Umami Finance STIP.B Bi-Weekly Update 7/1/24

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 62,500

ARB Utilized as Incentives in the Last Two Weeks: 62,500

Contracts incentivized over the last 2 weeks:

$gmUSDC (WETH) Vault Token - 0x959f3807f0Aa7921E18c78B00B2819ba91E52FeF

$gmUSDC (WBTC) Vault Token - 0x5f851F67D24419982EcD7b7765deFD64fBb50a97

$gmWETH Vault Token - 0x4bCA8D73561aaEee2D3a584b9F4665310de1dD69

$gmWBTC Vault Token - 0xcd8011AaB161A75058eAb24e0965BAb0b918aF29

Contract address label Form 47 completed for all addresses: [Insert Yes once Completed]

ARB left over: 0

Plan for leftover ARB: N/A

Summary of incentives: To launch a new round of incentives for Umami’s GM vaults, we are distributing direct ARB emissions using a simple masterchef contract. Our aim is to allocate more ARB emissions to the GMUSDC vaults to encourage an optimal TVL balance for internal netting. This plan has been successful, as we have grown our total TVL from $10 million to over $13 million during the first 2 weeks and our USDC vaults are scaling nicely.

Additional Info / Disclosures to Multisig: N/A

STATS (6/18 - 6/30)

Average daily TVL: $12,397,164

Average daily transactions: 72

Average daily volumes: $363,376

Number of unique user addresses: 299

Transaction fees: $10,930.77

Link to Dashboard showing metrics: https://dune.com/umamidao/stip-bridge

Plan For the Next Two Weeks

Amount of ARB to be distributed: 62,500

Contracts that will be incentivized:

$gmUSDC (WETH) Vault Token - 0x959f3807f0Aa7921E18c78B00B2819ba91E52FeF

$gmUSDC (WBTC) Vault Token - 0x5f851F67D24419982EcD7b7765deFD64fBb50a97

$gmWETH Vault Token - 0x4bCA8D73561aaEee2D3a584b9F4665310de1dD69

$gmWBTC Vault Token - 0xcd8011AaB161A75058eAb24e0965BAb0b918aF29

Contract address label Form 47 completed for all addresses: Yes

Mechanism for distribution incentives: MasterChef Contract: 0x52F6159dCAE4CE617A3d50aEb7fAB617526d9D8F

Summary of incentives plan: Emission rates will stay the same. Rates can be adjusted if there is room for optimization. We are preparing for the launch of our ARB vault so emission rates can be changed to accommodate the new vault.

Summary of changes to the original plan: N/A

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Recap of the Previous Two Weeks

ARB Received Last Disbursement: 62,500

ARB Utilized as Incentives in the Last Two Weeks: 62,500

Contracts incentivized over the last 2 weeks:

$gmUSDC (WETH) Vault Token - 0x959f3807f0Aa7921E18c78B00B2819ba91E52FeF

$gmUSDC (WBTC) Vault Token - 0x5f851F67D24419982EcD7b7765deFD64fBb50a97

$gmWETH Vault Token - 0x4bCA8D73561aaEee2D3a584b9F4665310de1dD69

$gmWBTC Vault Token - 0xcd8011AaB161A75058eAb24e0965BAb0b918aF29

Contract address label Form 47 1 completed for all addresses:Yes

ARB left over: 0

Plan for leftover ARB: N/A

Summary of incentives: Umami TVL is on a roll! Momentum is strong, reaching the $18 million TVL milestone. ARB incentives targeted at USDC deposits have created capital efficiency within the vaults. This, in turn, has allowed the capacity for the BTC and ETH vaults to be increased. While trader profit and loss slightly affect vault performance, adaptive funding rates in GMX V2 minimize trader skew, still providing our vaults with top-tier yield performance.

Additional Info / Disclosures to Multisig: N/A

STATS (7/1 - 7/14)

Average daily TVL: $15,782,909

Average daily transactions: 110

Average daily volumes: $665,691

Number of unique user addresses: 699

Transaction fees: $23,093

Link to Dashboard showing metrics: https://dune.com/umamidao/stip-bridge

Plan For the Next Two Weeks

Amount of ARB to be distributed: 62,500

Contracts that will be incentivized:

$gmUSDC (WETH) Vault Token - 0x959f3807f0Aa7921E18c78B00B2819ba91E52FeF

$gmUSDC (WBTC) Vault Token - 0x5f851F67D24419982EcD7b7765deFD64fBb50a97
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$gmWETH Vault Token - 0x4bCA8D73561aaEee2D3a584b9F4665310de1dD69

$gmWBTC Vault Token - 0xcd8011AaB161A75058eAb24e0965BAb0b918aF29

Contract address label Form 47 1 completed for all addresses: Yes

Mechanism for distribution incentives: MasterChef Contract: 0x52F6159dCAE4CE617A3d50aEb7fAB617526d9D8F

Summary of incentives plan: Emission rates will stay the same. Rates can be adjusted if there is room for optimization. We are preparing for the launch of our ARB vault so emission rates can be changed to accommodate the new vault.

Summary of changes to the original plan: N/A