STIP Bridge Campaign
Last updated
Last updated
We are thrilled to announce that Umami Finance is participating in the Arbitrum STIP Bridge campaign. This campaign is designed to boost activity on the Arbitrum network by distributing $ARB incentives to top-performing protocols. Umami Finance is proud to be a part of this initiative, reflecting our strong commitment to delivering premium yield products and maintaining a robust presence in the Arbitrum ecosystem.
The STIP Bridge campaign will run from June 18th 2024 to September 17th 2024, spanning a total of 12 weeks. During this period, Umami Finance will receive 375,000 $ARB tokens, which will be distributed as incentives to our GM Vault depositors.
The $ARB incentives will be allocated as follows to maximize the benefits for our users:
USDC Vaults: 80% of the total $ARB incentives will be allocated to USDC Vaults. This ensures that USDC depositors receive the majority of the rewards, reflecting the high demand and stability of USDC in our vaults.
ETH and BTC Vaults: The remaining 20% of the $ARB incentives will be split between ETH and BTC Vaults. This allocation ensures that all major assets in our vaults receive a significant boost in APR during the campaign.
Please note that the allocation of $ARB incentives may be subject to adjustment upon the release of the ARB Vault. While we aim to distribute incentives as outlined, the addition of the ARB Vault may necessitate a reallocation to ensure optimal distribution across all vaults. We will keep our community informed of any changes.
In addition to the direct $ARB incentives, Umami will be able to capture additional $ARB rewards on the GMX platform throughout the campaign. These rewards will be distributed to our vault depositors after the campaign ends, providing an additional month or moree of $ARB incentives. This unique approach ensures that our users continue to benefit from high yields even after the initial campaign period.
Following the STIP Bridge campaign, we are confident that Umami Finance will be part of Arbitrum's Long-Term Incentive Program (LTIP), which aims to extend for an additional 6-12 months. This continued participation ensures that our GM Vaults will receive ongoing $ARB incentives, further enhancing the already top-performing assets. Users staking for longer time frames can look forward to stable and high yields backed by sustained $ARB rewards.
To participate in the STIP Bridge campaign and earn $ARB incentives, users need to deposit their assets into our GM Vaults. After depositing, users must hit the Stake button to ensure they are eligible for the rewards. Detailed instructions can be found in our full guide -> How To Deposit Into GM Vaults
