Umami Community Newsletter, 08/12

Yet another week of #RealYield in the books for $UMAMI holders as well as USDC Vault depositors. This week the Umami team achieved a variety of milestones such as introducing algorithmic protection and hitting the $5,000,000 TVL checkpoint in our Flagship vault.

This algorithmic protection allows the user to protect themselves from glpUSDC decreasing under a value of 0.95 USDC per 1 glpUSDC. Coupling this with our rigorously audited code and seamless withdrawal system Umami’s Vault products are intended to be a comfy experience for its users.

See all updates below:

Check it out here: https://twitter.com/flywheelpod/status/1557773963744268293?s=20&t=92yNSlSZmYhqC7jLWx-5xA

mUMAMI Deposited = 541,000 (Up 2.66% WoW)

cmUMAMI Deposited = 236,200 (down 10.22% WoW)

Rewards pushed to stakers this week = 14.04 ETH

Total rewards pushed to stakers = 191.99 ETH

(Supply and ETH numbers quoted at time of writing on 08/12)

This was an impressive week for the Umami Team. We are thankful we were able to go public with the vault even sooner than expected. This accelerates the timeline for Umami marinators who have been faithfully waiting to finally experience the feel of earning real product fees being paid out in ETH almost daily. Next week get ready for more alpha, updates, and most importantly get your USDC ready for more TVL cap raises!

Happy Marinating Folks!

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