Umami’s USDC Vault is Now Live!

2 min readJul 27, 2022


Risk-hedged #RealYield in $USDC.

The USDC Vault is officially LIVE!

Umami is excited to announce the early-access launch of its much-anticipated USDC Vault.

The USDC Vault generates #RealYield from GMX’s protocol revenue and hedges against market risk using Tracer’s Perpetual Pools.

(Get the full download on the USDC Vault strategy in Umami’s detailed Docs).

The USDC Vault, along with Umami’s upcoming ETH and BTC Vaults, is a crucial step towards Umami’s vision of playing a leading role in the institutional mass adoption of DeFi.

Umami’s USDC Vault has been audited by tier-1 auditor Zokyo and backtested by Balance. You can check out the Zokyo’s full audit report here. Balance’s complete backtesting dataset can be found in Umami’s Docs.

Optional smart contract insurance for the USDC Vault from Risk Harbor and InsurAce will be available soon after launch.

Umami has millions of dollars in institutional capital waiting to deposit into the USDC Vault. But we’ve reserved first dibs for you, our loyal holders.

Ready to deposit? Here’s a primer,

  1. Head over to the 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.

This is a big moment for the Umami team, its partners, and especially our community. The Umami team can’t thank you enough for your steadfast support as we worked to develop and launch this product.