Thetanuts Finance Bi-Weekly Update (29 July 2024)

Recap of the Previous Two Weeks

TVL

Thetanuts Finance is now in its fifth week of distributing $ARB rewards as part of the Arbitrum STIP Bridge programme. Thetanuts Finance’s TVL on Arbitrum currently sits at ~$10.1mm, down approximately ~11% from the previous two weeks.

Our Dune query for our metrics on Arbitrum can be found here.

Launch of new Pendle PT Strategy Vault for Bedrock ETH

We have launched a new vault for $PT-uniETH in collaboration with Bedrock on July 26. The $PT-uniETH vault will now receive $ARB incentives on a TVL weighted basis, in accordance with our other Pendle PT Strategy Vaults.

Thetanuts Finance x Pendle for Arbitrum STIP Bridge

Under Pendle’s Phase II of the Arbitrum STIP, Thetanuts Finance will receive an allocation of 9,000 $ARB - to be distributed between our Pendle PT Strategy Vaults over three weeks from July 11 to Aug 1. Users are expected to be able to claim their rewards next week for Pendle Phase II.

Details for Phase III are expected to be disclosed next week.

Plan For the Next Two Weeks

ARB Received Last Disbursement: 33,333.33 $ARB

ARB Utilized as Incentives in the Last Two Weeks: 33,333.33 $ARB

Contracts incentivized over the last 2 weeks:

  1. $ARB Call - Bi-weekly: 0x0833EC3262Dcc417D88f85Ed5E1EBAf768080f41
  2. $ARB Put - Bi-weekly: 0xf94ea5B18401821BE07FBfF535B8211B061A7F70
  3. $ETH Call - Weekly: 0x1D1CD4abe0F2AF9d79b5e3149BF4A503f97C1EAd
  4. $ETH Put - Weekly: 0x633A789BeD82215b1cEE45C32aCD0D6Ca8b9Bfbf
  5. ARB-C Lending Market: 0xB1D961701be27d26A2E4FA13cb0c4FA7C47DD615
  6. ETH-C Lending Market: 0xF9a82c9Dd095076FCdc7507D6cf920EEfFa93BA2
  7. USDC Lending Market: 0xeb9a387494922d5Ec20631c19D51c39C45AC8643
  8. ARB-C Add Liquidity Module: 0x721Bba1556649e9c70E2dF1EAFC04270376025f7
  9. ARB-P Add Liquidity Module: 0x85ceD6055f0eC21dE0e4216177115cbc6a930ACa
  10. ETH-C Add Liquidity Module: 0x078F98Be8A1bb1bD64799B8F05Aca08f5850A69D
  11. ETH-P Add Liquidity Module: 0xE84CB9daF67644734051c7f6e978968f04F6751e
  12. PT Ethena USDe 29AUG2024 0x0a063C9fDe249C3036415919194194961951Db38
  13. PT rsETH 26SEP2024 0x0b6ef11254edcab4b164daa7e626dc0d0c2ad51f
  14. PT Renzo ezETH 26SEP2024 0x3f9ca12e7d4867e45b289484a3f33bba2a1b8723
  15. PT weETH 26SEP2024 0xf5d0866646df182fb9bc7fb27b26b84f96b2239d
  16. PT Bedrock uniETH 26DEC2024 0x3D3a1CAA95D427b9fF63b93cB90e1a470eeBA5D7

Contract address label [Form 18] (ARB STIP Transparency) completed for all addresses: Yes

ARB claimed: 99,999.99 $ARB claimed

ARB left over: 100,000.01$ARB to claim

Plan for leftover ARB:

We began our STIP Bridge Program on 20th June 2024 and will be distributing our rewards on a bi-weekly basis over 12 weeks. We expect to end on 12 September 2024 – in line with Arbitrum Foundation’s guidance on when the $ARB incentives should be distributed by.

Summary of incentives:

We intend to distribute Arbitrum STIP Bridge over a 12-week period.

In order to create sticky liquidity between Arbitrum STIP and Arbitrum STIP Bridge, Thetanuts Finance also promised that 25% of $ARB rewards from Arbitrum STIP Bridge would go to users who retained their liquidity in Thetanuts Finance during the interim period. This 50,000 $ARB will be distributed over the 12-week period to eligible users.

The remaining 150,000 $ARB will be distributed to liquidity providers on Thetanuts Finance over a 12-week period, according to the below breakdown. Note that these weights are subject to change by the Thetanuts Finance team depending on market conditions.

  • Users using Pendle PT Strategy Vaults: 65%
  • Users on Add Liquidity Module: 20%
  • Users with Long Positions: 5%
  • Users with Boosted Short Positions: 10%

$ARB rewards will be available for claim on a bi-weekly basis on Mondays, on our Incentives page.

Weights are subject to change at the discretion of Thetanuts Finance.

Additional Info / Disclosures to Multisig: n.a.

Stats

7D Average daily TVL: ~$11.4mm

7D Average daily transactions: 40

7D Average daily trading volume: $437

Number of unique user addresses (Since Inception): 283,578

7D Avg Transaction fees: $0

Link to Dashboard showing metrics: https://dune.com/thetanutsfinance/thetanuts-finance-v3
https://dune.com/thetanutsfinance/thetanuts-finance-arbitrum-stip-reporting