SuperUMAns #31 - Tetu KPI options and my passive income
We had an amazing party at the end of Q2 and we went back to work after. Quarter 3 of 2022 is about raising the TVL and the implementation of Outcome tools.
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. Read more about Outcome's tools and vision in SuperUMAns #29 - Outcome Protocol
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 discovered the Tetu earning opportunites at the start of the year, when I provided UMA - USDC liquidity. The $UMA value was high back then, pairing 1326 USDC with only 183 UMA. You triple earn while providing liquidity on TetuSwap, by investing in two underlying strategies and earning additional rewards on the yield platform
Tetu was at $0.034, UMA at $7.23 and USDC was at $1, keeping that USD peg according to standards. I will have to wait until $UMA grows to the same value to withdraw without being affected by impermanent losses. The other pools I deposited are single staking, dxTetu and USDC, with simple but risk-free rewards. Read all about the earning strategies in Superumans #28 - Using Tetu for UMA powered DeFi earnings
The USDC - UMA LP is deposited into the Tetu yield farming vaults to earn rewards, and 90% of the profit auto-compounds to the underlying assets. The current vault APR is 63.26%, while the USDC current APR stayed stable at 0.46%.
The rewards are not totally locked, but have a 90 days linear locking where users can claim 100% of the rewards only after the deadline. I claimed $41.93 worth of $TETU on the 4th of July. Staked them in the single pool for extra rewards.
Claimed 4865 xTetu from the dxTetu Diamond Vault, the governance vault. This vault provides gains in early penalty fees, emissions rewards, investment fund gains and votes in DAO proposals. The early withdrawal penalty will be distributed between the users of the vaults. The current APR is 3.59% and depositing additional funds or claiming rewards without withdrawing will not reset the lock. Given the above condition, I decided to deposit the xTETU rewards to the other 7366 already deposited.
The xUSDC pool has a dFORCE/ AAVE/ MESH/ MARKET path, offering 5.30% rewards in $TETU. After the last round of claiming rewards, my current investments are bringing a steady flow of income. But that's not all.... the Tetu and Outcome KPI option integration is live!
The automated yield farming strategies used by Tetu are just the beginning, 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.
Contributors earn rewards in 3 exciting 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.
If the TVL is below $300,000 at expiry date, the 30th of September 2022, each KPI will pay out 0.25 TETU. If the TVL is above $300,000 then the KPI will pay at least 0.50 TETU, up to 1 TETU if will reach $300,000. I am currently farming TETU-LP-KPI from the UMA - USDC LP, with 6055 tokens ready to be claimed.
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