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: Out of the 375,000 ARB allocated, 250,000 have now been distributed to the MasterChef contract for emissions. So far, 153,385 ARB have been claimed by staked GM Vault positions. Despite the recent market pullback and the associated drop in calculated value locked in our vaults, they continue to demonstrate resilience. By capitalizing on volatility, the price per share remains on an upward trajectory
This PPS chart highlights the effectiveness of our ARB incentives by comparing the performance of our USDC vault and BTC vault. Initially, the USDC vault PPS outperformed the BTC vault because all USDC depositors’ capital was fully allocated within the GM pools. In contrast, all BTC deposits could not be fully allocated into the GM pools until there was a matching amount of USDC deposited in our vaults. As we launch and scale these vaults, and as the USDC side approaches the necessary TVL, the BTC vault is now expected to perform more in line with GMX’s APR. This paves the way for our ultimate goal of increasing our BTC Vault caps as they are in high demand on Arbitrum.
Additional Info / Disclosures to Multisig: N/A
STATS (7/29 - 8/11)
Average daily TVL: $14,561,519
Average daily transactions: 56
Average daily volumes: $358,822
Number of unique user addresses: 834
Transaction fees: $22,107
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 1 completed for all addresses: Yes
Mechanism for distribution incentives: MasterChef Contract: 0x52F6159dCAE4CE617A3d50aEb7fAB617526d9D8F
Summary of incentives plan: Our strategy to scale USDC based GM Vaults have stayed the same. Rates can be adjusted if there is room for optimization. The launch of our ARB vault is coming this week so emission rates will be adjusted to accommodate the new vault. Emissions will be directed towards the ARB USDC vault so that demand for ARB deposits will scale.
Summary of changes to the original plan: N/A