Category: News, NFT News

Vector Reserve Introduces ‘Liquidity Position Derivative’

vETH is collateralized by a basket of Ethereum liquid staking and restaking tokens.

Amid the ongoing liquid restaking boom, Ethereum-based DeFi protocol Vector Reserve has launched vETH, a novel Liquidity Position Derivative (LPD) backed by a basket of yield-bearing tokens.

vETH, which can be minted with Lido’s stETH, Renzo’s ezETH, ether.fi’s eETH, KelpDAO’s rsETH and regular WETH, has achieved a market capitalization of $5.2M since launching five days ago.

vETH Market Cap

Meanwhile, the project’s VEC token, which the documentation calls a “multi-dimensional reserve asset,” has tripled in value since its launch, trading at a circulating market cap of $35M.