Double-Dip Campaign
Double your rewards. Vest your $SEED. Grow your $Bonsai.
The Double-Dip Campaign is Umami’s new limited-time rewards initiative designed to reward long-term depositors with more than just real yield. By staking your GM Vault deposits, you’ll continue earning passive returns as always, but now with a second stream of rewards, $SEED tokens.
This second stream doesn’t dilute vault performance. It complements it.
It’s simple, but limited: Real Yield + $SEED Rewards = Double-Dip Yield.
What is $SEED?
$SEED is a rewards token for stakers of Umami’s GM Vaults.
It exists on Aribtrum and Base, and serves a single purpose: to be redeemed for discounted $Bonsai. Once you earn $SEED, you can pair each token 1:1 with $Bonsai, vest the pair for 1 week, and then purchase that $Bonsai with ETH at a ~10% discount.
It’s simple, but limited.
The Redemption Pool only holds 2 million $Bonsai, and redemptions are processed first-come, first-served.
Once the pool is empty, redemptions pause until new supply is added.
How It Works
To earn $SEED, you’ll need to do two things.
Deposit into the GM USDC Vault. If you’ve already done that, great! You’re halfway there.
Stake your vault deposit.
As long as you’re staked, you’ll accumulate $SEED based on your share of the vault.
Unstaking will pause $SEED rewards. But more importantly, it will trigger Deboosting.
Redemption Flow
Once you’ve earned $SEED, you can redeem it to access discounted $Bonsai.
Here’s what the process looks like:
Pair 1 $SEED with 1 $Bonsai.
Vest the pair for 1 week.
After vesting, purchase $Bonsai using ETH at a 10% discount.
You don’t receive $Bonsai directly. You unlock the right to purchase it at a lower price, and the ETH you pay goes toward protocol buybacks, which support the ecosystem long-term.
If you vest during a time when the Redemption Pool is empty, your vesting position will still complete, but you’ll have to wait until more $Bonsai is added to the pool before executing the purchase.
USDC vs BTC/ETH Vaults
The two GM USDC Vaults are the primary target for the Double-Dip campaign, and will receive full exposure to the emissions stream. But ETH and BTC vaults will also receive a smaller boost in incentives.
To manage this effectively, ETH and BTC vault deposits will be capped.
This is designed to reward early stakers while keeping the emissions balanced across the ecosystem.
Where to Interact
$SEED rewards are earned inside the Umami vaults, but everything else happens on the Bonsai website.
That includes:
Pairing $SEED with $Bonsai
Vesting and executing redemptions
Tracking Redemption Pool status
The Umami app will only show:
The extra APR from SEED incentives
Viewing and claiming your $SEED
Clear breakdowns of staked, and liquid positions
Things to Keep in Mind
You must be staked to earn $SEED. Just depositing into the vault isn’t enough.
The 10% discount from $SEED redemptions is variable.
Redemptions are limited by the supply of $Bonsai in the pool. If it runs dry, you’ll need to wait for more.
This is just the beginning of SEED. A new layer of rewards, designed to support the long-term growth of both the protocol and its community.
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