Vesper Pools Launch
ThorFi Launches Vesper Pools
In addition to our recent announcement to phase out Single-Sided Staking pools, we at ThorFi are now offering a similar utility to the one that the SSS pools provided. We will now offer rewards in tokens other than $THOR.
You may recall that our LP (Liquidity Pool) and SSS (Single-Sided Staking) pools offered immediate and real value to our community by providing ways to lock up and earn $THOR. Still, months after introducing these pools, the emissions associated with SSS rewards became heavier.
By introducing new pools instead, we create a unique “win-win” model where the community gains access to new pools, users earn new tokens as rewards, and $THOR gains a clear new utility and function.
In addition to this large increase of utility and decrease in emissions — our new staking suite opens a brand new revenue stream. As the pool operators, Thor receives revenue from our nominal staking fees, plus external revenue in the form of $VSP, serving as an additional buy pressure for the $THOR token.
Pools Going Live Today
How It Will Work
These pools require the $THOR token to be locked up to gain access. Then the community will be able to stake the respective token held on the AVAX network, with rewards returned in the chosen staked token, the Vesper token ($VSP), and for some, even the $THOR token. On launch day, we will boost the rewards for all 7 seven pools by a variable percentage via the $THOR token based on TVL. With this setup, we will drastically reduce the emissions versus Single-Sided Staking.
While the amount of $THOR required is low per person, this allows a more extensive audience both in and out of the community to buy $THOR and lock it up to access these pools.
You will need to stake 10 $THOR tokens to access these pools to participate.
- Until all deposits and rewards are withdrawn, $THOR will remain staked in the pool.
- There will be a 2-hour warm-up period with a 0% withdrawal fee if users change their minds about depositing in the pools.
Note: The initial 10 $THOR required to access the pools is subject to change based on TVL.
Should you choose to withdraw from the pools at any time, we created a fee structure with the intent to even the playing field.
- Investments of $0 — $10,000 will have a .5% withdrawal fee for each pool.
- Investments of $10,000+ will have a 1% withdrawal fee for each pool.
- This Fee Structure allows the “Small Fish” to get ahead with lower fees while allowing the “Whale” to auto-compound via their more significant stake, recouping the fee either way.
Please also note that Vesper has a “Universal Fee” charging 2% annually on the assets deposited at rebalancing time. If this fee is greater than 50% of the interest earned, then the fee will only equate to 50% of the interest earned.
Due to the additional $THOR token incentive related to the pools and our minimal fee structure, users will be motivated to stake through ThorFi rather than just going through Vesper directly.
The diagram below illustrates how this will flow:
A Review of What This Staking Structure Accomplishes
We’re proud to launch Vesper pools for several reasons. Through them, we reduce emissions of $THOR through our “Stake-to-Access” model for the Vesper pools, increase the utility of $THOR, and offer new and appealing rewards to stakers. The structure benefits Thor node holders and new users looking to utilize THOR’s ecosystem staking suite.
As we shape the future of ThorFi, collaboration with top protocols is a strategic priority. This announcement is no exception; we look forward to enjoying its benefits.
Please note the end block of our old SSS pool has ended — withdraw & deposit buttons will be removed entirely by tomorrow. If you missed the window to withdraw from the staking pools, please visit the “support” channel in our discord and our mod team will be ensuring you will get your deposited $THOR back.
With thanks to our community,
The ThorFi Team