D2 Finance Grant Bi-Weekly Update
Date: Jan 09, 2024
I. Executive Summary:
a) Roadmap Progress
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D2 Finance has successfully launched the ETH++ Vault with an $80k cap limit. This vault trades within GMX perps and GM farms
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D2 Finance will launch the Rodeo++ vault next week with $115k cap limit. This vault deploys up to 75% in Rodeo Finance leveraged integration of GM farms complemented by a mix of convex and directional hedges.
b) Milestone/KPI Achievements
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D2 Finance has successfully met Milestone 2 ahead of the Jan 15 schedule with over $250k notional perp volume traded in GMX from Dec 23 to Jan 09
- Milestone 2 - Jan 15th - Target TVL 40k , Target Volume 200K in GMX for the period (22 Dec 19Th January):: 12.5k ARB
c) Dune Dashboards
- The Dune dashboard for reporting will be built starting Jan 10-11 by Shogun (GMX)
II. Current Progress:
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ETH++ Market launched ($80k cap)
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Rodeo++ Market ($115k cap) to be announced this week (D2 deploying up to 75% of vault funds into Rodeo GM Leverage farm integration)
- Rodeo has received ARB incentives from GMX. This makes the opportunity particularly attractive for the duration of these incentives and possibly beyond depending on GM market opportunities.
- Risk: The delta exposure ranges from +40 to +60% of ETH, which is equivalent to investing in GM ETH. However, it offers less downside risk in tail events due to the convex and directional hedges.
- Rodeo++ is aligned more conservatively and is designed to yield a smoother return profile compared to direct investments in GM ETH Vault.
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DSQ token to be sunset Jan 10, voluntary D2 token airdrop to begin Jan 10-15. This is to position to meet regulatory requirements before onboarding for Institutional contacts funds
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Engaged Hackathon Participants to improve D2 Finance UI / Analytics
III. Community Engagement:
- D2 Finance welcomes 4 new Rangers. Rangers are token holders with a meaningful stake in the protocol aligned with D2 goals based on mutual interest and economic incentives.
https://d2finance.shinyapps.io/ranger/
IV. Partnerships and Collaborations:
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Official Partnership with Rodeo Finance to be announced next week
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On-going discussion with Dolomite
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Camelot partnership for GRAIL++ to be announced