DeFi's liquidity layer via institutional trading vaults | TG: t.me/circuitcommunity | Beta LIVE ⚡ Backed by @MulticoinCap, @EtherealVC, @FoliusVentures
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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 ↓
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1/ Circuit is excited to announce its native integration with @HelixApp_ and the orderbook module on @Injective_ to unlock liquidity across dApps built on Injective ⚡️🤝
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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.
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1/ We've partnered with @multicoin, @etherealvc, @FoliusVentures and alongside the @DriftProtocol core team to build the liquidity layer for all of DeFi ⚡️
We're grateful for our community and partners for bringing Circuit to life!
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Deposit & Earn Drift Points with One Click ⚡️
With our @DriftProtocol integration, depositors will be rewarded with Drift Points which will be distributed by Circuit.
Don’t miss out, the Turbocharger Vault is almost at full capacity!
▮▮▮▮▮▮▮▮▮▮▮▮▮▯
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🌊🚨
We are thrilled to announce the private beta launch of Circuit, the liquidity layer of DeFi.
Circuit is a decentralised market making protocol.
With Circuit Vaults, you can provide liquidity to top market makers to earn yields from institutional-grade strategies.
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Circuit Vaults just hit $12M+ TVL
$1.4M in profits generated to date
Are you still fading, anon?
👏🏼
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$100M milestone achieved 🚀
10x since the start of the year
Circuit's just getting started
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Circuit is excited to announce its native integration with @DriftProtocol, where users will now be able to interact with Circuit Vaults on Drift's UI directly!
Through this partnership, we've opened Vaults up to everyone and removed minimum deposits.
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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
app.circuit.trade/vault/delt…
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Surprise surprise!
Supercharger and Turbocharger caps have been increased to $11M each 📈
There is ~15% capacity left before they're filled up again, hurry up 👇
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Blinks by @saydialect are live on Circuit! ⚡
Deposit directly into Circuit’s vaults. Try the Supercharger vault with 33.08% APY 👇
app.circuit.trade/vault/supe…
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Circuit Vaults trade only on SOL / BTC / ETH markets. These markets are isolated and are unaffected by the unusual behaviour on the RLB market.
Your funds are safe.
The team is closely monitoring unusual behavior on the RLB market.
This behavior is isolated to RLB market; AMM trades for this market have been paused.
Drift DLP stakers will not be affected.
Your funds are safe. All other markets are unaffected as they are isolated.
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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.
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.
circuittrading.notion.site/N…
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Volatility in the past week shook the markets, but Circuit's Vault strategies minimized risk exposure and achieved outstanding returns for depositors.
Let’s dive into how each Vault performed 🧵
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It's almost time ⌛
Get your [redacted] ready and prepare for even more yields and rewards coming!
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You voted and Circuit is delivering! There's a new vault on the horizon.
Can you guess what's it is? 👀
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Circuit is excited to announce its first market making vault partnership with @DriftProtocol ⚡️ 👾
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Wen caps raise? Now ⚡
Supercharger and Turbocharger capacities have been increased to $15M while the JitoSOL Basis Vault caps were lifted to 40K JitoSOL.
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Circuit Q1 Recap ✍️
TLDR:
🚀 7.5x TVL from $10M to $75M
💸 7.5x Total Vault Profit from $800k to $6M
📈 ~$500m in monthly trading volume
🔒 Launched JitoSOL vault, which is our largest vault with $36M in TVL
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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.
circuittrading.notion.site/N…
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.
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Circuit's Supercharger Vault just hit $100k in all time P&L!
Vault is now AT CAPACITY of $5M - we'll be increasing the vault capacity very soon 🥳
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Circuit has just reached $15m in TVL, a new ATH ⚡️
Vaults are nearly at full capacity, don't miss out!
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Circuit Vaults just achieved $30M in TVL ⚡️
To celebrate our JitoSOL Vault capacity has been increased to 50K - deposit before it fills up again!
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1/ Introducing Circuit's Supercharger Vault — our first market making vault in partnership with @DriftProtocol 🌊👾
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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.
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1/ Circuit Vaults are non-custodial vaults that allow anybody to participate in algorithmic on-chain market making strategies designed by the Circuit team.
Our vaults are natively integrated into each DEX, primarily focusing on Perp DEXes.
A thread on our architecture 🧵
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The Turbocharger Vault has reached 100% capacity, bringing TVL to $18m+!
Should we raise caps or release another vault? 👀
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Less than a day later, we hit 100% capacity on Supercharger Vaults
100%+ APR
Should we raise the caps? 👀
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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.
