Lending Protocol Vesta Finance Establishes Emergency Reserve

November 25, 2022 - Around 1 mins mins to read

Arbitrum-based lending protocol Vesta Finance announced the official launch of Vesta Emergency Reserve, whose top priority is to compensate users in the event of a shortfall event.

Lending Protocol Vesta Finance Establishes Emergency Reserve

According to Vesta Finance, all fees accrued thus far and in the future within the Vesta ecosystem will automatically be added to the Vesta Emergency Reserve.

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Where do all the fees in Vesta go?

Today, we announce the formalization of ???????????????????? ???????????????????????????????????? ???????????????????????????? ????

Also a reminder that the new fee schedule ???? will kick in tomorrow!

⬇️https://t.co/qPWSDyfqij
— Vesta (@vestafinance) November 25, 2022

The project’s developers claim that even though such a reserve was never explicitly stated before, the way they handled Vesta’s fee revenue was comparable to an emergency reserve because they only used the money to compensate users.

They are thinking about implementing a community-driven fee-sharing system in the future.

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