Vesper Documentation
  • Introduction
  • Vesper Features
  • Vesper Participants
  • Vesper Pools and Strategies
    • Vesper's Modular Pool Architecture
    • Multi-Chain and Cross-Chain Deployments
    • Overview of Vesper Pools
      • Vesper Grow Pools
    • Overview of Vesper Strategies
      • Maker-to-Platform Strategy
      • Direct-to-Lending-Platform
    • Discussion of Risk
  • VSP Economics
    • VSP Token: Supply, Issuance, & Rewards
    • Governance
      • Introduction
      • Locking
      • Unlocking
    • Revenue Model
  • Community Participation
    • Decentralization Plan
    • The Voting Process
    • Governance Principles
  • Vesper Developers
    • Vesper Developer's Guide
      • Introduction
      • Vesper Framework Levels
      • Overview of Flow Control
    • Vesper Pool Metadata
    • Pool and Strategy Creation and Deployment
    • Vesper Contracts API Reference
      • Pool Contracts
        • PoolAccountant
        • PoolAccountantStorage
        • PoolRewards
        • PoolRewardsStorage
        • PoolStorage
        • VETH
        • VPOOL
        • VesperEarnDrip
      • Strategy Contracts
        • Earn
        • Strategy
        • VesperStrategy
        • EarnVesperStrategy
        • EarnVesperStrategyVSPDrip
    • JavaScript Library
    • Contracts Data
    • Vesper Improvement Proposal Template
  • Marketing
    • Brand Guidelines & Assets
  • Reports
    • Quarterly Reports
    • Smart Contract Audits
  • FAQ
  • Glossary of Terms
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  1. VSP Economics
  2. Governance

Unlocking

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Last updated 1 year ago

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The concept of an early unlock fee is not new within DeFi, acting as a safety net to encourage users to stay in the ecosystem. With Vesper, this early unlock fee is the penalty you would pay if you decide to unlock your VSP before the end of your chosen lock-up period. The initial penalty starts at 50%, and decreases linearly over time until the lock expires when it becomes 0%. Any penalty fees collected in this way go back to the Vesper DAO Treasury.

How does it work?

To determine the penalty involved in an early unlock, you can use the following formula:

User’s Locked Balance * Remaining Time * Maximum Penalty / Total Lock Duration

Example

Let’s say you locked your VSP for 1 year, but after 6 months, you decided to withdraw them early.

Given the penalty decreases linearly from 50% to 0% over the course of the lock duration (1 year in this case), at the halfway point (6 months), your penalty would be 25%.

If you had locked 100 VSP, you’d pay 25 VSP as a penalty for unlocking them early.

How To Unlock

  1. Visit and connect your wallet

  2. Click “Manage” on the position you wish to unlock

  3. At the top of the popup, select “Unlock” - Here you will see how many days you have left until you get a penalty free unlock

  4. If you do not want to wait, enter in the amount you want to unlock - Make sure you are comfortable with the early unlock penalty fee

  5. Confirm the translation

https://app.vesper.finance/eth/locked-vsp