Date: Dec-13 2023
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.
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
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.
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:
Announcement of Grant Receival from GMX
Announcement for Extra Rewards on USDC Lending
- 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.
- 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.
- 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.