Umami Finance Partners with Jones DAO & Dopex To Deploy gOHM on Arbitrum
The partnership will allocate 10 gOHM (~$200,000) from Umami’s wholly-owned treasury to the two projects’ options strategies. The capital deployments support a compelling new use-case for OlympusDAO’s governance token, gOHM, on Arbitrum and reduce the Umami treasury’s exposure to market-risk.
They are also the first deployments of Umami’s gOHM since it announced its formal partnership with OlympusDAO to scale gOHM liquidity on Arbitrum earlier this week.
Umami has deposited 3 gOHM (~$60,000) with Jones DAO, an active manager of options strategies on Arbitrum founded by members of the Dopex community. Jones DAO’s one-click vaults will give users access to the best-available yields from the most cutting-edge options strategies without requiring them to have any options know-how themselves.
Jones DAO will allocate Umami’s gOHM to a variety of options vaults on Arbitrum with the goal of conserving Umami’s capital and maximizing its accumulation of gOHM.
Umami is also preparing to place 7 gOHM (~$140,000) directly into Dopex’s gOHM vault, which provides liquidity for gOHM call options. Dopex is an Arbitrum-native options exchange providing a wide array of options strategies across numerous assets.
Going forward, Dopex and Umami will work closely together to support options trading on Arbitrum. In fact, Umami will be launching DPX bonds very soon!
The Umami team is working quickly to allocate its ~$8 million in treasury assets, and has also placed around $2.7 million in MIM into Curve Finance’s MIM-2CRV pool on Arbitrum. The pool’s ~20% APR will bring more than $500,000 per year to Umami’s treasury.
Onward Into 2022
Umami’s recent treasury asset deployments are the first of many more to come. Stay tuned for more big news from Umami in the coming week!
With ~$8 million in wholly-owned treasury assets, partnerships with top bridging protocols, and an array of new bonds to be launched soon, Umami is uniquely positioned to expand Arbitrum’s DeFi ecosystem. It will also generate market-leading returns for HODLers in the process.