FAQ
Brahma manages interactions and risk with multiple chains, dApps and instruments in a fully transparent and composable way, so you can earn yield, hedge and deploy capital in an efficient manner.
DegenVaults are an experimental set of strategies that are built for early adopters and highly experienced DeFi users. This vault aims to earn yield by taking delta-neutral positions to capture staking rewards and funding fees.
Yes, Brahma’s architecture has been audited by leading security firms namely Consenys Dilligence and Zellic. You can see the audit reports at Audits.
No, there currently is no token yet.
Note, the prev. PMUSDC DegenVault has now been converted to main vault: https://app.brahma.fi/vault/pmusdc
It’s a single-sided deposit vault with USDC as an asset for V1.
Deposits and withdrawals are processed weekly on Friday at 11:30 UTC and automatically accepted/sent to the user's wallet post request within one hour. Requests made past this time frame are processed on Friday of the forthcoming week.
There are multiple risks associated with Protected Moonshot vault:
- Depeg of FRAX [In its lifespan, there were few instances but it has been quite stable]
- Exit liquidity on FRAX-USDC pool [There might be liquidity issues on the FRAX pair]
- High slippage: There might be a scenario of high slippage associated with the strategy as we rely on multiple bridges, AMMs, and perpetual exchanges. [We optimize the order execution for low slippage, always]
Brahma is integrating more protocols and variables to make the strategy robust as well as making the UI as smooth as possible, while keeping it simple. Feel free to add your feedback/ report your issue here:
No, there are no limitations on per-user deposits, currently.
As per our backtest results, this vault projected APY is approx. 12%. The APY will automatically update in the next weeks as the vault performs the various weekly trading cycles.
Initial vault APR will be the current yield of the stable coin pool plus the expected derivative strategy return. This will then be updated with the actual derivative strategy return (the average of all previous weekly returns annualized)
More info on the backtesting process here:
1) What's the projected APY on this vault?
The projected APY of the vault is 12.25%, based on strategist backtests and simulations. Backtester Explainer is upcoming. In the meanwhile, here is a strategy overview TopGear
2) Help! I need a brief strategy explainooor.
The Topgear Vault boosts $FRAX deposits up to 12.25% by taking leveraged long stETH, short ETH position against FRAX collateral to capture the difference between ETH borrow rates and stETH staking yields. Brahma’s real-time risk management and execution infrastructure ensure the position leverage is actively managed to prevent liquidations while maximising returns.
3) Any Deposit/Withdrawal limits?
- Min. Deposit is 2500 $FRAX (or equivalent) / Whale mode access: Min. 50k worth of $FRAX/USDC/DAI/LUSD in wallet
- The Vault runs on monthly withdrawal cycles (epochs), ending on the last Thursday of each month at 12:30pm UTC (epoch end). Withdrawal requests submitted before the epoch end will be processed on epoch end, while any withdrawal request submitted after it will be processed on the next epoch end (last Thursday of the following month, 12:30pm UTC). Users will see their withdrawal amounts as “ready for withdrawal” once the withdrawal requests have been processed and can complete the withdrawal transaction.
4) What is the Gearbox Vault cap?
The vault will launch with a Tier-I TVL of 350K $FRAX
5) Will the APY drop over time? APY may fluctuate based on market conditions and other factors including base rewards.
6) Which blockchain should I use to deposit?
The Vault will accept single-sided $FRAX deposits on ETH Mainnet. Zap deposits are enabled, which users can use to swap other assets for FRAX and deposit in a single transaction.
7) Why should I use Brahma’s TopGear instead of GearboxV2 directly?
You should use TopGear if any of the below apply to you:
- You don’t want to wake up in the middle of the night and adjust your position because a picture of Vitalik’s dong pumped the price
- You don’t enjoy being liquidated
- You want subsidised gas costs for all Gearbox interactions
- You don’t meet the minimum borrow requirements to use Gearbox directly
- You want to stack $KARMA
8) How many KARMA points do I need to enter the Vault?
