Does Lemma have a token?

Besides USDL, the Lemma stablecoin, and xUSDL (staked USDL) - Lemma does NOT currently have a token.

What should I know before depositing?

  • Basis trading is a market neutral strategy, meaning that if you deposit ETH, you will lose exposure to ETH price action.
  • When depositing USDC, USDT or Dai, Lemma sells those stablecoins for ETH using 1inch, meaning the initial deposit fee will be higher than depositing ETH.
  • Lemma is not available to residents of Belarus, the Central African Republic, the Democratic Republic of Congo, the Democratic People’s Republic of Korea, the Crimea region of Ukraine, Cuba, Iran, Libya, Somalia, Sudan, South Sudan, Syria, the USA, Yemen, and Zimbabwe.

What are some of the risks involved?

Lemma's basis trading is a market neutral strategy and is non custodial. However, as with every DeFi application, Lemma comes with a set of risks that you should understand before depositing any asset. These are a few you may encounter:
  • Users will incur gas, exchange and slippage fees when first depositing assets, which means that their displayed earnings will initially be negative.
  • Lemma uses a strategy called basis trading to generate yield on your assets, and that strategy relies on funding rates being positive, which, historically, has been the case most of the time. However, in bear markets, these can sometimes turn negative. This means, over shorter stretches of time, you may see a negative APY. Furthermore, please remember that past performance may not be indicative of future results.
  • The derivative dexes Lemma is integrated with could be exploited or force a settlement of perpetuals.
  • Lemma is audited but the risk of an exploit happening is never 0%.
As always, please do your own research and decide for yourself. To learn more about the risks involved read our risk and smart contracts sections.

What are the fees?

When first depositing assets you will see your initial earnings be slightly negative. This is due to the gas fees associated with moving your crypto over to a decentralized derivatives exchange, the exchange fees, and the slippage incurred when first entering into a short position. Lemma does NOT take any deposit fees.
Lemma does NOT charge any "management" fees either. The protocol only allocates a portion (30%) of the basis trading vault's profits to its insurance fund & treasury. To learn more about why this is necessary please read our risk section.

Does Lemma have investors?

Yes! We're lucky to have been able to raise from:
  • Dragonfly and Standard Crypto with participation from Nascent, Multicoin, Coinbase Ventures, Robot Ventures (Tarun Chitra & Robert Leshner), Folius, Wintermute, Kronos, GSR, MCDEX and Perpetual Protocol
  • Our angels include Stani Kulechov, Craig Lemens, Matteo Leibowitz, Max Bronstein, Jonathan Wu, Eric Chen, Greg Tusar, Ivangbi, Vijay Chetty, Yenwen Feng, Nick Tong, Francesco Agosti, Nick Pappageorge, Nick Chong, Mika Honkasalo, Julian Koh, Sam Bobley and Vikas Dua
  • Additionally, we were incubated by EI Ventures

Where can I ask further questions about Lemma?

If you have any questions about hiring, support etc. please send a Discord admin a message or reach us at [email protected] and we'll be in touch very soon.