Umami’s USDC Vault is Now Live!

Risk-hedged #RealYield in $USDC.
  1. Head over to the umami.finance app and click on the “Vaults” tab. Click “View Vault” in the GLP/TCR USDC Pool box. You MUST scroll to the bottom of the Disclaimer and click on the checkbox to access the Vault UI.
  2. You’ll see deposit and withdrawal buttons. You’ll also notice a TVL bar that shows how much room is left in the vault before its TVL cap is hit. The starting TVL cap for the first week will be $1,000,000.
  3. Once you have deposited (don’t forget to “Approve” first), you’ll receive the Vault’s receipt token, an erc-4626 called “glpUSDC.” glpUSDC will increase in value as the vault accrues yield. You can realize your gains at any time by exchanging your glpUSDC for USDC (deposited + yield).
  4. Tee up a withdrawal anytime using the “Withdraw” tab. Please note that withdrawals can take up to 20 hours to accommodate the vault’s rebalancing mechanism. glpUSDC is a fully fungible, tradable ERC-4626 token. It will eventually have trading liquidity either on Uni v3 or elsewhere.

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