technical opportunities. VSP’s main launch isn’t the only partnership process between Vesper and SushiSwap. The two teams will collaborate further to provide better services to LPs. According to the Vesper Finance announcement:
“The Vesper team has been collaborating with SushiSwap to navigate the main launch and ongoing liquidity campaign. We’re enthusiastic about the future of SushiSwap and its speed of innovation, and we are looking to continue our working relationship with them as SUSHI and VSP continue to grow.”
The VSP main launch on SushiSwap will happen at 10:00 a.m. Eastern Time. The initial launch will have $700,000 in ETH and 280,000 VSP tokens. Vesper claims a $2.5 price tag for the initial release of the VSP token. Vesper will provide most of the initial liquidity for the main launch and ongoing liquidity rewards. It’s a sign of goodwill in the partnership with SushiSwap.
Vesper Finance allocated one million VSP tokens for liquidity providers. %60 of those tokens will be reserved for rewarding SushiSwap LPs. The amount will be distributed to SushiSwap LPs over the course of twelve months. Most of the rewards will be distributed in the first weeks and months to attract more liquidity providers. About 222,000 VSP tokens will be distributed in the first month. The remaining tokens are planned to be rewarded to LPs in the next eleven months.
Vesper Finance and SushiSwap plan to double the rewards for liquidity providers through the Onsen program. But the program isn’t ready for the main launch, and Geyser will be used until then. Vesper details the Geyser phase:
“Geyser provides ‘competitive yield farming.’ Users can boost their weight in the LP pool by spending GYSR when they claim rewards tokens. There is also a time-in boost where long-term depositors have a higher weight. However, because our SushiSwap Geyser will persist on a rolling basis, we will not take advantage of a time boost.”
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