Umami Community Newsletter, 06/04

Umami
2 min readJun 4, 2023

--

The first week of June has been electrifying for Umami DAO and its community with the increased TVL testing of our Deconstructed GLP Vaults beginning! We have already scaled up to $500,000+ in TVL and intend to allocate the rest of the approved Treasury funds swiftly. Initial results have exceeded expectations with favorable Trader PnL impact and a current cost to hedge that is 40x cheaper than the base delta minimized GLP strategy. Umami’s dev team whipped up an analytical front end so that everyone can follow along with and visualize the testing in real time (Link below). We also held an AMA in our discord (more info below) and completed the monthly unlock for mUMAMI.

News:

  • Began the increased TVL testing of our upcoming Deconstructed GLP Vaults with phenomenal initial results.
    Tweet: https://twitter.com/UmamiDao/status/1663183432275378178?s=20
  • Shipped an analytical front end for the community to watch our progress in real time as we scale and test the Vaults.
    Analytics Link: https://umami.finance/vault-scaling
  • Monthly mUMAMI unlock completed for the month of June.
  • Hosted an AMA to highlight initial results of the Vaults and answered questions from the community (AMA info below).

AMA:
This week Contributors of Umami DAO, specifically our dev team held an AMA to dive into the data and answer questions from the community.

Topics Discussed:
Deconstructed GLP Vault Testing insights
Cost Efficiency
The discrepancy between the sum of assets in GLP and the hedges
Balance of the Vaults vs Composition of GLP
Funding Fees and Strategy
Audit and Scaling
Launch and Deposit Limits
Interest from Other DAOs

In depth explanation in the description of the recording below for those who want a quasi transcript of the AMA.

AMA Recording: https://www.youtube.com/watch?v=vh0M0uHCxn0

mUMAMI Deposited = 355,500 (Down 15.95% WoW)

cmUMAMI Deposited = 180,500 (Down 15.69% WoW)

Rewards pushed to stakers this week = 2.54 ETH

Total rewards pushed to stakers = 427.20 ETH

(Supply and ETH numbers quoted at time of writing on 06/04)

Happy Marinating Folks! 🍔

--

--