Zunami Protocol News — Monthly Performance Report
Disrupting the TradFi with the strength of Zunami APY formula!
Welcome to the first month’s summary of the Zunami Protocol operations, where we also highlight the most vital events in the cryptocurrency and DeFi space.
This DeFi digest is distributed every month as a newsletter. Don’t miss out on the chance to know more — subscribe right away on our website!
The refreshing wind of spring brought in a good old welcoming and relieving feeling to the crypto market which showed some signs of the long-anticipated end to the bear market. While the profit from risky assets decreased significantly, more users turned to stablecoin farming. Taking this into account, we have been very fortunate to choose the right time to start operations.
Zunami Protocol was launched one month ago — on March 18th — and we have successfully gained the first wave of users! Today, our protocol is actively used by more than 100 clients with Zunami’s TVL reaching the $1.000,000 mark in the 3 weeks since the launch. Meanwhile, the all-time-high of the stablecoin strategies reached an astonishing 41.35%!
The team considers this a successful launch, and we want to tell you more about the current operational features of our innovative DeFi platform.
Let’s dive deeper into the gears that enable magic under the hood!
At the moment, Zunami Protocol is integrated with two platforms — Convex and Anchor. We use 3 strategies that work in parallel with each other:
— 1) LUSD pool on Convex. The LUSD stablecoin is a super-collateralized Ethereum, a model of stability and reliability to follow in DeFi. Moreover, the project itself has perfect mechanisms for pegging its stability and is currently enjoying a substantial amount of funds in pools on DEXes.
— 2) USDN pool on Convex. The USDN stablecoin is also a super-backed token, but unlike LUSD, it is backed by the Waves tokens mostly. The Waves company has been in the crypto market for over 6 years and its market value exceeds $3 billion. Despite recent USDN volatility, we consider this pool to be one of the best ones regarding return/risk ratio.
— 3) UST pool on Anchor. The UST stablecoin is issued by the Anchor platform. With TVL exceeding $15 billion, Anchor gives 19.5% APY for liquidity provided in the form of UST tokens. Offering a fixed rate of return, and in the event of a market correction, they will be able to give a better APY than Convex pools.
One of our initial goals since the start was to make DeFi on Ethereum accessible not only to crypto whales. And we nailed it! The TSM helps to reduce the cost of deposits and withdrawals for ordinary users. The average cost of a deposit in Zunami since the launch was $17.4, which is many times less than the cost of a deposit in other rival protocols.
Zunami’s firm mechanism that provides automatic sale and reinvestment of rewards has brought users over $10,000 during the first month of operations. It has also greatly simplified the user’s routine by doing all the heavy lifting for them, allowing one to enjoy the power of compound interest. We have also decided that until the launch of the DAO, Zunami will not take any commissions from users’ income! The management fee will remain 0% for now.
We have also released an update that enables integration with Wallet Connect — an open protocol that allows running our application in any mobile browser using one of more than 100 supported wallets, just install it on your smartphone! Users will be able to interact securely with any dApp on the market from their mobile device, thus making WalletConnect-enabled wallets a safer choice than desktop or browser extension solutions.
Coinbase Wallet is a non-custodial wallet product that lets customers store their own crypto and use dapps. This wallet extension is one of the safest and easiest ways to use crypto apps in your browser. The Zunami team has integrated support for this highly popular wallet to enable a broader inclusion of the crypto audience worldwide.
Dear community! We at the Zunami team would like to thank you dearly for your contribution to the project development! The 2 stages of the Ambassador Program lasted for half a year already and made us happy with tons of great content, cool artworks, and videos. Right now, we see a clear need to end the program as we approach the Testnet stage. We will choose the top contributors on the Leaderboard and make sure that everyone will receive the relevant reward! The exact date will be announced later, closer to TGE.
The Zunami team aims to improve the user experience by releasing an enhanced interface in the forthcoming future. We always strive to deliver a better experience and will not stop until the end result matches our vision.
Zunami team believes in the multi-chain future and clearly sees that other blockchains are rapidly developing into ecosystems. We do not want to lag behind and therefore the team plans to add support for more networks. The next version will support Avalanche and we plan to address other gaps than in the Ethereum version concept.
Next, the Testnet is also planned as we need to test new functionality such as highly-promising Lockdrop and Staking features (you can see those features already hinted at on our Dashboard!).
And finally, the Zunami crew plans to announce and hold an investment seed round within the next month. Considering the popularity of our solution, fast-growing TVL, and astonishing APY, we see no problem in achieving our ambitious goals.
You can check out our detailed roadmap on the official website.
Zunami Protocol has become a very profitable solution in the stablecoin farming segment as we are raising the bar for profitability and trying to set an example for other protocols to follow.
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Thanks for reading the Zunami blog!
Your Zunami Team
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