🧁 GMX Leverage GLP Vault
Last updated
Last updated
GLP is GMX perpetual exchange's global liquidity pool token that constitutes multiple tokens, mainly stablecoins, BTC and ETH. This vault strategy works in tandem with the Stablecoin Lending Vault by borrowing stablecoin from the lending vault to enter a leverage position in GLP.
The leverage we are using is 3.25x. Initially the design of the GLP 2.25x leverage vault is referenced upon the JonesDao vault, which is a leveraged GLP vault only available on Arbitrum. We have done our own back-testing and researched on various models for the leveraged GLP vault and found that that 3.25x is the most optimal leverage.
Baklava Space is the only similar offering on Avalanche.
Method
Deposit sGLP or GLP component assets Into the vault. This vault will borrow USDC from the lending vault to purchase more GLP, achieving a leveraged position of 3.25x.
User Profile
For GLP and GMX maxis who want to double down on their GLP positions.
Yield Source
Borrowed GLP
Risk
Principal not protected as GLP deposited is used as collateral to borrow from .
Lockup
No Lockup, principal can be withdrawn anytime.
Payout
$AVAX
Start Date
2023 on Avalanche.
Management Fees
10% of leverage earnings is charged as management fees (note:we do not charge on your principal earnings)
As a comparison, JonesDAO on Arbitrum charges 20% management fees as of March 2023
Withdrawal Fees
0.5% withdrawal fee