Umami Community Update 07/01

Our Lead Mod’s weekly update for the Umami community.

Another busy week for the Umami team means another fun-filled, inspiring community newsletter! This week we made massive strides towards launching our highly anticipated USDC vault and increasing overall awareness around it.

As promised, Umami holders will be given first dibs on depositing into the USDC vault during the community whitelist period in July. We ask our community to help us provide the best-possible whitelisting experience by filling out this Snapshot survey below.

https://snapshot.org/#/arbis.eth/proposal/0x7e22685d2ba51c496b4a7e0d9bad8407a3ca8b7eeadb79b8ebe9401c31f4ee88

With that, let’s get into this weeks major updates!

  • Lined up an additional $10m-$15m in insurance underwriting coverage for our upcoming USDC vault.
  • Shared plans for a tiered whitelist process for our upcoming USDC vault with Umami holders and initiated a snapshot to better define tier ranges.
  • Began an extensive BizDev roadshow in preparation for our upcoming USDC vault as well as to assist with scaling TracerDAO platform liquidity.
  • Started a monthly routine of aggregating our AMA’s and communities $UMAMI threads into master threads.
  • Hosted a joint AMA with GMX to discuss our future partnership plans and to further publicize our vaults.
  • Monthly mUMAMI unlock

The Week In Numbers

The market may be down, but the ETH has kept flowing to Marinators!

mUMAMI Deposited = 511,400 (Up 0.79% WoW)

cmUMAMI Deposited = 273,200 (Up 3.72% WoW)

Rewards pushed to stakers this week = 8.00 ETH

Total rewards pushed to stakers = 135.62 ETH

(Supply and ETH numbers quoted at time of writing on 07/01)

As you can see it was a busy week. With the USDC vault quickly approaching, there will be further metrics added to this newsletter such as weekly protocol revenue and more.

We will continue to strive for ever greater transparency and ease-of-access to information and we will work vigorously to bring a new standard of protocol integrity to DeFi… Happy Marinating and see you all next week!

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