VesperMicro-cap

Vesper receives a B risk grade (26/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — well-audited standard yield aggregation with 4+ years of operation, balanced by external protocol dependency risk and reduced scale from peak. Vesper Finance is a yield aggregator built for longevity, offering Grow pools (in-kind yield) and Earn pools (cross-token yield) with over 50 independent audits covering all deployed contracts. Founded by Bitcoin developer Jeff Garzik, it operates with $35M in deposits. Its B grade reflects the well-understood yield aggregation model and extensive audit coverage, with moderate risk from external protocol dependencies.

The key risks identified for Vesper are: (1) Vesper deposits user funds into external DeFi protocols through yield strategies. If any integrated protocol is exploited, Vesper users in the affected strategy would lose funds even though Vesper's own contracts may be secure. (2) A vulnerability in Vesper's rebase logic was discovered in March 2023 by Dedaub. While it was never exploited and was promptly fixed, it demonstrates the complexity of managing multiple yield strategies. (3) VSP token's reduced market cap from its 2021 peak means governance economic security may be lower relative to managed assets, potentially reducing the cost of a governance attack.

Vesper scores 26/100 across eight risk dimensions: Mechanism Novelty: 0/15, Interaction Severity: 5/20, Oracle Surface: 2/10, Documentation Gaps: 2/10, Track Record: 6/15, Scale Exposure: 3/10, Regulatory Risk: 3/10, Vitality Risk: 5/10. The highest risk area is Vitality Risk at 5/10.

Among 116 rated Yield protocols on Hindenrank, Vesper ranks #12 by safety (lowest risk score = safest). Its 26/100 risk score and B grade place it among the safer Yield protocols.

Vesper scores 6/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.