twpony / gmx-stake-arbitrum-stra

Stake GMX on Arbitrum strategy.

GMX-Stake-Arbitrum-Strategy

1. Introduction

This strategy's want token is GMX. It will stake GMX on this platform. GMX is the decentralized exchange platform running on Arbitrum.

The rewards from GMX are ESGMX and WETH. Because ESGMX cannot be transferred （here is the explanation: Rewards - GMX (gitbook.io)）, so after achieving the rewards, this strategy will vest ESGMX in Vester to exchange ESGMX to GMX. There is the third reward BNGMX. After claiming, this reward can be exchanged to WETH.

WETH will be swapped to GMX by ETH/GMX Uniswap V3 Pool on Arbitrum.

This strategy is developed on badger-vaults-mix-v1.5 template.

2. APY

I test my strategy on Arbitrum-mainnet-forked by brownie. The realized APY is 5.41%. The APY (including ESGMX) is about 21.4%. So the profit looks fine. If you wanna realize all profit, you should stake GMX for one year.

The profit test code refter to test/test_custom.py.

3. Strategy Diagram

Usage

1. Install all dependencies according to Readme on badger-vaults-mix-v1.5.
2. Enter the python virtual environment: source ven/bin/activate
3. brownie compile
4. brownie test --interactive

Tips

Open two terminal in VScode, otherwise may have RPC connection error

One terminal runs ganache-cli --accounts 10 --fork https://arb1.arbitrum.io/rpc --mnemonic brownie --port 8545 --chainId 42161 --hardfork istanbul

The other terminal runs brownie test --interactive