69 and above, fren
9) What happens if my KARMA points fluctuate below 69 after aping into the vault?
Nothing to worry about, your position is still secure.
10) What are the risks associated with this strategy?
There are multiple risks associated with PolyGains DegenVault:
- stETH market price & Curve slippage which the vault might experience when unwinding its stETH position
- Liquidation Risk: As the Vault takes leveraged borrowing positions there are liquidation risks. The main source of liquidation risk is the stETH:ETH price
- Smart Contract Risk: Funds in the vault are exposed to BRAHMA's smart contract risk as well as the smart contract risk of the underlying protocols that funds are deployed in.
The highlighted risks are monitored and managed by Brahma’s infrastructure in order to mitigate them. More here [LINK risk page]
11) Is this Vault Audited?
The DegenVault is undergoing a thorough peer-review before its release.
DegenVaults are unaudited initial strategy launched available only to a limited set of investooors with high risk-reward tolerance based on Karma thresholds set to enter the vault. (Check to see your eligibility: https://karma.brahma.fi)
12) What are the vault fees?
There is a 10% performance fee on the positive PnL the vault achieves.
Additionally, a withdrawal fee of 0.5% is charged by the vault to cover the potential costs of having to close and re-open Credit Account positions. As the vault scales to more credit accounts, this fee will be reviewed.
13) How can I avail the TopGear 20K Karma prize pot?
Stay vested in the vault month on month for a phase-wise release of the 20K Karma Prize Pot.
Brahma’s Karma Prize Pot is set to go live with the launch of the Topgear Vault. A set of the early depositooors of the vault will win the KARMA pot and rewards will be distributed proportionately. While we cannot disclose the mechanism of distribution at the expense of having the system gamified, being quick to ape-in, having a long-term approach and depositing up and beyond the minimum value may halp. The Karma points will be vested over a period of 12 weeks and announcements about the distribution will be made on the official Discord and twitter channels by the Brahma Team.
14) I am facing an issue/ I have a suggestion. Where do I navigate?
Brahma is integrating more protocols and variables to make the strategy robust as well as making the UI as smooth as possible while keeping it simple. Feel free to add your feedback/ report your issue here:
The vault will launch with a Tier-I TVL of 600K $MATIC.
69 and above, fren
Nothing to worry about, your position is still secure.
The projected APY of the vault is 22.8%, based on strategist backtests and simulations. Backtester Explainer upcoming. In the meanwhile here’s a strategy overview: https://twitter.com/BrahmaFi/status/1569725744317886465
No, the PolyGains DegenVault has no specific limits. Deposits and withdrawals will be processed instantly.
The DegenVault will accept single-sided $MATIC and $wMATIC deposits on Polygon.
The PolyGains DegenVault boosts $MATIC deposits up to 22.8% by taking advantage of the highly volatile nature of crypto. While user principal remains protected at all times, the APY may fluctuate based on market conditions, accuracy of weekly trades taken and other factors including base rewards.
The DegenVault is principal protected in the long-haul.
TL;DR funds safu.
Only the yield is harvested weekly and used to take leveraged systematic bets on crypto prices, while the principal is safely deposited at the stMATIC/MATIC CurveFinance’s V2 Pool.
This means that your principal doesn’t have liquidation risk and the trading doesn’t affect your principal, rather only your yield.
Backend infrastructure ensures that pools are monitored consistently with automated alerts set to provide actionable warnings in the event of a change in pool health.
There are numerous risks associated with PolyGains DegenVault:
- Depeg of $MATIC/$stMATIC pool
- Exit liquidity on $MATIC/stMATIC pool
- High slippage: There might be a scenario of high slippage associated with the strategy as we rely on multiple bridges, AMMs, and perpetual exchanges. [We optimize the order execution for low slippage, always]
The DegenVault is undergoing a thorough peer-review before its release.
