SuperUMAns #42 - Claiming my Tetu x Outcome KPI Options I discovered Tetu through the SuperUMAns, when they implemented KPI Options based on the TVL. Tetu is the Polygon Web3 asset management protocol that aims to creating and provide innovative yield management solutions for DeFi users.
Risk Labs, the team behind UMA and AcrossProtocol launched Outcome Finance to help DAOs that are looking for positive outcomes. The main goal is to help smart contracts take more of the work out of human hands. This was implemented by Tetu to enhance their deep industry knowledge in building back-end international banking systems and yield farming protocols. https://twitter.com/AcrossProtocol http://outcome.finance./
KPI Options are the most flexible tool, created to support DAOs that need to align the incentives of the community with the underlying fundamentals of the protocol. The Tetu KPI option was created to boost TVL and generate positive outcomes for the project. I staked UMA-USDC liquidity, and staked the xTetu rewards for extra gains.
I kept staking the farmed Tetu on a monthly basis, ensuring 100% of the reward is claimed. The Tetu Diamond Vault (dxTETU) is the governance vault, providing gains from the early penalty fees. The depositors will have a linear lock of 90 days, with no penalty once the locking expire.
The automated yield farming strategies used by Tetu are offering a safe and secure method across multiple blockchains providing decent, stable yields, combining auto-compounding with xTETU token distribution. Owning xTetu will qualify you for a share of the profits, while they will keep generating income, becoming scarcer over time, but the main driver of the price will be the stable income provided. The LP providers will earn rewards in three ways: First, contributors earn a share of LP fees, then pool tokens incentivize stakers by paying $xTETU yield bearing token rewards. Finally, TETU stakes each side of the LP into auto-compounding vaults, increasing the reward APR. https://twitter.com/search?q=%24xTETU&src=cashtag_click
The TETU x Outcome KPI Option focused on the protocol's TVL, with the expiry date set on the 30th of September 2022. The Total Value Locked influenced the value of the KPI, which started from 0.25 TETU per Key Performance Indicator. If the TVL was above $300,000 then the KPI would have paid at least 0.50 TETU, up to a maximum 1 TETU if would have reached $300,000.
My share of TETU KPI was 13,229 tokens, and I redeem them on the UMAverse. The conversion was at 0.31 Tetu per KPI, according to the TVL on the 30th of September 2022.
I swapped 14,299 for 3557 TETU, and received the reward instantly in my wallet. The amount could have been higher, but TVL is not the best metric during a perpetual bear market.
Bear market hit Tetu as well, considering the $TETU value was 0.03 USD when I started exploring the protocol. The big bag of claimed TETU was worth it 52 USD, with each token being valued 50% less then it was few months ago. The obvious choice was to stake them in the Diamond Vault, and make more Tetu out of the redeemed KPI options.
Earning 1.73% APR may feel low, but this percentage is before adding the shares of the early withdrawals of other users. I am now holding 58,800 TETU and I plan to let them grow. It's not much but is honest work!
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2 comments
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