Harvesting 95.15% APY on GLP with Olive

Harvesting Hefty Yields with Olive.Finance ๐Ÿซ’ and $GLP ๐Ÿซ

By TheWiseBull | TheWiseBull Blog | 20 Feb 2023

If you are like me, you are always searching for the best DeFi protocols, tools, and yields. Today, I found Olive ๐Ÿซ’, formerly Polysynth. Olive is a protocol that operates across multiple blockchains and merges composability with structured financial products to enhance returns while mitigating the risk of users' funds being exposed to principal or credit risks.

Based on my research,ย Olive's vaults can generate significant returns to my current strategies. Therefore, I chose to join the Olive community today, deploying some capital in their "Principal protected $GLP vault" on Arbitrum(๐Ÿ’™,๐Ÿงก), which is presently earning a hefty 95.15% APY.

The Principal Protected $GLP vault is a new product offered by Olive that offers a yield-farming strategy that allows users to earn additional tokens by staking their existing ๐Ÿซ $GLP.ย  ย 

Olive's $GLP Vault is yielding 95.15% ย ย provides the following vault highlights: ย 

  • Olive amplifies the ongoing ๐Ÿฎ Beefy GLP base APR of 48.62% to 95.15% APY.

  • Olive achieves this by reinvesting base yields in structured products.

  • Earn the highest yields on $GLP with no credit or principal risk.

  • You can invest or withdraw anytime. There is no lock-in period.

  • Enjoy incremental capital protection and auto-compounded returns.

Please note: this GLP vault is designed to amplify the yield potential of your GLP tokens; however, it's important to note that investing in the GLP vault involves risks, and users should carefully consider the potential risks and rewards before participating.

This vault is just one of many features offered by the Olive protocol across multiple blockchains, including ฮžthereum and Polygon โ™พ๏ธ, and so far, I'm happy with my choice to invest. I recommend checking them out, and I look forward to exploring their offerings across all chains available soon.

A Brief Overview of &ย $GLP

GMX is a decentralized trading platform built on top of Arbitrum, a Layer 2 scaling solution for Ethereum. "GLP" stands for "Gelato Network Liquidity Pool," a token used within the Gelato Network, a decentralized network of bots that can automatically execute smart contract transactions.

On GMX, $GLP tokens are used to provide liquidity to the platform and are available on Arbitrum and Avalanche. Users who provide liquidity in $GLP tokens earn a 70% share of the fees generated by user platform activity, which has proven quite lucrative for many...including me.

$GLP Yields as of 2/20/23

Until next time, my friends...

As with any DeFi protocol, users should always exercise caution and conduct their own research before investing.

Referral Link ๐Ÿ”—

โœ… Enjoy a dynamic 15% discount on management fees ๐Ÿ“ฉ

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TheWiseBull Blog
TheWiseBull Blog

Wisdom from an old bull...purely for your enjoyment. | Not offering #investment research, #financial advice, or #stocktips | Do DD when #trading #stocks & #investing in #bitcoin #ETH or other #crypto for #wealth

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