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Excited to announce that all of Circuit's whitelisted users now have access to our institutional-grade strategy on the Supercharger Vault! 🌊🌊🌊
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Our vaults JUST hit 2.5m in TVL since Supercharger's private beta launch 3 weeks ago 🚀
Wen public launch? 👀
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1/ Over the past 30 days, Circuit's Supercharger Vault performance has increased by 0.8%, despite the broader market's sharp sell-off last week.
Here is a brief 30-day performance update of our Supercharger Vault running on @DriftProtocol 🌊🧵
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Our Turbocharger Vaults will be trading $JUP on Day 1 ⚡️
This means that Turbocharger depositors will be earning 2x Drift Points during this boost period!
Did someone say Weekly Points drop?
In just 4 days, the first week of Drift Points rewarding your trading volume will drop
To sweeten the deal, trading JUP perp or spot will earn you 2x the Points from Jan 31 - Feb 8 🚀
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Circuit Vaults just hit $40M+ TVL ⚡
$3M in profits generated to date.
Are you still on the sidelines?
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If building core liquidity infrastructure for the future of trading is something you’d like to be a part of, drop us a DM and say hello! 👋
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JitoSOL Vault is already at full capacity at 20K 👀
The new vault launched and filled up in under an hour. Thank you for the trust degens!
Wen cap raise?
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Excited for SquadsX’s beta launch
Institutions can now deposit with a multisig via Squads 🎉
14/ As SquadsX represents a novel approach to interacting with Solana programs, we have collaborated with leading projects to ensure compatibility upon release.
SquadsX is still in beta, bugs or compatibility issues may occur.
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3/ Our team comes from backgrounds across Morgan Stanley, Credit Suisse, and Flow Traders. We are on the lookout for founding members to join our rapidly growing engineering and trading teams. More info below👇
medium.com/@circuittrading_/…
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2/ Circuit is a decentralised market-making protocol that grants access to institutional-grade strategies through our permissionless vaults.
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5/ Read more about our strategic collaboration with Helix and Injective on our Medium post: medium.com/@circuittrading_/…
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The highly anticipated Circuit Supercharger Vault is almost here 🌊
Whitelisted users will have exclusive access to the Vault starting next week!
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TL;DR
- Circuit Vaults experienced almost 0% drawdown
- TVL has grown by ~$3M (a new ATH)
- Total P&L is over $1.5M
Deposit and start market making today with just one click app.circuit.trade/
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The Supercharger vault is the first fully on-chain market-making vault built on Drift Protocol, Solana’s leading perp DEX. Integrations with DEX on other chains are already in the works with these partnerships to be announced shortly!
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3/ Circuit has integrated directly with Injective's revolutionary on-chain orderbook. It promotes healthy taker flow and fair pricing for leading DeFi spot, derivatives, and alternative asset protocols.
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Update:
Just two weeks later, Supercharger LPs have earned ~$330k in pure delta neutral performance 👀
APRs hitting 56%+
DM us for entry into the vault
Circuit's Supercharger Vault just hit $100k in all time P&L!
Vault is now AT CAPACITY of $5M - we'll be increasing the vault capacity very soon 🥳
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2/ Injective is the only blockchain built specifically for financial applications.
One of its core focuses is trading infrastructure, as it introduced the first fully on-chain orderbook module that creates a shared liquidity environment for any DEX such as Helix built on top.
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We are thrilled to announce that Circuit's first group of users now has access to our institutional-grade strategy on Supercharger Vault at app.circuit.trade ! 🌊🌊🌊
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Come say hi to us at Token 2049 in Singapore 👋 🎤
Circuit will be speaking on the DeFi DEX panel at TOKEN2049.
We are also hosting a private brunch with @Driftprotocol at The English House, By Marco Pierre White on Tuesday, Sep 12th!
Come enjoying dim sum and wine with us 🥟
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Despite SOL, BTC and ETH being down 9-15%, the Turbocharger Vault had an a daily drawdown of 0%.
In the last 7 days, Turbocharger has reached +$50K in profits and a 130% APY 🔥
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Don't sleep on Circuit Vaults
⚡Easiest way to participate in market making strategies w/o doing the heavy lifting
⚡One the best performing returns on all of @solana DeFi
⚡$JLP vault & quant trading vault coming soon
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Supercharger’s performance last week:
📈 ~$20,000 in 1 week
📊 APY ~ 50%
What will this week bring? 🔥
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4/ Moving forward, Circuit will also enable access to its proprietary strategies through permissionless vaults.
This will allow users to easily supply liquidity to orderbook pairs and earn institutional-grade yields.
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The Supercharger Vault had a max daily drawdown of <1% while SOL was down ~20% in the past 7 days.
