Mr. Grumpy’s Umami Newsletter #1

The first of many community updates to come from Umami’s Lead Mod, Mr. Grumpypants!

Starting today, the Umami team will begin posting a weekly newsletter each Friday to review all of Umami’s accomplishments over the course of that week.

Umami has assembled a highly efficient, fast-shipping team, and we feel that weekly, rather than monthly, updates are the best approach to keeping our community up-to-date.

We hope everyone enjoys this extra step of transparency and communication. We’ve got some major updates below!

This week we achieved:

  • Finalized internal testing for Delta Neutral Vault; expecting completion of Zokyo audit by the end of next week & USDC Vault launch by the end of June!
  • Agreement with InsurAce to provide smart contract insurance for Umami’s upcoming Delta Neutral USDC Vault.Details coming soon.
  • Initiated development for Umami’s next four DeFi products, including its upcoming BTC Maxi & ETH Maxi Vaults & two exciting new products that will significantly enhance the Arbitrum DeFi ecosystem (more details on this final product will be announced soon!)
  • Onboarded second FT Solidity Dev, 0xDapper, and second Front End React Dev, sfj, who will be working under CTO 0xPrePop.
  • Completion and resounding success of Umami’s first community incentivized event, the Umami Meme Competition.
  • Podcast with @Kngmkrpod explaining the $UMAMI value prop, USDC vault, as well as our future plans.
    Link: https://t.co/UB3CNoREHs

mUMAMI Deposited = 481,900

cmUMAMI Deposited = 251,500

ETH pushed to stakers this week = 8.36 ETH
Total ETH pushed to stakers = 111.70 ETH

(Supply and ETH numbers quoted at time of writing on 06/17)

As you guys can see, it’s been a big week. We are gearing up for our USDC Vault Launch in less than 2 weeks, and getting ready to complete our audit with Zokyo & underwrite our vault with InsurAce.

We plan to continue shipping updates next and will keep on bringing juicy yields to the Arbitrum network. See you all next week!

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