Withdrawal Mode: Brahma Vaults
Oct 3, 2023
~ 3 mins
Brahma Vaults will be transitioning into "Withdrawal Only" mode and depositors are requested to withdraw their funds. The Vaults will fully close their respective positions on Balancer, Curve and Convex.
The team has focused its efforts this year to develop Console, a complete DeFi execution environment built with Safe as custody rails, enabling granular access control with transaction policies and roles, as well as automated execution and transaction management.
As Console is maturing and reaching its main release soon, we are focusing our efforts to make it a unified product that our past, present and future users can access to manage their DeFi workflows and strategies, self-custodially, from their Safe wallet.
All depositors are requested to proceed to withdraw their funds from the respective vaults. All depositors will be whitelisted to get early access to Console’s main release. Below attached are more stats, specs, and a performance overview of the journey travelled.
After managing over $4 Mio TVL, processing more than $7.2 Mio in user interactions within a span of a year and a half, Brahma's pilot automated cross-chain Vaults will be retired and ceasing operations, transitioning into Console, Brahma’s flagship product.
Brahma has always been focused on improving DeFi interactions for users, with a focus on abstraction of transaction and monitoring complexity by means of automated execution.
Vaults were Brahma’s primary iteration in this direction by abstracting complexity and supporting in the operation and management of complex DeFi strategies. PMUSDC Vault inaugurated an era of principal protected strategies for over 3K+ participants in Brahma Vaults. With 4 Vaults live, Brahma has navigated various market cycles to provide novel, principal-protected on-chain strategies to users.
Navigating various market scenarios and numerous black swan events (the UST collapse, stETH depeg and FTX meltdown to name a few), Brahma’s quants and engineering teams have devised curated risk-monitoring tooling and frameworks to protect depositors and facilitate positive returns throughout. This infrastructure includes monitoring for tokens price and depegs, liquidity pool health, slippage and exit routes, as well as a transaction manager capable to precisely estimate gas and get transactions through in volatile environments. All of this work proved not only to aid Vaults every step of the way in the background, but to serve as part of the foundation for Console, which will allow users to run and automate individual DeFi positions across chains.
The decision to cease vault operations is taken at a time where running liquid strategies in DeFi requires both more hands-on management and flexibility as liquidity and returns become more restricted. Brahma Console has been received very positively by its alpha users, and we want to focus the full team’s attention on building its feature set out for all of its future users.
Console's alpha release has commenced the journey to build a comprehensive execution environment for DeFi power users and teams with abundant automation capabilities and reducing operational complexity, powered by the custodial layer of Safe.
Before we discuss more on what’s incoming, here’s a deep dive into the Vault's journey at large.
Vaults performance overview
Total Vault users — 3448
PMUSDC — 1215
ETH Maxi — 1380
PolyGains — 811
TopGear — 72
ATH TVL, USD
PMUSDC — $1,704,817.58
ETH Maxi — $1,032,662.06
PolyGains — $1,1184,319.20
TopGear — $594,084.11
Share Price Growth per Vault
Brahma Console; A New Era For DeFi Execution
DeFi is expanding and evolving. While fundamentals remain the same, the need for ancillary tools and avenues to smoothen out workflows and manage large sums of capital comes with an inherent need for security and automation.
Moving beyond the narrow yield-generation strategy of Vaults, Brahma Console tackles a more expansive use case. It's engineered to provide the ultimate control over your capital while ensuring maximal flexibility to interact, automate, and unify your DeFi actions.
Built for DeFi's power users, funds, DAOs, and overall teams, Console delivers the ultimate custody and execution environment for a range of actions, automation, and transaction capabilities. Brahma Console is built on top of Safe, leveraging the most trusted wallet infrastructure on Ethereum securing over $40 billion worth of assets.
Want to read more about Console? Head to https://console.brahma.fi/