From the VIP Summary submitted by Vesper Brewing Co.:
Many tokens seen as exciting, controversial, or possessing high potential are barred integration from Vesper because they lack integration on other DeFi protocols. This VIP proposes “Vesper Orbit”, an off-shoot Vesper application and associated Rari Fuse pool that can incubate these tokens and create the yield sources needed for integration into the Vesper ecosystem.
I support this motion.
Vesper Orbit is a great way to attract TVL and communities around memecoins while preserving the professionalism of the Vesper brand.
Can anyone think of potential reg risks involved in whitelisting tokens that may be considered securities? My thoughts are that we aren’t exchanging them, and the platform is decentralized, so the risk is low. Unless someone can point me to a major neg, my vote will be yes.
1a) Any competitive comparison info or financial expectations based on fees earned with the planned strategies. We need a min APY goal/fee generation so token list is continually fine tuned.
Can we specify token criteria for Orbit so whitelist is understood… i.e. high yield generation via potential demand for tokens for shorting/protection strategies or collateralization on platforms like mim.
Any takeaways from recent vesper rari fuse 23 incident that need to be incorporated into proposal to mitigate any concerns… (token criteria etc.)
4)This proposal is specific to Rari on Ether. Can proposal also accommodate/reference forks of Rari on other chains (Rake capital on polygon) that will start appearing or that requires a separate proposal. Degen memecoin holders may have smaller token stacks and L2 Rari equivalents may be more appealing with expected gas costs into late 2023
As you said, we’re not buying or selling tokens, just servicing. Should be OK
Yessir
1a. APY on these more exotic DeFi protocols lends much higher. Some tokens that are exciting or controversial but don’t have integrations are NaN% APY until they get listed on our lending pools. We’ll target high earners first: high TVL + high APY. Exotic stablecoins are earning 20-40% APY consistently (sometimes more) at large TVL
Qualitative scoring of APY opportunity, demand, and potential. Not a huge barrier to entry for orbit.
Anticipate that only a subset of tokens that are more straightforward/technically “safe” get listed on lending pools. There is an addendum in the whitelist proposal highlighting this extra DD. Whitelist != listing.
Orbit will start as ETH Layer 1, in the future it can expand to multi-chain.
on question #1, the question was would vesper orbit TVL also be counted as vesper TVL. i.e if vesper orbit lands 200M of TVL and vesper finance pools have 500M, TVL would vesper report 700M as TVL to sites like defi pulse etc.