Vaultka Grant Bi-Weekly Update

GMX Grants Reports
1

Vaultka Grant Bi-Weekly Update

Date: Dec-13 2023

I. Executive Summary:

a) Roadmap Progress

GM Leverage Delta Neutral Pool for [ARB-USDC], [ETH-USDC], and [BTC-USDC] pair were launched on Nov-15 2023. Until Dec-12, a total of $4.8 million TVL has been created for the 3 GM pools. By depositing in the GM Leverage (Neutral) Pool, users benefit from leveraged real yields generated by GMX V2 protocol fees, all while avoiding concerns about price fluctuations due to the pseudo delta-neutral position. Price fluctuation risks only come into play when the pool ratio deviates from 50:50, and these are mitigated through GMX’s deposit fee in GM pools.

The GM Index Token is currently in the development phase and is set to commence testing in the upcoming weeks. This token presents users with the opportunity to acquire a basket of GM tokens using a single asset, enabling diversification across various pools and assets. Vaultka will maintain an optimal pool composition ratio to ensure users avoid excessive exposure to any single asset.

b) Milestone/KPI Achievements (as of Dec 12 2023)

Total TVL for GM Related Vaults = $6,505,702

  • TVL of GM Leverage (Neutral) Vault: $4,842,976

  • TVL of GM Leverage Vault: $1,662,726

Average Utilization Rate: 54.2%

Number of Unique Addresses: A cumulative 1762 users have used either GM Leverage or GM Leverage (Neutral) Vault

c) Dune Dashboards

II. Current Progress:

The ARB incentives received from the GMX Grant has already successfully attracted about $4 million TVL in the USDC Lending vault (the lending vault exclusively used to support GM Leverage and GM Leverage (Neutral) vault). With a pool size of roughly $6.1 million, the GMX ARB rewards are bringing a roughly additional 7% to the lenders, which continuously provide concrete support to the leverage activity in GM leverage vaults.

The current Utilization rate is sitting at around 50%, indicating that there is still room for more leverage activities. With the ARB incentives on GMX itself and the high APR brought by the recent rise in GM price, it is believed that the leverage vaults alone are attractive enough and will eventually grow the utilization rate.

But besides the leverage APR from GM itself, the esVKA emission for GM Leverage (Neutral) vault is also enabled, so that users can be benefited from additional esVKA emission by staking their deposits. This provides an additional incentive for users to use the leverage vaults.

III. Community Engagement:

Twitter posts:
Yield Summary on USDC Lending: https://twitter.com/Vaultkaofficial/status/1730519439689617897

Yield Comparison across all lending pools: https://twitter.com/Vaultkaofficial/status/1733826410056454380

Alt-coin lending yields: https://twitter.com/Vaultkaofficial/status/1731644716608008607

Announcement on Extra rewards from GMX:

Lending Yield Highlight:

Discord Announcements:

Announcement of Grant Receival from GMX

Announcement for Extra Rewards on USDC Lending

IV. Partnerships and Collaborations:

  1. Strategic Partnership with Radiant

  • User deposits in Vaultka’s lending pool trigger seamless fund deposits to Radiant for additional lending interest.

  • Leverage users initiating positions in strategic vaults to prompt Vaultka to withdraw lending funds from Radiant to finance positions in the underlying protocol.

  • Lenders’ withdrawals result in Vaultka withdrawing lending funds from Radiant to fulfill user requests.

  • The integration will start with the Vaultka USDC.e lending pool. More lending pools are queued for integration.

  1. Partnership with Timeswap

  • A $VKA/USDC pool will be integrated into Timeswap, giving users the ability to lend and borrow $VKA by depositing $USDC.e as collateral.

  • Lenders can then earn a fixed rate on their lendings, while borrowers can strategize their $VKA borrowings to maximize their yields and adjust their risk exposure.

  • Users can also provide liquidity to the pool to act as a middleman of the lending and borrowing pool and earn transaction fees in turn.

  1. Treasury Swap and Bribery from Vela Exchange

  • Vaultka exchanged ~$50k $esVKA for $esVELA, aiming to diversify the treasury and gather additional yields.

  • Vela Exchange also offered 1750 $VELA as a reward for users participating in voting for the VLP Leverage Vault. Stakers of $VKA and $esVKA can earn additional bribery rewards by engaging in this voting process, enhancing their overall rewards.

