Vesper

Bonds ​

Bonds allow VESPER to acquire assets for its Reserve. The protocol can exchange VSPR issuance for assets that become protocol-owned.

Accepted Assets ​

Bond markets can be created for whitelisted tokenized equities and stable assets.

Bond Discount ​

A bond can offer VSPR at a discount relative to its market reference price in exchange for reserve assets and a vesting period.

Vesting ​

The initial architecture targets approximately 5 days.

500.00
VSPR redeemable of an example 1,000
50.0%
vested on day 2.50
Vesting is linear over five days. Redeem part way and the rest keeps vesting to the same end date.

Why Bonds Matter ​

Bonding transforms external assets into protocol-owned reserves, but VSPR is issued in exchange. The relevant relationship is Reserve Acquired vs. VSPR Issued, because that ultimately affects backing per VSPR.

Everything settles at the close.