Jeff Garzik’s DeFi Protocol Vesper Finance surpasses the total value of $ 1 billion suspended in six weeks

Vesper Finance, a recently released DeFI performance suite co-founded by former Bitcoin core developer Jeff Garzik, Within six weeks of launching on the mainnet, the company exceeded a total banned value of $ 1 billion.

Garzik, also an executive at blockchain technology company Bloq Inc, tweeted the news on March 23, revealing that the team had opened its smart contracts. Vesper’s CEO also noted that the protocol’s open source portable NFT container can be used to package, transfer, and auction any number of non-fungible tokens and ERC-20s.

The protocol has seen spectacular growth since it amassed $ 25 million in its beta phase from December 22nd to February 17th. By March 9, Vesper’s total banned value had risen to $ 500 million before doubling in the past fifteen days.

Jeff Garzik’s DeFi Protocol Vesper Finance surpasses the total value of $ 1 billion suspended in six weeks
Jeff Garzik’s DeFi Protocol Vesper Finance surpasses the total value of $ 1 billion suspended in six weeks

According to DeFi Llama, a decentralized financial analysis provider, Vesper is currently the 15th largest protocol with a TVL of $ 1.09 billion across Badger DAO and behind Car Farm.

The platform currently offers five unique asset pools that offer returns to investors who deposit DAI, USDC, ETH, WBTC or VSP, Vesper’s native token.. For most assets, depositors are also offered rewards in the form of VSPs.

The WBTC vault is currently the most popular pool at nearly $ 420 million, followed by ETH at $ 382 million, USDC at around $ 222 million, and VSP at $ 72 million. Only $ 259,074 was deposited into the DAI pool.

All of Vesper’s current funds carry a “conservative” risk. and the team states that funds with a higher risk profile will be launched in the future.

Vesper Finance was also co-founded by billionaire investor and co-founder of Bloq, Inc., Matthew Roszak, and head of DeFi, Jordan Kruger, Bloq, Inc.

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