DegenVaults are unaudited initial strategy launched available only to a limited set of investooors with high risk-reward tolerance based on Karma thresholds set to enter the vault. (Check to see your eligibility: https://karma.brahma.fi)
Brahma’s Karma Prize Pot is set to go live with the launch of the PolyGains Vault. Deposits of higher than 250 $MATIC are eligible for the prize pot distribution.
A set of the early depositooors of the vault will win the KARMA pot and rewards will be distributed proportionately. While we cannot disclose the mechanism of distribution at the expense of having the system gamified, being quick to ape-in, having a long-term approach and depositing up and beyond the minimum value may halp. The Karma points will be vested over a period of 12 weeks and announcements about the distribution will be made on the official Discord and twitter channels by the Brahma Team.
Note: The ETH Maxi DegenVault prize pot is scheduled to be deposited once the strategy is converted as a main vault. In the meanwhile, do not accept “prize pot” related DMs or deposit requests by anyone posing to be part of the Brahma team. Stay alert and report any spam you may across here.
12) I am facing an issue/ I have a suggestion. Where do I navigate?
Brahma is integrating more protocols and variables to make the strategy robust as well as making the UI as smooth as possible while keeping it simple. Feel free to add your feedback/ report your issue here:
333.33 ETH
Let’s begin by outlining the high-level strategy of the vault:
- 1.Single-side deposits are accepted in ETH
- 2.The vault supplies this ETH to the highest yielding Curve pool and LP tokens are staked on Convex
- 3.
- 4.At the end of every week, all accrued yield is harvested and converted to ETH
- 5.The yield is bridged to Optimism and used to take a leveraged bet on crypto prices
- 6.What leveraged bets are used? 1 week ATM options are purchased on Lyra Finance - more details in the coming sections
- 7.Any trading profits at the end of the week are converted back to ETH, bridged back to mainnet and compounded into the strategy
For those familiar with the PMUSDC vault, you will note the similarities. The strategy is centred around preserving the users' hard-earned capital but still looks to provide enhanced returns by taking regular small, but leveraged, bets to generate asymmetric payoffs.
It’s a single-sided deposit vault with ETH/WETH as an asset for V1.
The projected APY of the vault is 7%, based on strategist backtests and simulations (more info here)
The ETH Maxi DegenVault has no fees. We do this to allow users to test out our DegenVaults before they go mainstream. Once DegenVaults pass their audit stage in May, they will be release with higher caps as BRAHMA Vaults, and will then have fees.
Please check the address mentioned on the vault page, under info tab before aping.
Deposits and withdrawals are processed weekly on Friday at 15:00 UTC and automatically accepted/sent to the user's wallet post request within one hour. Requests made past this time frame are processed on Friday of the forthcoming week.
420 and above, fren
There are numerous risks associated with ETHMAXI vault [USD, V1]:
- Depeg of ETH/sETH pool
- Exit liquidity on ETH/sETH pool
- High slippage: There might be a scenario of high slippage associated with the strategy as we rely on multiple bridges, AMMs, and perpetual exchanges. [We optimize the order execution for low slippage, always]
Brahma is integrating more protocols and variables to make the strategy robust as well as making the UI as smooth as possible while keeping it simple. Feel free to add your feedback/ report your issue here:
Nothing to worry about, your position is still secure.
No, it’s not audited hence it has been gated for users with high Karma scores. Please understand this before aping into the vault.
Nope, ape all you want.
Brahma’s first KARMA prize pot is set to go live with the launch of the vault.
A set of the first depositooors of the vault will win the KARMA pot and rewards will be distributed proportionately.
While we cannot disclose the mechanism of distribution at the expense of having the system gamified, being quick to ape-in, having a long-term approach and depositing up and beyond the minimum value may halp.
The KARMA points will be vested over a period of 6 weeks and announcements about the distribution will be made on the official discord and twitter channels by the Brahma Team. The ETH Maxi prize pot is set to be rewarded once the strategy converts to main.
Note: In the meanwhile, do not accept “prize pot” related DMs or deposit requests by anyone posing to be part of the Brahma team. Stay alert and report any spam you may across here.
Last modified 4mo ago