APY stayed above 105% and the strategy yielded roughly $100K in profits for the past week adding to a total of $1.3M ⚡
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We have received a lot of questions since our beta launch last week!
Here are the answers to the most frequently asked questions 👇
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Circuit is closing out the quarter as a top 15 protocol by TVL and the #1 Market Making Yield protocol on Solana ⚡
There are a ton of new launches in the pipeline, and we're just getting started 👀
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📥 📈
Circuit Vaults are now in private beta.
Deposit to actively contribute orderbook liquidity, with the potential to earn tokens for the underlying DEXs we provide liquidity for. 👀
DM us for whitelist to access our vaults in private beta.
circuit.trade
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1/ How the Supercharger Vault consistently outperforms in this market:
The secret is a delta-neutral strategy.
Circuit strategically hedges maker positions by buying or shorting equivalent spot assets, providing a shield against price fluctuations.🛡️
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3/ Circuit maintains a delta-neutral strategy by algorithmically hedging any directional exposure in the crypto markets.
This allows us to maintain a profitable market-making strategy in all types of market conditions.
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🚨 Capacity Increase Alert
Supercharger's cap has been raised to $20M! Participate in Market Making in just one click and earn yield on your stablecoins ⚡️
What are you still waiting for, get started 👇
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Circuit depositors know where the alpha is
Within just 2 weeks in private beta, our TVL is already at 1.5m.
APR +100% despite market volatility 🔥
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This integration further deepens the liquidity on Drift orderbooks, allowing for one-click market making.
You can learn more here
drift.trade/updates/introduc…
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Vault Cap raises are LIVE ⚡️
Supercharger was raised by $10M and JitoSOL was raised by 100k.
Vaults have been known to fill up quickly 👀
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Leading up to our Supercharger Vault opening next week, our whitelisted users have asked us a lot of questions.
Here is a quick FAQ addressing the most commonly asked questions! 🧵
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The time to scale DeFi liquidity is now.
We've been working in stealth to battle test our strategies for the past 6 months, and we're excited to unveil Circuit Vaults.
Over the next weeks, we'll be announcing our partnerships with the top funds & DeFi protocols in the space!
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4/ Want to be the first user to access institutional grade returns? Simply fill out this form to join Circuit Beta testing vault: 6vgn0rlomqp.typeform.com/to/…
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Why is DEX liquidity still so poor?
- DEX MM strategies require huge technical/infrastructural resources, so large market makers still focus on quoting on CEXs.
- Unlike for spot AMMs, users have no way of providing passive liquidity to high-yield HFT/MM strategies.
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- 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.
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Circuit Vaults are non-custodial, on-chain delta neutral market making vaults.
Users can deposit into these strategies to get exposure to MM strategies w/o directional risk.
The vaults provide transparency, allowing users to track their orders & balances.
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Circuit is led by proven, venture-backed builders and traders in crypto with deep roots and experience in TradFi, hailing from firms like Morgan Stanley, Credit Suisse & Flow Traders.
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2/ Last week a significant market sell-off caused BTC to fall by -7.1%, ETH by -6.69% and SOL by -4.83% in just 20 minutes.
In contrast, Circuit demonstrated steady flat performance at 7 bps during last Thursday’s sell off, unaffected by the market volatility.
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Why Circuit is a gamechanger for DeFi:
DeFi has been around for 5+ years, but DEXs are still <5% of CEX volume.
DEXs have thin levels of liquidity and wide spreads compared to CEXs, with 1000x worse liquidity.
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In contrast, many open-source MM vaults use off-the-shelf trading strategies executed from smart contracts and not hedge their positions.
This potentially leads to front-running and large drawdowns in volatile market.
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🚀 Circuit is here to transform the DeFi market making landscape.
Circuit's vision is deep liquidity in DeFi, giving traders the depth and size they can expect from a CEX.
Circuit specializes in providing liquidity to DeFi-based orderbook exchanges as a designated Market Maker.
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JitoSOL caps have just been lifted to 100K ⚡️
Last time caps filled up fast, get in while you can 👇
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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.
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.
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We have received many great questions about Circuit Vaults since our soft launch last week.
Here are the top two: 👇🏽
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Join our telegram to stay up to date on upcoming launches and announcements
t.me/circuitcommunity
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Hi Cenk - please see our response here re the situation and next steps. A full post-mortem will be available in the next day.
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.
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7/ What are the risks?
The risks are similar to other market making strategies — the risk of holding inventory.
The Vault's strategy aims to be delta-neutral by hedging via spot. However, during high volatility, hedging may be slower, leaving the user with small delta positions
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