Umami vaults
About Umami
GM Vaults enabling single token deposits with automated hedging on GMX v2.
The current listing contains $98.2K TVL in 2 vaults with a TVL-weighted average APY of -4.0% (annualised, last 30 days).
Built on the upgraded GMX v2 platform, GM Vaults enable users to deposit single tokens like BTC, ETH, USDC and ARB, while eliminating impermanent loss through automated hedging called "internal netting". These vaults utilise the GM Index (GMI) to manage deposits and generate yield from four distinct synthetic pools on GMX V2, ensuring a stable and lucrative environment for depositors.
A crucial element of Umami's hedging strategy is internal netting. Each of its Vaults acts as a hedging counterparty to the others. Instead of costly external hedges, Umami's Vaults swap delta among themselves while keeping the vast majority of their TVL deployed to generate yield.
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| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
gmUSDC Umami | -2.0% | -4.4% | 6.7% | -3.4 | 0.7% | -8.3% | USDC | $53.21K $3.82M | 2.7 | 2.0%/ 20.0% | 3d | Severe |  | ||
gmUSDC Umami | -6.4% | -6.3% | 2.6% | -7.5 | 0.6% | -4.2% | USDC | $45.00K $4.54M | 2.5 | 2.0%/ 20.0% | 3d | Severe |  |
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