Gamma STIP Program Updates

[Gamma] Bi-Weekly Update


Original Proposal and Snapshot

Recap of the Previous Two Weeks

Gamma has spent the past two weeks fine-tuning pool allocation and selection in preparation for the STIP. We evaluated every active concentrated liquidity pool we could support on Arbitrum. Gamma used established methodology and some of our latest techniques to evaluate pools for need and potential. This included historical volatility, pair correlation, fee production, volume, subjective project characteristics, and more. We spoke directly with our partner AMMs about their liquidity needs and preferences, contacted new projects, and carefully noted other STIP awardees and where they were incentivizing.

After we cleared the KYC process, we went into go mode, deploying new vaults and setting up the rewarder infrastructure needed to distribute incentives. Gamma settled on a mix of in-house rewarders (GammaChef), AMM-built reward systems, and Angle Merkl for distributing our rewards. Each vault and incentive contract deployment involved several rounds of testing, safety checks, and approvals.

We also built a STIP Dashboard so the public can quickly get information about contracts, incentive allocations, and access direct links to our web application.

We deployed our incentive program in two stages. Camelot opened on November 14, 2023, followed by Ramses, Uniswap, and SushiSwap on November 15, 2023. PancakeSwap incentives will be starting shortly.

User response to the STIP has been tremendous! Gamma’s Arbitrum TVL has exploded to over $35.8 million, running away with the lead as Gamma’s number-one supported chain. We’ve seen a surge of activity on our partner AMMs.

We’re happy to report that everything is running smoothly on our end, and we look forward to evaluating the early results of the STIP program in this report.

ARB Received Last Disbursement:


ARB Utilized as Incentives in the Last Two Weeks:

AMM ARB Rate Days Elapsed ARB Dispersed
Camelot 3061 2.523877315 7,726.16
Ramses 1276 1.523877315 1,943.72
Uniswap 2551 1.523877315 3,887.44
PancakeSwap 306 0 0.00
SushiSwap 459 1.523877315 699.74
Total 14,257.06
Remaining 92,885.94

Gamma STIP Dashboard

Contracts incentivized over the last 2 weeks:

AMM Gamma Vault Vault Address ARB Distributed
camelot WETH-USDC (narrow) 0xd7Ef5Ac7fd4AAA7994F3bc1D273eAb1d1013530E 1287.692508
camelot ARB-USDC (narrow) 0x29237292F15BC3615BFCc0D958C265Aa64527FB2 1802.769511
camelot WETH-USDT (narrow) 0x9330e26b5Fc0b7c417C6bD901528d5c65BE5cdf2 1158.923257
camelot WETH-ARB (narrow) 0x863cb3E55526Fa2F7e6b04ecf21Ea39143AC8056 1674.00026
camelot WETH-LINK (narrow) 0xF3557102C0cCBE07EE237B6eE70984f313886432 515.0770031
camelot DPX-WETH (narrow) 0x610C18bA42FBCE096CD9A894a1025EA0B69B581a 128.7692508
camelot MAGIC-WETH (narrow) 0x6F8401bd348B3f8cDabc8C81dbD0Ac255abCB4e5 257.5385015
camelot GRAIL-WETH (narrow) 0x97D81162B96D57476CcF170595a39c1DC76676c9 386.3077523
camelot USDC-GMX (narrow) 0x9bdb8335619bA4E20Bea1321f8E32f45fD6e6e22 386.3077523
camelot plsARB-ARB (stable) 0x4D519650E86bc7fCab036314a160653FBcfE05C4 128.7692508
ramses ARB-USDC (narrow) 0x524D49847E644eD908d65396166EaCeF5C2D2a41 777.4884259
ramses WETH-ARB (narrow) 0x8909ae223c31F35763c60f06B358F7963687f3eB 621.9907407
ramses WETH-USDC (narrow) 0x81639d88451c96b8eff9fa5206Da2F1147Bc3067 466.4930556
ramses WETH-LQTY (narrow) 0x3d66F6FfF1F0FcD6dCD6F58398005Dc8c6a55C14 77.74884259
uniswap ARB-USDC.e (narrow) 0x5F4cED6237BBB278b693a2b46d3ef1f45ba27ea9 1127.358218
uniswap ARB-USDT (narrow) 0x95375694685E39997828Ed5B17f30f0A3eD90537 932.9861111
uniswap MAGIC-WETH (narrow) 0x9F0166a37A511d2D6647864Dd0abDc1Ef6699a0C 583.1163194
uniswap RDNT-WETH (narrow) 0x1f70F9c577bB91f1445C7144Fe66D15F7041fd10 155.4976852
uniswap USDC-LINK (narrow) 0xf8b645c32F660f5c997ED250f264cA4a0E7A5967 388.744213
uniswap WETH-LINK (narrow) 0xfA392dbefd2d5ec891eF5aEB87397A89843a8260 466.4930556
uniswap GNS-WETH (narrow) 0xF66DA0f517c6f5431c77f4d0525EbC4b3bb40578 116.6232639
uniswap WETH-LODE (narrow) 0x08A61A58ab10db054fBbE57996e89A69DdEba2F3 116.6232639
pancakeswap WETH-ARB (narrow) 0xdaB1dA56965B1aaaBE38774E8B74C3Ade8fc439E 0
sushiswap WETH-ARB (narrow) 0x2FD6FD1E3f1fE24cC1422D22e62884A4528d1A24 699.7395833

Gamma STIP Dashboard

Contract address label Form completed for all addresses:


ARB left over:


Plan for leftover ARB:

Continue to distribute ARB as incentives. Adjust rates if needed to compensate for the deployment of special pools or unforeseen consequences.

