Thread by @DeltaPrimeDefi

Yesterday we posted an announcement in our Discord with a couple of important updates.

In this smol thread we share the same announcement, so everyone is up to date🫡

- Current borrowing rates
- This week's $GLP rate
- Platypus reimbursement
- What's coming

🧵1/11

gm! Couple of updates

1⃣ We just got a couple million extra in the pools from our DeltaPrime frens🙌This significantly lowers borrowing rates to:

#AVAX 12.32% -> (now 12.57%)
#USDC 13.68% -> (13.49%)
#USDT 8.45% -> (9.27%)
#BTC 7.43% -> (7.56%)
#ETH 7.89% -> (9.29%)

2/11

2⃣Simultaneously $GLP yields will still be high in at least the next 8 days, with an expected base APR of 34.07% (-> 33.68%), leading to a @yieldyak_ $GLP farm base APY of 40%-45% (-> 49.1%).

How high can you get that?

3/11

🐂Bulls borrow stables ( $USDC, $USDt) to mint $GLP.

🐻Bears borrow a (combination of) non stables ( $AVAX, $BTC.b, $WETH.e) to mint $GLP.

🦀Crabs partially hedge their position by taking the weights as shown in the @GMX_IO dashboard to reduce their exposure to a minimum.
4/11

3⃣@Platypusdefi reimbursement are incoming 💰👍

@vector_fi is currently working on getting the contracts ready, so we'll soon be updated on that.

As Vector received 52% of the provided funds this round, we will receive 52% of the provided funds as well.

5/11

So if you had 100 USDC in the pool, you will receive 52 USDC in your Prime Account.

Keep in mind that if you compounded this pool with borrowed funds, the debt is compounded as well, potentially leading to no, or low collateral for your specific Prime Account.

6/11

Our collected reimbursement fees in the 4 days after the exploit will be redistributed over the accounts to make all depositors whole (surplus below, BTC is $0.01 in the red)

Leftover reimbursement fees are then redistributed over affected borrowers, based on stake 🫡

7/11

4️⃣ As you know, we are getting a lot of upgrades ready.

We recently posted a tweet asking you what you want us to put the most focus on, and a lot of you mentioned that Depositor loyalty rewards should be our main priority rn.

You ask, we deliver👍

8/11

While we put extra workload on this, do know that it isn't "either / or".

From Nightmode to the stats page, and everything in between, it's all coming thoon.

.

9/11

We aim for (and so far maintained) one value-bomb every two weeks, yet in the end safety is our #1 priority.

So forgive us if one of these bangers takes two-point-five weeks instead of two 😉

10/11

That's it for today sers and serdesses. Have an awesome Wednesday, remember to optimize your Prime Account,

and Let's. [Redacted]. G. 🫡🫡🫡