Week Ending 24th April
BAL and UNI Call Options now available on the UMA protocol
BAL and UNI call options are now available on UMA, with strike prices of $90 and $50 respectively. Both option types expire on 31st May 2021. As with the previous UMA and xSushi call options, these are European Options which can only be exercised at expiry and can by minted on the MySynths Dapp. For a deep dive into how options on UMA are performing, @samchepal has written a in depth analysis of the xSushi Call Option.
Clayton Roache Interviews 0xMaki
This week, Community Lead, Clayton Roache interviewed 0xMaki of Sushiswap , on why they chose to work with UMA to create decentralised, permissionless call options and the potential that he foresees with KPI Options to align individual and community incentives by setting goals through options. He also shared this thoughts on the UMA community led SuperUMAns initiative and welcoming SuperUMAn collaboration to explore the metrics for KPI Options for the Sushi Community.
Bankless Op-Ed from Hart Lambur on Synthetic Assets
Writing in the April 23rd edition of the Bankless Newsletter, Hart Lambur compared synthetic assets to alchemy, based around a simple formula of
Explaining that “In the same way that youtube has allowed new forms of long-tail video content to flourish…synthetic assets will enable new types of financial products that we haven’t even imagined yet”, inviting defi degens to explore this long tail and what kind of synthetics could be created.
UMA Talent Referral Options Programme
The difficulty that defi projects have in recruiting highly skilled and experienced personnel is well known across the industry. UMA has a number of vacancies available that we are seeking applicants for. To identify qualified applicants, UMA has launched a talent referral programme where someone making a candidate introduction for one of UMA’s advertised roles is offered an option worth 1000 $UMA (approx $25k at current prices) for successful candidates who remain with the UMA project until their 12 month anniversary.
Badger Rebase Mining and Airdrop
This week Badger DAO also announced that it will introduce “Rebase Mining” for its algorithmically BTC pegged token, $DIGG. Badger will airdrop KPI options, with criteria centred around positive rebases, to users of the Badger DAO protocol, based two snapshots — one taken on the 21st April, and another which will be taken just before the airdrop launch on May 7th. The tokens expire on 7th June where the amount of $DIGG received depends on the number of positive rebases that the $DIGG token has achieved within that time frame.
And finally…Cryptopunks on UMA
No one in crypto can failed to have noticed the buzz around NFTs of late, and some of the most established and most valuable NFTs are Cryptopunks, with one traded for 4,200 (over $7m) last month. uLABS has now designed a synthetic NFT index token based on the CryptoPunks collection, named uPUNK. The index value is calculated by computing the median transfer price of all CryptoPunks transferred over the last 30-days. With the uPUNK synthetic token, users can now create long or short positions on CryptoPunks to reflect their views, or hedge any existing positions.
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