Summary of incentives:

Camelot’s pools received approximately 41% of our incentives. Uniswap received about 35% of the available incentives, Ramses 17%, and SushiSwap 7%. PancakeSwap was not incentivized in this period.

The incentives were spread over various pools, including blue chip pairs, Arbitrum-native projects, critical multichain infrastructure, several stablecoins, and several severely undercapitalized pools.

Incentives were distributed using Camelot Nitro, GammaChef, Angle Merkl, and Ramses’s MFD.

Additional Info / Disclosures to Multisig:

Minor delay on PancakeSwap deployment. We are waiting on PancakeSwap to prepare the pool for incentives. Should be deployed shortly after this update.


Average daily TVL:

$5,474,300 / day on incentivized vaults

Average daily transactions:

1800 / day on incentivized vaults

Average daily volumes:

$23,739,754 / day on incentivized vaults

Number of unique user addresses:

Omitted as calculations are not reliable. Refactoring for the next update.

Transaction fees:

$25,222 / day on incentivized vaults

Link to Dashboard showing metrics:

Gamma STIP Dashboard

Metrics Tab

Next Period

Amount of ARB to be distributed: [Insert amount of ARB]


Contracts that will be incentivized:

AMM Gamma Vault Vault Address ARB / Day
camelot WETH-USDC (narrow) 0xd7Ef5Ac7fd4AAA7994F3bc1D273eAb1d1013530E 7,142.86
camelot ARB-USDC (narrow) 0x29237292F15BC3615BFCc0D958C265Aa64527FB2 10,000.00
camelot WETH-USDT (narrow) 0x9330e26b5Fc0b7c417C6bD901528d5c65BE5cdf2 6,428.57
camelot WETH-ARB (narrow) 0x863cb3E55526Fa2F7e6b04ecf21Ea39143AC8056 9,285.71
camelot WETH-LINK (narrow) 0xF3557102C0cCBE07EE237B6eE70984f313886432 2,857.14
camelot DPX-WETH (narrow) 0x610C18bA42FBCE096CD9A894a1025EA0B69B581a 714.29
camelot MAGIC-WETH (narrow) 0x6F8401bd348B3f8cDabc8C81dbD0Ac255abCB4e5 1,428.57
camelot GRAIL-WETH (narrow) 0x97D81162B96D57476CcF170595a39c1DC76676c9 2,142.86
camelot USDC-GMX (narrow) 0x9bdb8335619bA4E20Bea1321f8E32f45fD6e6e22 2,142.86
camelot plsARB-ARB (stable) 0x4D519650E86bc7fCab036314a160653FBcfE05C4 714.29
ramses ARB-USDC (narrow) 0x524D49847E644eD908d65396166EaCeF5C2D2a41 7,142.86
ramses WETH-ARB (narrow) 0x8909ae223c31F35763c60f06B358F7963687f3eB 5,714.29
ramses WETH-USDC (narrow) 0x81639d88451c96b8eff9fa5206Da2F1147Bc3067 4,285.71
ramses WETH-LQTY (narrow) 0x3d66F6FfF1F0FcD6dCD6F58398005Dc8c6a55C14 714.29
uniswap ARB-USDC.e (narrow) 0x5F4cED6237BBB278b693a2b46d3ef1f45ba27ea9 10,357.14
uniswap ARB-USDT (narrow) 0x95375694685E39997828Ed5B17f30f0A3eD90537 8,571.43
uniswap MAGIC-WETH (narrow) 0x9F0166a37A511d2D6647864Dd0abDc1Ef6699a0C 5,357.14
uniswap RDNT-WETH (narrow) 0x1f70F9c577bB91f1445C7144Fe66D15F7041fd10 1,428.57
uniswap USDC-LINK (narrow) 0xf8b645c32F660f5c997ED250f264cA4a0E7A5967 3,571.43
uniswap WETH-LINK (narrow) 0xfA392dbefd2d5ec891eF5aEB87397A89843a8260 4,285.71
uniswap GNS-WETH (narrow) 0xF66DA0f517c6f5431c77f4d0525EbC4b3bb40578 1,071.43
uniswap WETH-LODE (narrow) 0x08A61A58ab10db054fBbE57996e89A69DdEba2F3 1,071.43
pancakeswap WETH-ARB (narrow) 0xdaB1dA56965B1aaaBE38774E8B74C3Ade8fc439E 4,285.71
sushiswap WETH-ARB (narrow) 0x2FD6FD1E3f1fE24cC1422D22e62884A4528d1A24 6,428.57

Contract address label Form completed for all addresses:


Mechanism for distribution incentives:

Incentives will be distributed using Camelot Nitro, GammaChef, Angle Merkl, and MFD.

Summary of incentives plan:

Camelot’s pools received approximately 40% of our incentives. Uniswap received about 33.33% of the available incentives, Ramses 16.67%, SushiSwap 6%, and PancakeSwap 4%.

The incentives will be spread over various pools, including blue chip pairs, Arbitrum-native projects, critical multichain infrastructure, several stablecoins, and several severely undercapitalized pools.

Summary of changes to the original plan:

No changes to the original plan, save for activation of PancakeSwap’s rewards. Fix the issue with querying Unique User Addresses.