# GMD Protocol Bi-weekly Update Report

**URL:** <https://gov.gmx.io/t/gmd-protocol-bi-weekly-update-report/3206>\
**Category:** GMX Grants Reports\
**Created:** [February 7, 2024, 4:51pm UTC](https://gov.gmx.io/t/gmd-protocol-bi-weekly-update-report/3206 "2024-02-07T16:51:33Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![GMDprotocol](https://avatars.discourse-cdn.com/v4/letter/g/ce7236/32.png) [@GMDprotocol](https://gov.gmx.io/u/GMDprotocol)\
**Post date:** [February 7, 2024, 4:51pm UTC](https://gov.gmx.io/t/gmd-protocol-bi-weekly-update-report/3206/1 "2024-02-07T16:51:33Z")

</div>

**Date: February 7th, 2024**

**I. Executive Summary and Current Progress:**

GMD Protocol has successfully grown our GMX V2 Vaults to hold more than $9,000,000 in TVL at our peak.

Funds have been used for 2 main purposes: Removing fees into GMD’s V2 Vaults and Boosting yield to bootstrap more liquidity.

**a) Roadmap Progress:**

- GMD had started removing deposit fees on all V2 vaults on December 14th, 2023
- All pure $ARB yield were enabled on December 18th, 2023
- All 5 $ARB Airdrops of more than 15,000 $ARB have been distributed to our V2 Vault users, with the last airdrop being 20,000 $ARB

**b) Milestone/KPI Achievements:**

- TVL up until Feb 7th, 2024: $7,500,000+
- Protocol owned liquidity into vaults: $100,000
- Unique wallets into vaults: 250+
- All 3 initial milestones set for our product have been successfully surpassed
- GMD Protocol is targeting an ambitious 9m in total GMX V2 vaults TVL by the end of the period

**c) Contract Addresses:**

- GM-ETH Vault Contract: 0x5F01D28467953fDa3dc0e2828DAEAbDa0b06CDF3
- GM-BTC Vault Contract: 0xB0F3e3F5C52Ece66Fe44ac7ECedbD06B7aEc11b2