What is the Risk-On Vault?
The Risk-On Vault allows users to provide delta neutral GMX liquidity by depositing GLP or USDC. The vault hedges ETH & BTC price exposure in GLP based on their current weights and also partially hedges Trader OI by systematically opening short positions on Aave + Uniswap.
Since GLP rewards its holders with both esGMX and ETH rewards, the Risk-On Vault is able to provide an extra boost in yield by auto-compounding ETH rewards into GLP & restaking earned esGMX & multiplier points.
What are the features?
- Risk-On Delta Neutral GLP vault
- Systematically opens short positions on Aave + Uniswap to neutralise ETH & BTC exposure
- Partially hedges Trader OI to reduce the variance from trader realised/unrealised PnL
- Earns stable yield on GLP
- Extra boost in yield by auto-compounding ETH rewards into GLP
The Risk-On returns are calculated by taking GLP Yield Share + Trader PnL - Hedge Costs.
Updated 22 Feb 2023
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