Umami Community Newsletter, 08/05

Last week we launched our highly anticipated $USDC Vault. The launch was initiated on a Whitelisted basis, giving our long-term UMAMI holders a much-deserved chance to be first into the Vault.

The Vault encountered a minor snag on day 1 (which has since been corrected) but has been recovering nicely, with the price of $glpUSDC exceeding 1 $USDC on Friday. Performance has benefited from higher-than-anticipated APR on Tracer’s Pool tokens and GMX’s $GLP.

Meanwhile, we are pleased to say that TVL on Tracer’s Perpetual Pool platform has been scaling faster than expected. As a result, Umami has decided to open its vault deposits to the general public.

Starting Friday, non-whitelisted retail and institutional users are invited to deposit into Umami’s USDC Vault!

On an equally exciting note, Umami is delighted to share that it is now partaking in several potentially game-changing partnership discussions with on-chain and off-chain entities.

These partnerships have enormous potential to accelerate our TVL growth and enrich the Arbitrum ecosystem. We’ll share more details as soon as possible.

All updates below:

mUMAMI Deposited = 527,000 (Up 0.42% WoW)

cmUMAMI Deposited = 263,100 (down 7.13% WoW)

Rewards pushed to stakers this week = 10.10 ETH

Total rewards pushed to stakers = 177.95 ETH

(Supply and ETH numbers quoted at time of writing on 08/05)

The Umami Team remains hard at work bringing ever increasing protocol revenue back to our marinators. The scalability of Tracer, GLP APR, and subsequent public launch will allow us to scale even quicker than we expected, making room for millions more in TVL.

For those who missed the whitelist snapshot and have been waiting this past week now is your time!
Deposit here: https://umami.finance/app/vaults/glp-tcr-usdc-pool

Happy Marinating Folks!

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