VSP Buybacks + Emissions Update

Summary

Restart buybacks of VSP for esVSP holders and set intentions for buybacks and VSP emissions into the future.

Abstract

While Vesper has emphasized bad debt repayment from revenue generated, the VSP buyback mechanism has been paused in favor of treasury emissions.

This proposal reintroduces the buyback mechanism as a supplement to VSP emissions with a fixed USD denominated monthly buyback target.

Initially, no further changes will be made to revenue policy or emissions.

However, this proposal also sets the following intentions:

• To iteratively increase buybacks to the original percentage of revenue earned before buybacks were paused.
• To sunset VSP emissions altogether.

Specifications

• Introduce $3,000/mo worth of VSP buybacks, delivered to esVSP holders.
• Seek to increase VSP buybacks beyond $3,000 to a maximum of 40% of total revenue, per the specifications of the previous revenue share policy.
• Begin reducing monthly VSP emissions from 20,000/mo, with an end target of 0/mo.