Mechanism
GammaSwap borrows LP positions to monetize realized movement and implied/realized volatility gaps.
Acerite
Protocol Brief
Arbitrum•Fallback demo data•Last updated Apr 4, 12:33 AM
Back to engine mapGammaSwap
Yield comes from movement itself. When volatility compresses, the engine goes quiet.
This page is designed for quick scanning: what the protocol does, when it works, what breaks it, and which risks deserve attention.
Indicative APY
9.2%
Indicative only. Useful for framing, not prediction.
TVL
$14.0M
Size helps show where capital is currently concentrated.
Symbol
ETH-USDC
The token or pool label surfaced by the data source.
Data Status
Fallback
Fallback keeps the demo usable if the upstream API pauses.
Plain-English Summary
Yield comes from movement itself. When volatility compresses, the engine goes quiet.
When It Works
High or oscillating volatility with active borrower demand.
What Breaks It
Volatility compression and sustained calm markets.
Failure Modes
Vol compression
A condition that can make the protocol behave worse or fail.
Pricing model failure
A condition that can make the protocol behave worse or fail.
Low liquidity
A condition that can make the protocol behave worse or fail.
Structure
Primary engine: Volatility
Hybrid engines: None
Arbitrum native: No
Source Notes
Metrics are surfaced from DefiLlama where available and wrapped in the protocol framing defined in Acerite. The point is to understand behavior, not to rank products.