Perp’s Bi-Weekly Update #62
Hey there,
Are you effortlessly growing your crypto holdings with Hot Tub vaults yet while touching grass and enjoying the summer? In this newsletter issue, we’ll have a look at the past Hot Tub performance and on top of that cover all the recent updates in the Perp ecosystem. Let’s dig in!
🛠️ Product
1. Hot Tub Vaults Update
The Hot Tub vaults TVL is approaching $2 million! All time APYs (annual percentage yield) range from 13% for ETH to 10% for OP, 3% for WBTC, and 5–16% for the USDC vaults. With the whitelist gone, you can now deposit to the vaults right away!
Take advantage of the ETH vault’s open capacity to earn a double digit yield in ETH. Rather want to sit in stables? Deposit USDC to the OP-USDC vault with a 30-day APY of 19% at the time of writing.
2. Updated Pool Party Rewards Calculation
In our ongoing efforts to ensure Pool Party (liquidity mining) rewards are distributed fairly and incentivize healthy liquidity, the rewards calculation has been updated. The new calculation will help makers who are providing liquidity on longer timeframes compared with HFT makers, which have recently seen a large increase in activity on the protocol. If you are a maker and have questions, please open a ticket on Discord. We’d love to hear from you!
3. Collateral Deposit Caps
In order to keep collateral deposits within a safe range of liquidity available more broadly within the Optimism ecosystem, we have decreased the deposit caps for USDT from 500,000 to 300,000, and for OP from 600,000 to 300,000.
🤝 Community & Partnerships
1. Listen: Spaces Recordings
- DEX chat: An AMA with other perpetual futures DEXes (decentralized exchanges) on the future of DeFi
- The Optimistic Rollups panel discussion hosted by Pontem Network is now on Spotify
2. Next Edition of the Perp Summer Game Fest
Don’t want the summer to end yet? Come join us for the next game of the Perp Summer Fest, happening right after this week’s Community Call on August 9th at 2pm UTC! The Perp Summer Game Fest is a series of weekly casual games held in the Perp Discord for people to hang out just for fun, including small prizes paid out in $PERP to the top 2 winners of each game: 20 PERP for first place, and 10 PERP for second.
3. Community Call #56
This week’s Community Call will be held on Wednesday, August 9th at 1pm UTC. As usual, we’ll cover the latest product and community updates. Join us live on Youtube and claim an NFT!