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2

Vaultka Grant Bi-Weekly Update

Date: December 27, 2023

I. Executive Summary:

a) Roadmap Progress:

  • As of December 24, a total of $7.7 million TVL has been created by GM Leverage and GM Leverage (Neutral) Vault.
  • The USDC Lending TVL is currently at $5.7 million, with a 58% utilization rate.
  • Lending TVL and TVL brought to GMX ecosystem have already reached the originally set target.
  • The GM Index Token is still in the development phase. More details on the mechanism design will be announced soon on Vaultka’s official media pages.
  • Launching GM Compounding Vault that compounds ARB rewards from GMX into GM pools.

b) Milestone/KPI Achievements (as of December 24, 2023):

  • Total TVL for GM Related Vaults: $6,505,702
  • TVL of GM Leverage (Neutral) Vault: $4,842,976
  • TVL of GM Leverage Vault: $1,662,726
  • Average Utilization Rate: 54.2%
  • Number of Unique Addresses: A cumulative total of 1914 users have used either GM Leverage or GM Leverage (Neutral) Vault.

c) Dune Dashboards:

Check out our Dune dashboards for more detailed information: Vaultka GMX Grant Dashboard

II. Current Progress:

  • The ARB incentives have continued to attract TVL to the USDC Lending pool, which now amounts to $5.7 million as of December 24, representing a slight increase compared to two weeks prior.
  • The growth of the USDC Lending Pool size is slowing due to the fixed size of ARB incentives, as anticipated.
  • The lending pool will persist in providing USDC reward sharing and esVKA emissions to further attract lending capital.
  • GM Leverage and GM Leverage (Neutral) Vault have maintained their attractiveness, experiencing a growth of over $1 million in just two weeks.
  • Particularly for GM Leverage Vault, users are generating substantial gains due to underlying asset price increases and heightened trading activities.

III. Community Engagement:

IV. Partnerships and Collaborations:

Integration with OKX Web3 Wallet:
Vaultka has integrated with the OKX Web3 Wallet, allowing users to directly lend their USDC.e through the OKX Wallet Interface. This integration is expected to bring in more lending capital to Vaultka due to the large user base of OKX Wallet and the convenience it offers in interacting with their applications.

Launching of ALP Leverage Vault for ApolloX:
Vaultka has launched their new strategic vault for ApolloX ALP Leverage. Users can now earn leveraged real yield from ApolloX and CAKE rewards on top, with the auto-staking of ALP onto PancakeSwap.

Bribery Rewards from Vela Exchange and ApolloX:
Partnerships with Perp DEX continue to incentivize voters to vote on their corresponding strategic vaults on Vaultka, directing esVKA into their vaults to enhance attraction. This indicates that the $VKA War remains heated, with Perp DEX vying for votes to attract more TVL.

3

Vaultka Grant Bi-Weekly Update

Date: January 10, 2024

I. Executive Summary:

a) Roadmap Progress:

  • As of January 9, a total of $8.3 million TVL has been created by GM Leverage and GM Leverage (Neutral) Vault.
  • The USDC Lending TVL is at $4.3 million, with a 97% utilization rate.
  • The GM Index Token is in final integration phase. Detailed Mechanism is expected to release next week.

b) Milestone/KPI Achievements (as of January 9, 2024):

  • Total TVL for GM Related Vaults: $8,387,973
  • TVL of GM Leverage (Neutral) Vault: $5,471,266
  • TVL of GM Leverage Vault: $2,916,707
  • Average Utilization Rate: 96.7%
  • Number of Unique Addresses: A cumulative total of 2169 users have used either GM Leverage or GM Leverage (Neutral) Vault.

c) Dune Dashboards:

Check out our Dune dashboards for more detailed information: Vaultka GMX Grant Dashboard

II. Current Progress:

  • The USDC Lending Pool TVL has slightly dropped, while the demand for leverage vaults keep increasing, causing the utilization rate to spike
  • The drop of TVL has caused the APR for ARB incentives to increase, amounting to ~9%
  • The lending pool will persist in providing USDC reward sharing and esVKA emissions to further attract lending capital.
  • GM Leverage and GM Leverage (Neutral) Vault have maintained their attractiveness, experiencing a growth of over $500k in two weeks.

III. Community Engagement:

IV. Partnerships and Collaborations:

HMX joining VKA Bribery
HMX has joined the bribery of VKA voting by supply $HMX token to $VKA holders who vote for esVKA emission to HMX Leverage Vault.

