Vesper Finance
VSP
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Vesper Finance (VSP) reflects a legacy DeFi yield protocol that has lapsed into near-total dormancy. Active development is virtually stalled with no recent GitHub releases, audits, or roadmap delivery since the 2021-2022 era. While the protocol retains transparent tokenomics with 94% circulating supply and fully vested schedules, economic demand and utility have collapsed, evidenced by negligible daily trading volume ($12-$85) and an illiquid market cap around $1.2M (down ~99.8% from all-time highs). Community and governance activity are similarly moribund, despite a reputable founding team and verified historical audits with no confirmed unresolved protocol exploits. Given the absence of active shipping, minimal liquidity, and low governance engagement, VSP presents an unfavorable risk-reward profile.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Vesper Finance (VSP)
Vesper Finance (VSP) is an Ethereum-native decentralized finance (DeFi) yield optimization and vault protocol. Co-founded by Jeff Garzik and Michael McQuaid, the platform was created to provide automated yield-generating strategies through pooled deposits. The VSP token serves as the protocol's governance mechanism and can be locked for esVSP to participate in protocol revenue sharing. At launch, the protocol incorporated a 12-month timelock on the token minting function alongside a planned transition toward progressive decentralized autonomous organization (DAO) governance.
The protocol's core smart contracts underwent an audit by Coinspect in February 2021, which reported no high-risk vulnerabilities, and the project maintains a bug bounty program on Immunefi. VSP has a total fixed supply of 10,000,000 tokens. Historical vesting schedules have fully concluded, leaving approximately 9.4 million tokens (94% of the total supply) in circulating supply with no remaining cliff unlocks.
In recent years, Vesper Finance has transitioned into a near-dormant operational state. Active development has stalled, with no major GitHub releases, new smart contract audits, or updates to its 2021–2022 roadmap. Protocol activity has contracted, including the retirement of its Avalanche pools, while governance forum participation has become largely inactive. Market demand has experienced a severe decline, with VSP falling approximately 99.8% from its all-time high of roughly $79 down to approximately $0.13, accompanied by negligible daily trading volume and a market capitalization of around $1.2 million.