We are thrilled to announce the deployment of our GM ETH and USDC Vaults on the Avalanche network!
As pioneers in the DeFi space, we continuously seek to expand our offerings and provide our users with innovative solutions. This launch is a significant milestone, marking our first deployment on a different chain than Arbitrum and integrating Umami Finance’s yield strategies with the robust infrastructure of Avalanche.
Chainlink Data Streams Enhance Security on Avalanche
Our GM Vaults are among the first DeFi products secured by Chainlink Data Streams on the Avalanche network. This integration ensures the highest levels of security and accuracy in price data, enhancing the reliability of our vaults. Chainlink’s low-latency oracle solution will enable our vaults to maintain the stability and performance our users expect.
Additional AVAX Incentives
The launch of our GM Vaults on Avalanche coincides with the GMX Summer Boost program, an initiative by GMX and the Avalanche Foundation to incentivize liquidity providers on the GMX platform.
Starting from July 3rd, GMX liquidity providers, and consequently our Vault depositors, will benefit from additional AVAX incentives.
All Boost incentives from the Avalanche campaign will be paid out as gmAVAX+ tokens. These gmAVAX+ tokens are regular AVAX tokens actively providing liquidity to the single-asset AVAX/USD [WAVAX] pool on GMX.
We will collect these, convert them to regular AVAX, and distribute them as direct incentives to our GM Vault depositors.
Please note that the AVAX incentives will start after the first epoch, so the first epoch our Vaults won’t be additionally incentivized.
Why Use GM Vaults on Avalanche?
Our integration with the Avalanche network and participation in the GMX Summer Boost program underscores our commitment to providing the best possible yield opportunities for DeFi users on the Avalanche network.
By combining our robust GM Vaults with Avalanche’s high-performance blockchain and Chainlink’s secure data streams, we offer a unique and compelling product for DeFi users on Avalanche network.
The APRs on the GMX platform in the past few weeks have been similar to those on Arbitrum. This means that, in the long term, GM Vaults on the Avalanche network are projected to offer similar performance numbers for ETH and USDC as they do on Arbitrum — double-digit yields.
This makes them one of the best single-sided products for USDC and ETH on the Avalanche network.
