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:
- Published a detailed update breaking down the early performance of the USDC Vault
Read it here: https://umamifinance.medium.com/usdc-vault-performance-update-8-8-1403d1a4339a
- Successfully had our first public week of the vault raising the TVL cap 3 times for an increase of $1,500,000 to a now total $5,500,000
- Further optimized the UMAMI/ETH Liquidity pool, increasing capital efficiency of treasury assets
- Partnered with Risk Harbor to introduce the option of algorithmic protection to vault depositors
Learn more here: https://twitter.com/riskharbor/status/1557849415280238592?s=20&t=BR8wW0dPINgHnH9UnJ7QIQ
- Guest starred on the FlyWheel Podcast giving our thoughts on the #RealYield trend and dropping some major Umami alpha.
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!