Here's Rounding up Brahma's 2022 Q1 Milestones

Here's Rounding up Brahma's 2022 Q1 Milestones

Ngl, Q1 of 2022 has been a labyrinth.

Traversing a leap in TVL and product complexity from $107K via AASTRA to capping a $1mio TVL via our premier cross-chain DegenVault strategy in less than 16 hours has been quite a milestone. But as we descend from this quarterly maze, Brahma looks back and recalls some momentous events that have etched and will be etching the stature of sustainable yield as you may know it today.

Here's a brisk Q1 recap:

A. Brahma birthed the eternal concept of KARMA, an active community scoring mechanism that measures users' onchain + offchain activities, with the long-term vision to rightfully reward authentic action and involved members.

As the community surpassed its 4.20K member milestoner moment on Twitter and Discord alike, the KARMA leaderboard came into existence to highlight and celebrate the apex frogs of the community.  

Hold tight. 6.90K is a target too near to the mark.

KARMA Hall of fame is slowly taking shape with newer achievements. Sign enough to keep compounding KARMA?

B. We take our meme numbers way too seriously, whether it's on or off the table. Brahma closed a seed round of $4.2069mio, announced this February 2022 by banding with industry luminaries, propelling us closer to our vision of enabling seamless cross-chain yield for everyone.

C. Le DegenVault came to life.

Brahma’s strategy vaults aim to generate sustainable yield for users by harnessing the best DeFi-native yield opportunities together with the exciting enhancements that derivative strategies provide.

Sustainable yield, cross-chain composability, and a seamless user interface have always been core values of DegenVaults.

The core contributor team composition highlights these ambitions with a happy marriage of DeFi degens, shadowy super coders and ex-TradFi boomers who fell in the DeFi rabbit hole. Importantly, the yield strategies are scalable with TVL ambitions.

Brahma’s first DegenVault, the Protected Moonshot DegenVault, was opened for deposits two weeks ago and the deposit cap was reached in less than 16 hours. For a full explainer please see our previous post

Kickstarting our partnership with Perp Protocol and Socket, last Friday the strategy completed its first harvest cycle with an accrued interest of around $2400.

With our first trading cycle, completing today, the 1st of April 2022, here are some key details about the vault performance this week:

1. Position closed at: $3272

2. Trading profits: $687

3. Total yield generated this week: $3094 (APR of 17.4%)

4. Next trading week, harvested rewards value: $2529.340445

5. 8x Leveraged Long ETHUSD trade opened at: $3430

D. We left the best for the last. Speaking of which, big props to our entire community for enrapturing Brahma throughout. It wouldn't have been conceivable without such a tight-knit support system. Highlighting members from the community who deserve the limelight:

  • All Brahma chads who have kept the community alive with suggestions, ideas and contemporary resources. You know who you are, thank you.
  • Le Bag Hodlers for constant assessments and internal optimizations.
  • Brahma Frens and Degens for resourceful assistance.

And if you must know, at the time of drafting this blog we have gmed each other 9354 times in consolidation on the server. wottt???

While we close for Q1 with immense gratitude and hefty plans in progress, you must rightfully know that a rebranding is incoming, more vaults and diversification are being excavated, KARMA is being renewed + rebalanced, new partnerships are in-line, vault audits are scheduled in April, and $BRAH token is incoming, frens.

That's all from our side folks. See you next Friday with more yield sauce!

Till then stay tuned on Brahma's Twitter and Discord ⚛️

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