Skip to main content

VSP - Vesper

Sophie avatar
Written by Sophie
Updated over a month ago

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!

How to Deposit VSP Into Your Coinmetro Account

For all information on how to deposit VSP into your Coinmetro account, please see the following help center article:
โ€‹

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. 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 of loss of assets caused by a too-low gas limit.

If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts or using a full ETH wallet as an intermediary.
โ€‹

How to Withdraw VSP From Your Coinmetro Account

For all information on how to withdraw VSP from your Coinmetro account, please see the following help center article:
โ€‹

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 confirmed 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 the withdrawal status can be found by selecting the Wallet on your Coinmetro Dashboard. Please note that already-approved withdrawals cannot be canceled. If there is no Cancel button visible, this unfortunately means the withdrawal can no longer be canceled, and you will find a transaction ID (TXID) instead. This is a link to the relevant transaction hash on a Blockchain Explorer website where the status can be checked further.

Staking

You can also earn a passive income by staking your VSP at Coinmetro!

Did this answer your question?