GMD Protocol Bi-Weekly Update

Date: January 24th, 2024

I. Executive Summary and Current Progress:

GMD Protocol has successfully grown our GMX V2 Vaults to hold more than $8,500,000 in TVL. Still 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: $8,500,000+
  • 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

d) Special:

  • For our last round of $ARB Airdrop, we will be airdropping 20,000 $ARB instead of $15,000, since we still have enough for the replacement of the deposit fees. We’d decide the spare amount would be best used by giving back to the community.