Umami’s premiere Delta Neutral USDC Vault is only days away from launch! 👀
Want to get up to speed? Check out this 🧵 for an overview!
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Want to get up to speed? Check out this 🧵 for an overview!
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Umami’s core value proposition can be summarized in one phrase: #RealYield.
The $UMAMI token & its $USDC Vault source APR from sustainable protocol revenues, not inflationary emissions.
The USDC Vault also hedges out virtually all mkt risk!
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The $UMAMI token & its $USDC Vault source APR from sustainable protocol revenues, not inflationary emissions.
The USDC Vault also hedges out virtually all mkt risk!
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The Vault is built in partnership w/ @GMX_IO & @TracerDAO.
It sources real protocol revenues via GMX’s $GLP token & neutralizes mkt risk via liquidation-proof hedges from Tracer.
The result: ~20%+ APR in $USDC! 👇
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It sources real protocol revenues via GMX’s $GLP token & neutralizes mkt risk via liquidation-proof hedges from Tracer.
The result: ~20%+ APR in $USDC! 👇
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But how? Glad you asked! 😉
1. Users deposit $USDC & receive $usdGLP, a tradable receipt token.
Using the deposited USDC, the vault mints $GLP & Tracer’s 3x leveraged $BTC & $ETH hedging derivatives.
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1. Users deposit $USDC & receive $usdGLP, a tradable receipt token.
Using the deposited USDC, the vault mints $GLP & Tracer’s 3x leveraged $BTC & $ETH hedging derivatives.
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2. $GLP pays out protocol revenues in $ETH. It also emits $esGMX + MP incentives, which are staked for more $ETH yield.
$GLP's yield comes from exchange fees & trader liquidations, it tends to outperform volatile markets.
See performance here: stats.gmx.io
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$GLP's yield comes from exchange fees & trader liquidations, it tends to outperform volatile markets.
See performance here: stats.gmx.io
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3. The vault rebalances its hedges daily to maintain ~0 mkt exposure using a proprietary model from @BalanceOt.
Its Tracer hedges are staked for $TCR rewards, which are auto-swapped for USDC!
Learn more about Tracer’s Perp Pools:
pools.docs.tracer.finance/perpetual-pool…
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Its Tracer hedges are staked for $TCR rewards, which are auto-swapped for USDC!
Learn more about Tracer’s Perp Pools:
pools.docs.tracer.finance/perpetual-pool…
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4. Depositors can withdraw deposited $USDC + APR earned (also in $USDC) anytime, subject to a 24 hour unlock period.
They will also be able to swap $usdGLP for stables on @UniswapLabs!
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They will also be able to swap $usdGLP for stables on @UniswapLabs!
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Tl;dr?
With Umami’s vault, users deposit $USDC, hedge out ~99.9% of market risk, and earn ~20%+ APR in $USDC.
It’s a DeFi strategy tailor-made for the bear market!
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With Umami’s vault, users deposit $USDC, hedge out ~99.9% of market risk, and earn ~20%+ APR in $USDC.
It’s a DeFi strategy tailor-made for the bear market!
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BONUS ROUND!
@UmamiFinance is in talks with partner protocols to provide lend/borrow for $usdGLP!
It will also be insured by @InsurAce & @Riskharbor as well as audited by @Zokyo_io! 🔒
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@UmamiFinance is in talks with partner protocols to provide lend/borrow for $usdGLP!
It will also be insured by @InsurAce & @Riskharbor as well as audited by @Zokyo_io! 🔒
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Want in?
$UMAMI stakers are Whitelisted for vault deposits starting in July!
Select partner protocols and funds are also getting early access. Join Umami’s Discord for more info. 💪
Link: discord.gg/zn6hsTmTSM
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$UMAMI stakers are Whitelisted for vault deposits starting in July!
Select partner protocols and funds are also getting early access. Join Umami’s Discord for more info. 💪
Link: discord.gg/zn6hsTmTSM
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