ICYMI #7
Week ending 26th March
TVL Snacks is live
In crypto, token price can be driven by a number of factors. One important metric for defi projects is the TVL (Total Value Locked) as a measure of the combined value of deposited assets in a protocol. TVL Snacks, allows you to directly trade the TVL of all projects listed on Defi Pulse. The token expires on April 15th when the price settles to the sum of the TVL in USD of all projects listed on DeFi Pulse divided by 1,000,000,000
How to use Call Options
uLabs have put out a couple of posts detailing how call options work in general and some more details of how UMA has implemented these financial contracts and minted call options for $UMA. A follow up article, explains how DeFi communities can utilise call options to align incentives, to ensure that there is only sell pressure for the token if the market is bullish. If your project would be interested in leveraging call options for your community come join our discord and drop a mod a message.
Put Options — a compliment to Call Options
So far, UMA has only implemented call options, which give you the opportunity to purchase at a fixed price at a future point, however one of our community developers is exploring the creation of put options, which allows people who want downside protection on an asset to purchase an option to sell at a fixed time, should the price drop below an pre-determined value.
Merkle Tree Internal Learning Session Available
UMA holds internal learning sessions on key elements of technology and financial engineering to ensure our team have a good understanding of how our protocol works as it develops. Our latest session involved exploring Merkle roots and how they are being used to validate those who are eligible for the KPI options airdrop and is now available publicly for anyone who wants a deeper understanding of how Merkle Roots work and why they are so important.
Aragon KPI options Proposal
UMA’s KPI Options airdrop caused quite a stir and the same mechanism is now available for other protocols to use. Aragon is now proposing utilising this mechanism to incentivize DAOs to migrate from v1 to v2 of their protocol. Options would be distributed to all v1 DAOs, who would then be able to redeem their options, with the value dependent on how quickly the DAO upgrades to v2, and their proportionate share of value in the Aragon protocol.
Calling all Super UMAns
Talking of KPI Options (wen options? Soon, my crypto buddies, very soon), lots of people who are eligible for options have been asking how best to maximise their options through raising the TVL of UMA. We are inviting all members of our community to become Super UMAns and to raise awareness of their potential and flexibility to help other Defi communities to achieve their key goals by motivating their community to work towards a common goal. Sign up to be a super UMAn on our discord, and watch the first TVL vLog on how to maximise your own options while encouraging other Defi protocols to grow.
And finally …Coinbase Earn
If you are still a bit confused about how UMA works under the hood, there is the opportunity to learn all about the protocol , with three animated explainer videos over on Coinbase Earn. If you answer the questions correctly in the short quiz, you can even pick up a little $UMA at the same time. There is a limited amount available and a lot of interest, so do be quick.
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