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4

Vaultka Grant Bi-Weekly Update

Date: January 24, 2024

I. Executive Summary:

a) Roadmap Progress:

  • As of January 24, a total of $12.5 million TVL has been created by GM Leverage and GM Leverage (Neutral) Vault.
  • The USDC Lending TVL is at $7.6 million, with a 94% utilization rate.
  • Launch LINK Lending pools to support LINK GM Strategies
  • The GM Index Token is in final testing phase, and will expect to launch in the coming 1-2 weeks. Detailed Mechanism has been released in Vaultka’s Medium

b) Milestone/KPI Achievements (as of January 24, 2024):

  • Total TVL for GM Related Vaults: $12,505,109
  • TVL of GM Leverage (Neutral) Vault: $6,703,527
  • TVL of GM Leverage Vault: $5,801,582
  • Average Utilization Rate: 94.2%
  • Number of Unique Addresses: A cumulative total of 2392 users have used either GM Leverage or GM Leverage (Neutral) Vault.

c) Dune Dashboards:

Check out our Dune dashboards for more detailed information: Vaultka GMX Grant Dashboard

II. Current Progress:

  • The USDC Lending Pool TVL has grew since last week, supporting more leveraging activities in GM related strategic vaults
  • The rise of lending pool size has caused the APR for ARB incentives to decrease, amounting to ~5%
  • The lending pool will persist in providing USDC reward sharing and esVKA emissions to further attract lending capital.
  • GM Leverage and GM Leverage (Neutral) Vault have maintained their attractiveness, experiencing a growth of over $4mil in two weeks.

III. Community Engagement:

IV. Partnerships and Collaborations:

AMA Round table with GMX, Vela, APX, and AARK
Vaultka hosted a special AMA with the leading PerpDEX on Arbitrum, discussing about the ecosystem and the prospect of Perp DEX

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5

Vaultka Grant Bi-Weekly Update

Date: February 7, 2024

I. Executive Summary:

a) Roadmap Progress:

  • As of February 6, a total of $18.0 million TVL has been created by GM Leverage and GM Leverage (Neutral) Vault.
  • The USDC Lending TVL is at $10.22 million, with a 95% utilization rate.
  • GLM - the GLP-like GM token is launched on February 6

b) Milestone/KPI Achievements (as of February 6, 2024):

  • Total TVL for GM Related Vaults: $17,992,700
  • TVL of GM Leverage (Neutral) Vault: $10,585,978
  • TVL of GM Leverage Vault: $7,406,722
  • Average Utilization Rate: 95%
  • Number of Unique Addresses: A cumulative total of 2534 users have used either GM Leverage or GM Leverage (Neutral) Vault.

c) Dune Dashboards:

Check out our Dune dashboards for more detailed information: Vaultka GMX Grant Dashboard

II. Current Progress:

  • The USDC Lending Pool TVL has grew by $3 million since the last bi-weekly update, supporting more leveraging activities in GM related strategic vaults
  • The lending capital were immediately utilized by leverage users, and reaches its cap of 95%, showing the demand of GM leverage vaults
  • The lending pool will persist in providing USDC reward sharing and esVKA emissions to further attract lending capital.
  • GM Leverage and GM Leverage (Neutral) Vault have maintained their attractiveness, experiencing a growth of over $5mil in two weeks.

III. Community Engagement:

IV. Partnerships and Collaborations:

Parnership with AARK
Vaultka will be partnering with AARK to launch the leverage AALP very soon!

6

Vaultka Grant Bi-Weekly Update

Date: February 20, 2024

I. Executive Summary:

a) Roadmap Progress:

  • As of February 20, a total of $12.9 million TVL has been created by GM Leverage and GM Leverage (Neutral) Vault.
  • The USDC Lending TVL is at $11.08 million, with a 50% utilization rate.
  • Launched KTX KLP Leverage Vault

b) Milestone/KPI Achievements (as of February 20, 2024):

  • Total TVL for GM Related Vaults: $12,871,935
  • TVL of GM Leverage (Neutral) Vault: $9,901,403
  • TVL of GM Leverage Vault: $2,970,532
  • Average Utilization Rate: 50%
  • Number of Unique Addresses: A cumulative total of 2621 users have used either GM Leverage or GM Leverage (Neutral) Vault.

c) Dune Dashboards:

Check out our Dune dashboards for more detailed information: Vaultka GMX Grant Dashboard

II. Current Progress:

  • The sudden drop of TVL is due to the close of positions from a whale (closing with a profit of over $500K) , thus leading to the drop in utilization rate and TVL for a few days.
  • We are confident that the utilization rate will swiftly go back up, with the huge demand on GM vaults.
  • The lending pool will persist in providing USDC reward sharing and esVKA emissions to further attract lending capital.

III. Community Engagement:

IV. Partnerships and Collaborations:

Parnership with KTX
Vaultka partners with KTX to launch Leverage KLP Vault!