What is Vesper?
Vesper is a DeFi (decentralized finance) ecosystem and growth engine for your crypto assets. It uses yield-generating pools (or yield farming) by locking crypto assets into liquidity pools.
Yield farming essentially involves providing liquidity to decentralized exchanges in return for rewards in native governance tokens.
Vesper works as a "meta-layer" for DeFi by routing deposits to the highest yield opportunities within risk tolerance for the particular pool.
The entire ecosystem is governed by Vesper's native token VSP. VSP is an ERC20 token that gives holders voting rights for proposals on the network, as well as the opportunity to passively accumulate VSP rewards!
You can find more information on Vesper on their official website here.
In order to buy or sell VSP, this will need to be done via the Coinmetro Exchange Platform by placing a limit order. Unfortunately, Market Orders & swaps for VSP are not currently available but will be enabled in the near future. We will also be looking to support additional fiat pairs such as EUR based on demand!
How to Deposit VSP Into Your Coinmetro Account
If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts, or use a full ETH wallet as an intermediary.
As Coinmetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000 for ETH. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk for loss of assets caused by a too low gas limit.
How to Withdraw VSP From Your Coinmetro Account
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be verified via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be cancelled and withdrawal status can be found by selecting the wallet on the GO! Dashboard. Approved withdrawals cannot be cancelled. If there is no Cancel button, there should be a transaction ID (TXID). This is a link to the relevant tx hash (Transaction Hash) on a blockchain explorer website.
You can also earn a passive income by staking your VSP at Coinmetro!
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