TLDR:
- TopGear concludes Phase-I of its capital allocation with two credit accounts, a 3x leveraged position and a scaling proposal underway.
- Brahma takes over ETH India 2022 and demos “Secret Project” to a closed group of DeFi gigabrains.
- Phase-II of community bounties are now live; highlighting November's Top Performers.
Crypto's volume and volatility tides soared high and deep this previous month of November 2022 with the market rug contagion leaving a dent in goblin town. But for the ones who keep shippooing and optimising round the clock, it's akin to riding with the bulls all year round.
Behold, for a new era of security jaded DeFi yield ft. BrahmaFi is in the works.
The bullish sentiments are however not limited to upcoming products in the pipeline. This previous month, Brahma Vaults loaded and parked in some assets specifically with the PolyGains DegenVault and TopGear Vault punching its Tier-I TVL upper limits and with ETH Maxi in close Tier-I cap vicinity. Continue scrolling to grasp an overview of the previous month's vault performances, upcoming plans and retroactive milestones.
Planned Vs. Achieved
PMUSDC Pool Updatooor:
In latest news, the PMUSDC Vault has re-entered the frax_usdc pool, parking 75% of its funds, after re-establishing its safu pool health status after weeks of market instability. 25% of $USDC currently remains saved as buffer funds, ready to deploy and maximise in future yield-generating windows.
All monitoring systems remain operational & Brahma’s risk management is taking avid actions to shield funds from any potential risk exposure.
TopGear Vault:
The TopGear Vault occupied the centre stage of November's product developments and upkeep with phase-1 of capital allocation concluding. As per latest updates, 330K of 350K $FRAX is now deployed on Gearbox V2, segregated across 2 credit accounts with further scaling and Tier-II TVL maximising plans in the works. Furthermore a proposal for Gearbox to deploy a new credit manager with higher limits for Brahma has been submitted. Read more below.
Additionally 1 of 3 months of 10K karma pot distribution is underway. All $FRAX diamond hands that plead speedy loyalty to the vault are being generously rewarded in karma points month on month.
2 of 6 months of Polygain's 10K Karma Pot distribution is WIP as well and all initial $MATIC devotees are sure to see some gains in their karma balances post this weekend.
ETH India 2022:
The Brahma Team attended the flagship hackathon in Bengaluru, India and met a ton of community degens, buildoooors and devs.
Shoutout to our frens from Polygon, Socket, Safe, Polynomial, and Dune among the others. We made sure the exclusive Brahma Merch as well as the way of Karma travelled wide and far. And while it surely did, we were here on another mission altogether.
Propagating our secret demo project to founders and DeFi gigbrains in order to gauge and tighten our beta launch in the coming few months. Nothing to see here, just honest work.
Stay tuned! Seek more alpha here.
Monthly Vault Performance
1. Total yield earned this month: 1458.4 $USDC
2. Average APY for the month was: 0.37%
3. Projected APY for Dec 2022 is: 4.5%
4. Signal accuracy for trades taken was: 75%
5. TVL filled: 1.0 of 1.7 mio $USDC
1. Total yield earned this month: 1.265 $ETH
2. Average APY for the month was: -1.64% (stETH price deviation: -6.75% APY, yield earned 5.11% APY)
ETH maxi performance was negative in November due to the steth price deviation with the FTX collapse contagion. This deviation would've seen the vault lose 6.75% APY however the yield accrued of 5.11% APY helped offset most of this deviation loss
3. Projected APY for Dec 2022 is: 6.35%
4. Signal accuracy for trades taken was: 75%
5. TVL filled: 319.94 of 333.33 ETH (95% filled)
1. Total yield earned this month: 2466.7 $MATIC
2. Average APY for the month was: 12.3%
3. Projected APY for Dec. 2022 is: 15%
4. Signal accuracy for trades taken was: 100% (Positively rebalanced by $LDO rewards)
5. TVL filled: 472K of 600K $MATIC (78% Filled)
TVL filled: 350 of 350K $FRAX (100% filled)
Latest trade position: 3x leveraged on 29th Nov.
Prev. 7d average $ETH Borrow Rates: 4.85%
View active credit accounts here
Plans ahead, December 2022 and beyond
TopGear Proposal
The TopGear vault has filled and scaled into its active credit accounts quickly. In order to leverage its yield maximising avenues, the Brahma Team has published a proposal to acquire a new credit manager with higher limits. This would unlock higher limits deployed by Gearbox to be able to scale TopGear with less Credit Accounts required,and launch additional products on top of Gearbox V2 with Brahma's risk management wrapper.
Check out the proposal link here
Additionally, Tier-II TVL is opening up soon enough. Make sure you revert with your scaling expectations and let us know you're ready to deploy your bags by taking a quick notifier survey here.
Balancer Integration
For the PolyGains Degenvault, Brahma Devs have started assembling operations in order to build a Balancer integration to further boost yield maximising opportunities and the vaults' scaling capacity, overall. This will require a migration for all Polygains users, so keep an eye on this space.
To continue boosting the base yield week on week and positively rebalance trades, Brahma would be employing received $LDO rewards until the Balancer integration is in action, these coming few weeks.
Cue for fellow degens waiting in line for PolyGains DegenVault's Tier-II TVL unlock, undertake a quick survey to help us better estimate scaling arrangements here.
Community
Phase-II of Karma Bounties are in full force with new tasks and contribution avenues unlocked. Leave in strategy feedback, proceed to craft meta-product reviews and design with or without AI, no judgements. Just more karma points to add to the bag.
Participate now: bit.ly/BrahmaBountyProgram
November 2022 Top Contributooors:
@goodie#1405
@hossien#8888
@defigen#4296
@oracle#3193
Big props to our 100+ contributooors and survey assistooors in helping make community empowered decisions and here’s hopium to see more contributooors onboard to propagate the way of karma.
We'll be back soon to round up the year's biggest hits, marked optimisations, and fresh (did we mention groundbreaking) additions to the citadel roadmap.
Until next time!
For more updates: Twitter | Discord
Disclaimer: The content of this post is provided for informational purposes only.
This article is not an offer of securities, an invitation to sell or a recommendation to subscribe for or purchase any securities, and it has been prepared without any consideration of particular investment objectives. Nothing herein constitutes investment advice or recommendation.