Circuit Trading

DeFi's liquidity layer via institutional trading vaults | TG: | Beta LIVE ⚡ Backed by @MulticoinCap, @EtherealVC, @FoliusVentures

[Circuit Trading @CircuitTrading_]

Two new vaults are opening up on Circuit soon!

New strategies, new assets, more opportunities for yield ⚡️

Join the waitlist on our website to get early access before they officially go live!

Link below ↓

[Circuit Trading @CircuitTrading_]

UPDATE

All users have now been 100% reimbursed. Please check your wallets if you were a depositor in Circuit's JLP Vaults.

Circuit puts users first.

[Circuit Trading @CircuitTrading_]

UPDATE

A technical postmortem regarding the JLP vault drawdown can be found below.

To reiterate, 100% of user losses in the JLP vault as a result of the Solana RPC outage will be reimbursed.

Users first.

https://t.co/QoVK90fkc4

[Circuit Trading @CircuitTrading_]

UPDATE

A technical postmortem regarding the JLP vault drawdown can be found below.

To reiterate, 100% of user losses in the JLP vault as a result of the Solana RPC outage will be reimbursed.

Users first.

https://t.co/QoVK90fkc4

[Circuit Trading @CircuitTrading_]

UPDATE

Circuit will reimburse 100% of user losses in the JLP vault as a result of the Solana RPC outage. Circuit puts users first.

Every user will be made whole to their full position value before Nov 9.

Technical post-mortem & reimbursement process will be shared in 24 hours.

[Circuit Trading @CircuitTrading_]

@DefiSolar ✊

[Circuit Trading @CircuitTrading_]

UPDATE

Circuit will reimburse 100% of user losses in the JLP vault as a result of the Solana RPC outage. Circuit puts users first.

Every user will be made whole to their full position value before Nov 9.

Technical post-mortem & reimbursement process will be shared in 24 hours.

[Circuit Trading @CircuitTrading_]

@0xCenk @cindyleowtt @DriftProtocol Circuit will reimburse 100% of user losses in the JLP vault as a result of the Solana RPC outage. Every user will be made whole.
https://t.co/pXbjbDAj16

[Circuit Trading @CircuitTrading_]

UPDATE

Circuit will reimburse 100% of user losses in the JLP vault as a result of the Solana RPC outage. Circuit puts users first.

Every user will be made whole to their full position value before Nov 9.

Technical post-mortem & reimbursement process will be shared in 24 hours.

[Circuit Trading @CircuitTrading_]

@0xCenk @cindyleowtt @DriftProtocol Hi Cenk - please see our response here re the situation and next steps. A full post-mortem will be available in the next day.

https://t.co/xzAqrvpoiV

[Circuit Trading @CircuitTrading_]

The Circuit team has identified a minor incident affecting Circuit's JLP vault as a result of a Solana RPC interruption today.

The impact is isolated and contained within the Circuit JLP vault. There has been no malicious activity and the underlying exchange is unaffected.

[Circuit Trading @CircuitTrading_]

- A 15% drawdown in the affected JLP vaults run by Circuit only ($60k & $123k drawdown respectively).
- Hedged JLP vaults by Gauntlet and Neutral are NOT affected.
- All other Circuit vaults are functioning normally.

Detailed next steps will be communicated in the next 24 hours.

[Circuit Trading @CircuitTrading_]

The Circuit team has identified a minor incident affecting Circuit's JLP vault as a result of a Solana RPC interruption today.

The impact is isolated and contained within the Circuit JLP vault. There has been no malicious activity and the underlying exchange is unaffected.

[Circuit Trading @CircuitTrading_]

What's better than one JLP vault? Two vaults.

JLP vaults are live now.

Deposit JLP or USDC into a JLP Delta Neutral strategy Vault.

Deposit JLP here👇@JupiterExchange
https://t.co/mXoac1eZYN

[Circuit Trading @CircuitTrading_]

Blinks (Blockchain Links) enable Solana Actions on X.

To experience Blinks, do this:
On @phantom, head to settings and turn on 'Experimental Features'. On @Backpack, enable the toggle in your Solana preferences.

