Umami Finance Grant Bi-weekly updateDate: 12/27/2023
Executive Summary: Umami Finance continues to prepare for the upcoming launch of our single sided GM vaults. Internally we are gathering partners and preparing our marketing strategy to ensure an impactful launch.
Roadmap Progress: Auditing and code finalization is underway with Guardian as we continue to make progress towards our goal of launching the vaults in January.
Milestones/KPI Achievements: Currently finalizing our first milestone of code finalization.
Dune Dashboards: N/A. The dashboard will be launched with the vault release.
II. Current Progress: Preparing marketing, finalizing code / front end and continuing business development for integrating Umami’s vaults with partner projects.III. Community Engagement: News that Umami DAO will be receiving up to 100k in ARB incentives was released in our discord and twitter last week. We also released a medium article with a deep dive into understanding the GM vaults strategy. https://x.com/UmamiDao/status/1737171568491446612?s=20IV. Partnerships and Collaborations: We have not released official partnership announcements but we have several impactful collaborations lined up.
Umami Finance Grant Bi-weekly updateDate: 1/10/2023
Executive Summary: Umami DAO is rapidly approaching the launch of its GM Vault products. All issues raised in the audit have been addressed, and the contracts have been deployed to Arbitrum Mainnet for a live testing phase to test and optimize the keepers.
Roadmap Progress: Auditing and code finalization is underway with Guardian as we continue to make progress towards our goal of launching the vaults in January.
Milestones/KPI Achievements:.
Dune Dashboards: N/A. The dashboard will be launched with the vault release.
II. Current Progress: Our vault strategies have been deployed on Arbitrum Mainnet and are being monitored.
III. Community Engagement: News that Umami DAO will be receiving up to 100k in ARB incentives was released in our discord and twitter. We are starting a new Galxe quest. We also released a medium article with a deep dive into understanding the GM vaults strategy. https://x.com/UmamiDao/status/1737171568491446612?s=20
IV. Partnerships and Collaborations: We have not released official partnership announcements but we have several impactful collaborations lined up.
Executive Summary: Umami DAO has officially launched the GM vaults on the Arbitrum Mainnet, with an audit report and vault details already submitted for review to the GMX Grants team. The initiative kicks off with seeding the GM Vault ARB emissions pool with 25,000 ARB starting February 1st. As the Total Value Locked (TVL) milestones are reached - 30,000 ARB added after achieving $2 million, and a final 45,000 ARB upon hitting $5 million - the ARB distribution intensifies. This process, which must be completed by February 31st, sets the stage for potentially high Annual Percentage Rates (APR), especially if the $5 million TVL target is swiftly achieved.
Roadmap Progress: Guardian’s audit report is complete and the vaults are launched.
Dune Dashboards: Finalizing the dashboard and will be ready for the emissions launch.
II. Current Progress: Launched yesterday on 1/22/24, the product has seen a rapid increase in depositors, boosting the Total Value Locked (TVL) to nearly $300,000, as we aim for the first $2m milestone in February.
IV. Partnerships and Collaborations: Recently in our AMA with GMX and Chainlink we went into detail about how Umami and GMX are one of the first protocols on Arbitrum using Chainlinks new low latency datastreams. You can catch clips from our AMA here. https://x.com/umamidao/status/1748063091860930894?s=46&t=dsgiMbibqN11PPpjkKo4cA
We are actively in talks with all the protocols that have integrated GM tokens like Abra and Dolomite in order to increase the GM vaults versatility.
Executive Summary: It’s officially been 1 week since the launch of our GMX Grant incentives for Umami’s GM Vaults. With 25k ARB allocated initially we saw a steady APR boost giving vaults a 30-50% APR. We are pleased to announce that we have already reached our 1st milestone of $2m TVL and an additional 30k ARB has been released to the team and added to the ARB emissions pool. Currently APR is sitting at 75% and 65% for the GM USDC and GM ETH vaults respectively!
Current Progress Update: Since the launch on 1/22/24, our product has experienced an impressive surge in depositor interest, with an average daily increase in TVL of approximately $140k now reaching $2.4m in TVL. Building on this momentum, we’ve engaged with both grants teams and the community to make a strategic decision: extending the duration of the GMX Grants program until March 15th. This extension provides an opportunity for further TVL growth and enables the release of new vault options. Ultimately, this move supports our ambitious goal of reaching a final milestone TVL target of $5m.
Roadmap Progress: Guardian’s audit report is complete and the vaults are launched. $2m TVL Milestone is achieved.
Milestones/KPI Achievements: $2m TVL
Dune Dashboards: https://dune.com/umamidao/gmx-grant-incentives
Community Engagement Update: In anticipation of our Feb 1st ARB emission launch, we’ve been actively engaging and educating our community about the program’s structure. Through comprehensive analyses and transparent communication, we’ve ensured that our community members are well-informed about the direct ARB emission schedule. Notably, our efforts have yielded positive results, with Twitter impressions on the rise. A recent hype video garnered nearly 20k impressions, demonstrating growing interest and excitement within our community.
Partnerships and Collaborations: We are actively in talks with all the protocols that have integrated GM tokens like Abra and Dolomite in order to increase the GM vaults versatility. Although these projects are extremely busy we are hopeful that our vault integrations will be implemented in a timely manner.
Executive Summary:
Three weeks into our GMX Grant incentives for Umami’s GM Vaults, we’re thrilled to report that we’ve far exceeded our TVL targets, reaching a current total of $6.3m in our GM vaults. With the full 100k GMX Grant ARB allocated and actively emitting to our gmUSDC and gmETH vaults, they now boast a total APR of 42%, 28% of which stems from incentives.
Current Progress Update: Since our launch on 1/22/24 GM vaults have gained a steady increase in TVL growth per day with 491 unique deposits. Building on this momentum, we’ve extended the duration of the GMX Grants program until March 15th allowing us to release the gmWBTC vault during this emissions program.
Roadmap Progress: Guardian’s audit report is complete and the vaults are launched. Our final $5m TVL Milestone is achieved.
III. Current Progress: As we move past $6m TVL the Umami devs are hard at work, preparing for the launch of the much anticipated gmWBTC vaults. We anticipate the launch of the BTC and ARB vaults to be in high demand, further increasing our TVL.
IV. Community Engagement Update: The community remains captivated by the entertaining AI-edited videos crafted by our very own Edis. Check them out for yourself! https://x.com/UmamiDao/status/1759593694297223202?s=20
V. Partnerships and Collaborations: Umami is pleased to announce our first GM Vault integration with TimeswapLabs. Thanks to the Time Travelers, users can borrow against their Vault tokens at fixed terms while being 100% safe from liquidations. For more information see here:https://app.timeswap.io/#/borrow/arbitrum/82306bf7-e0d8-4646-a473-5e133a5c14de
