Umami Community Newsletter, 11/25

This week at Umami, our team continued making progress on the v2 vault contracts. The Tech team is finalizing the backtesting data, and we are hoping to release that information soon through our whitepaper. The BizDev team is working on securing robust smart contract insurance with extensive underwriting capacity for Umami’s upcoming vaults.

Also, Umami is excited to announce we have executed our partnership with Camelot Dex and have migrated cmUMAMI/UMAMI liquidity to Camelot. In return, Camelot has provided Umami’s treasury with vested xGRAIL tokens, which will also serve as an incentivized UMAMI/ETH pool. Please keep in mind our primary LP UMAMI/ETH supplied by Umami’s treasury will remain unchanged on Uniswap and continue utilizing its v3 functionality.

See all of our updates below:

mUMAMI Deposited = 554,900 (up 5.19% WoW)

cmUMAMI Deposited = 313,100 (up 7.45% WoW)

Rewards pushed to stakers this week = 6.00 ETH

Total rewards pushed to stakers = 300.00 ETH

(Supply and ETH numbers quoted at time of writing on 11/25)

Many of us celebrated Thanksgiving this week in the U.S! We want to take this time to express our gratitude for Umami’s robust and diverse community. We are especially grateful for the continued support you have all shown us since we embarked on this journey. When looking at where we were 1 year ago, we have seen a dramatic shift in protocol mechanics, tokenomics, and leadership. Since then, we have built a world-class team and formed an incredible community.

Thank you and happy Marinating! 🍔

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