1/ ICYMI, I gave alpha on delta-neutral strategies built on top of @GMX_IO.
Now, @rage_trade's delta-neutral $GLP vaults recently went live & both risk-off/on vaults were filled within minutes, bringing in an additional $10M to the #GMX ecosystem.
The risk-on vault is currently yielding ~15.7% while being fully delta neutral, of which:
10.3% are from $GLP rewards
4.7% are from $esGMX which are autocompounded
3.27% are from #GMX traders’ PnL
-2.52% are paid to #AAVE as borrowing interest
3/ At the same time, the risk-off vault is yielding ~5.4%, comprising of:
$GLP rewards - 4.7% #AAVE Lending (and the risk on vault) - 0.7%
1/ @GMX_IO's innovative design has allowed it to flourish into its own ecosystem through $GLP yield & ready-made delta-neutral strategies w/ @UmamiFinance@GMDprotocol@rage_trade
To help you learn how, I've published a FREE 59 page research report🧵👇
2/ First, a recap of how $GLP works and why delta neutrality is a big deal.
3/ $GLP is @GMX_IO’s liquidity token. It is a basket of assets comprising 50% volatile assets ($BTC / $ETH / $LINK / $UNI) and 50% stablecoins. It acts as a counterparty to traders on #GMX.
If traders lose, $GLP stakers win. And vice versa.