Refresh and see Blinks! ⚡

[Circuit Trading @CircuitTrading_]

Blinks by @saydialect are live on Circuit! ⚡

Deposit directly into Circuit’s vaults. Try the Supercharger vault with 33.08% APY 👇

https://t.co/uGlD3xM4Qz

[Circuit Trading @CircuitTrading_]

@PressieMoonBoy @solana APY is calculated based on historical data since the start

[Circuit Trading @CircuitTrading_]

Don't sleep on Circuit Vaults

⚡Easiest way to participate in market making strategies w/o doing the heavy lifting
⚡One the best performing returns on all of @solana DeFi
⚡$JLP vault & quant trading vault coming soon

[katexbt.hl @katexbt]

@davijlu @DriftProtocol WTF how did i miss circuit trading vaults

depositing

[cindy @cindyleowtt]

Sharing some thoughts from our JLP integration with @JupiterExchange this week:

This is the first time ever that a high-yield LP asset has been enabled as collateral on a perp exchange.

$JLP now listed on @DriftProtocol as collateral is a part of our big vision to be the platform for all tokens on Solana, unlocking utility for everything

Why JLP? JLP’s value grows over time as their perps' trading fees grow. Since the start of the year, JLP has grown ~2x in value, and there's ~$400m of JLP in circulation atm that's largely not earning any additional yield

Using JLP as collateral means users are less likely to get liquidated on Drift vs using pure USDC. This is because your margin is earning yield over time - you get exposure to JLP yields AND whatever perp positions you want to take on. This will give you more of a buffer to save you from liquidations

Think of it this way: you can now quite literally collateralize your positions on Drift with trading fees earned on Jupiter. Solana DeFi composability goes crazy

To date, $5m in JLP has already been deposited on Drift after being live for less than a week

What's next?

- Hedged JLP Vault (!): Drift will be co-launching a hedged JLP Vault in partnership with @CircuitTrading_ in the next few days 👀 This means that you get pure JLP trading fee yield simulating a USD + fee return, while removing your exposure to the JLP basket index and trading counterparty PnL

- Community JLP Vaults: Novel vaults using JLP from community members are already being built which means more ways to utilize your JLP as collateral without needing to do the work for it, just with a single click - reach out if you are interested in building trading vaults with us!

- JLP Deposit Blink: We will be launching a Blinks w/ @saydialect next week that will enable anyone to deposit JLP with one click into Drift/hedged JLP vaults

@sssionggg @0xSoju @weremeow appreciate all the support that's gone into pushing JLP as collateral so far :)

JLP x Drift is gonna be huge

[Circuit Trading @CircuitTrading_]

Register now:

https://t.co/FaSvrDabx1

[Circuit Trading @CircuitTrading_]

Two new vaults are opening up on Circuit soon!

New strategies, new assets, more opportunities for yield ⚡️

Join the waitlist on our website to get early access before they officially go live!

Link below ↓

[Circuit Trading @CircuitTrading_]

A huge step towards bringing Solana to the masses.

Our participation in the launch of Actions & Blinks by @saydialect, will make accessing Circuit vaults seamless for everyone.

Earn all the yield, without the hassle.

[Dialect 📥 (hiring) @saydialect]

Introducing Actions & Blinks

An ambitious new protocol in collaboration with @solana—& developer stack by Dialect—to share Solana everywhere

Starting right here. On Crypto Twitter

Try it out today with @Backpack & @phantom. @solflare_wallet coming soon

1/👇

[Drift Foundation @DriftFDN]

The DRIFT airdrop claim is now live!

Claim your DRIFT here: https://t.co/nVYP4cr3Rz

More information below (🧵)

[Circuit Trading @CircuitTrading_]

Circuit Vault depositors were allocated Drift Trader Points. These points have been factored into the Launch Airdrop.

Check your allocation on @DriftFDN eligibility checker now

[Drift Foundation @DriftFDN]

The $DRIFT Eligibility Checker is now live!

Here’s what you need to know. (🧵)