At some point in time you might have played a PSP homebrew game. Now, developer Yifan Lu has started a project called Usermode Vita Loader, to create Vita homebrew games.

The Usermode Vita Loader will allow developers to create homebrew games for the Vita, using Vita code.
The project is allegedly based on a PS Vita exploit found by Yifan Lu, but no details have been revealed. At this stage only a few lines of code have been written.

Being in such an early stage, there is no release date and it doesn't work, but Yifan Lu is actively seeking developers to assist in the project.

Lu said he would be updating details on his personal blog.