Monthly Report 01/2024


  • New USDC+ rebase token and Spot+Perp strategy launched.
  • Hit the $2.5M revenue milestone.
  • Discussed plans in OVN Community Call.
  • Yield-Farmer’s Digest highlights new pools, significant bribery, and current APR.
  • Future plans include expanding Spot+Perp on Arbitrum and exploring other chains.

1) Overnight’s products performance


$19.6 mln

The TVL has increased by over 15% in the last month, thanks to the significant farming opportunities offered by the protocol.

Most of the liquidity is on Base, surpassing $10 million, and our top gainer, Arbitrum, now stands at $4.5 million, with the Total Value Locked increasing by over 125%.


Monthly APY

Linea – 13.2%

zkSync – 13.8%

Optimism – 9.1%

BSC – 5.7%

Base – 12.3%

Arbitrum – 13.7%

The four top-performing chains currently are Linea, zkSync, Base, and Arbitrum, offering over 12% APY.
On certain days, the daily Arbitrum APY has exceeded 40%, a result of our new strategy combining Spot and Perp.



TVL – 3535 OVN ($79 700)

Cumulative return – 26.7%



 TVL – 735 OVN ($16 000)

Cumulative return – 3.7%

After launching insurance on Arb, it quickly demonstrated impressive results for its holders, with a return of over 3.7% in less than three weeks. 15% rebase from Spot+Spot strategies is flowing in payouts for Insurance providers which on some days could experience 5-digit returns.


But be always aware that negative rebase can happen on some days. Always do your due diligence.


2) OVN

Current price: $21.3

This month, we witnessed significant purchases of OVN, leading to a 25% increase in its price. This was made possible by a flywheel that drives price appreciation and creates substantial buying pressure.



New Rebase Token

We’re thrilled to introduce a new USDC+ rebase token that converts to native USDC on the Base. We will steadily shift our focus from DAI+ to USDC+.

The reason for this change lies in the low liquidity on DAI+, and moving to USDC+ will create new opportunities for new liquidity.

New Strategy

Our development team has worked tirelessly, and we’re excited to unveil a new strategy called Spot+Perp using the cross-margin DEX Vertex.

The initial results of this strategy demonstrate great potential, consistently providing over 20% APY. This success instills strong confidence in our ability to be a key factor in growing TVL.

To grasp how it functions, delve into this thread.

$2.5 Million Revenue

Reaching this milestone is crucial for us, and we believe it’s significant for everyone.
Let’s continue on the path to greater success together!


4)Marketing and collaborations

OVN Community Call

We held the first community call where our founder Max delved into the current focus for the team and plans for 2024.

Check it out


5)The Yield-Farmer’s Digest

a)New Pools 

Horiza Dex

USD+/USDC and USD+/USDT+ pools on Arbitrum



USD+/USDC and USD+/USDT+ pools on Arbitrum


b) Bribes

We engaged in bribery on Pancakeswap pools through CakePie and StakeDAO this month.

The first instance involved a bribe of over $18k on CakePie, resulting in a 3.3x bribe efficiency and a $66.3k emission.

The second time, we bribed over $55k via StakeDAO and CakePie.

On other Dexs we have more than an astonishing $230 000 in bribes.

c) APR



Check the current APR here


6)Future Plans

The team is currently expanding on the Spot+ Perp strategy on the Arbitrum chain and adding more similar strategies.

As the team believes that the near future lies in Spot+ Perp strategies, we plan to expand to other chains like zkSync, BNB, Optimism, etc.


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