Umami DAO has completed its second full week of increased TVL testing for our upcoming Deconstructed GLP Vaults with continued better than expected results! We have concluded scaling the Vaults and will remain at $500k TVL for the remainder of testing while we await Zokyo’s final response on the Audit. This week we also published the Treasury Report for the month of May detailing metrics such as yield and Opex, as well as sharing some insights on the Vault’s performance. Finally we introduced and passed a new DAO Proposal titled “Umami DAO Proposal #5: Partial Transfer of esGMX + MPs from DAO Treasury to Deconstructed GLP Vaults”, with the goal of providing a boost in yield for early depositors.
News:
- Continued testing Deconstructed GLP Vaults with consistent phenomenal results.
Watch live here: https://umami.finance/vault-scaling - Published Treasury Report for the month of May.
Link: https://umamifinance.medium.com/umami-dao-treasury-update-may-2023-8a30de0f36f2 - Introduced and Passed “Umami DAO Proposal #5: Partial Transfer of esGMX + MPs from DAO Treasury to Deconstructed GLP Vaults”.
Snapshot: https://snapshot.org/#/umamidao.eth/proposal/0x2f3e1a4b246ffa6b6015374b9f41b196d7030975926d356889ee0045b9b79cc5
AMA:
Umami held an AMA last week to discuss Vault performance and answer questions from the community.
Recording + Description: https://www.youtube.com/watch?v=vh0M0uHCxn0
Next AMA TBD, likely to discuss launch.
mUMAMI Deposited = 377,300 (Up 6.13% WoW)
cmUMAMI Deposited = 190,200 (Up 5.37% WoW)
Rewards pushed to stakers this week = 1.83 ETH
Total rewards pushed to stakers = 426.68 ETH
(Supply and ETH numbers quoted at time of writing on 06/11)
Happy Marinating Folks! 🍔
