# GMD Protocol Bi-Weekly Update **URL:** \ **Category:** GMX Grants Reports\ **Created:** [January 10, 2024, 9:52pm UTC](https://gov.gmx.io/t/gmd-protocol-bi-weekly-update/3078 "2024-01-10T21:52:58Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![GMDprotocol](https://avatars.discourse-cdn.com/v4/letter/g/ce7236/32.png) [@GMDprotocol](https://gov.gmx.io/u/GMDprotocol)\ **Post date:** [January 10, 2024, 9:52pm UTC](https://gov.gmx.io/t/gmd-protocol-bi-weekly-update/3078/1 "2024-01-10T21:52:58Z")
**Date: January 10th, 2024** **I. Executive Summary and Current Progress:** GMD Protocol has successfully grown our GMX V2 Vaults to hold close to $6,000,000 in TVL. Targeting an ambitious goal of 9m by the end of the grant period 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 - 2 $ARB Airdrops of more than 15,000 $ARB have been distributed to our V2 Vault users **b) Milestone/KPI Achievements:** - TVL up until Jan 10th, 2024: $6,979,000 - 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 ---
**Author:** ![GMDprotocol](https://avatars.discourse-cdn.com/v4/letter/g/ce7236/32.png) [@GMDprotocol](https://gov.gmx.io/u/GMDprotocol)\ **Post date:** [January 11, 2024, 7:16pm UTC](https://gov.gmx.io/t/gmd-protocol-bi-weekly-update/3078/2 "2024-01-11T19:16:01Z")
We have now reached a $7,000,000 TVL goal for the GMX V2 Vaults