The UMA KPI Options Airdrop is now claimable and the Super Uman campaign is live!
Tl;dr — This is the third and final post in a series of three KPI Options announcements. You can now claim uTVL tokens on the claim portal by connecting an eligible wallet to receive uTVL-0621 tokens. Next, you will want to increase the value of uTVL-0621 tokens by joining the Super Uman campaign in Discord.
“KPI Options” are a product type designed by UMA explained in our first announcement. The basic idea is that they target a specific “Key Performance Indicator” of the protocol, and payout according to that metric at some future date. We shared the qualifying airdrop addresses in this second announcement here.
uTVL Claim Portal and Tracking Dashboard
The claim portal allows you to connect your wallet and claim uTVL-0621 tokens. The ‘0621’ in the token name represents the month and year the option(s) will expire (i.e. June 2021). You will also notice that it reports UMA’s current TVL, as well as how much UMA the uTVL tokens are currently worth. You can visit the claim portal to see the current value of your uTVL tokens.
This isn’t a spectator sport. The more UMA’s TVL grows, the more your uTVL tokens will be worth. How can we work together to increase the value of uTVL tokens at expiry? That’s what the Super Uman campaign is all about.
The Super Uman Campaign
The community voted for “Uman” as UMA’s official “supporter” moniker.
Accordingly, “Super Umans” will be those who raise their hand to help support the uTVL campaign to increase UMA’s TVL over the next 3 months. To support this campaign and increase the value of your own uTVL tokens, join Discord and ‘raise your hand’ in the #super-uman-circle channel.
The campaign will have weekly vlogs updates to share what the Super Umans have accomplished last week and what we plan for the coming week. The community will work together to increase UMA’s TVL in three main ways:
- Help other DeFi teams launch their own KPI Options
- Encourage other projects to launch Call Options
- Help to brainstorm attractive Yield Dollar products
Help other DeFi teams launch their own KPI Options
The KPI Option design can be used by any Ethereum network project with a token. This product empowers them to align their community towards a specific goal. This one-pager explains to project teams how to use them. Super Umans can support this effort by creating and sharing explainers or by writing proposals for other teams’ governance.
Aragon and Indexed.finance are working on KPI Option launches and we aim to have others follow in their tracks.
The max payout for any KPI Option needs to be locked into UMA’s contracts, and therefore will count towards UMA’s total TVL
Encourage other projects to launch Call Options
Just like KPI options, Call Options can be launched by any team with a token. This is particularly attractive for teams with an idle foundation treasury of the project token. We have published a short explainer for how these can be launched by other teams. There are already two interfaces that can be used for this product, so it should be very easy for any team to launch their own.
Just like above, Super Umans can support this effort by educating others and creating explainer assets to that end.
Call Options can result in spikes of TVL because foundations may lock several millions of dollars in the contract in order to provide liquidity.
Help to brainstorm attractive yield dollar products
BadgerDAO will be launching the “CLAWS” product soon. This product allows for borrowing against two specific LP tokens to extend their utility. This is a bit like using Aave to borrow against assets, except UMA is typically able to accommodate asset types that lending protocols are less able to.
Similarly, OpenDAO will be launching yield dollars against the OPEN and OCEAN tokens. A yield dollar against the UMA token is live now, and it is currently the only place to borrow against the UMA token.
Yield dollar products can result in big TVL gains as they can be used primarily as lending vehicles. This is especially true if the collateral cannot be borrowed against elsewhere.
Conclusion
With the claim portal live, it is now up to all the uTVL token recipients to work together to increase TVL. There are three specific ideas that we will focus on for the Super Uman campaign: KPI Options, Call Options, and Yield Dollars.These are not the only ways to increase TVL: yield farming and liquidity mining both do so, and there are many opportunities for this with UMA.
With the recent launch of UMA’s Coinbase Earn campaign, the DeFi Accelerator program, and the industry’s growing awareness of the versatility of UMA there should be no shortage of fresh eyes or new opportunities to increase TVL.
Super Umans, unite! See you in discord.
