From 00a56fa7ff82509f7a9e0cd9ce854a52eff2edbd Mon Sep 17 00:00:00 2001
From: "dr. mia von steinkirch, phd"
 <1130416+mvonsteinkirch@users.noreply.github.com>
Date: Wed, 8 Feb 2023 13:29:30 -0800
Subject: [PATCH] Create glp_vaults.md

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+## glp vaults
+
+<br>
+
+### tl; dr
+
+<br>
+
+* vaults are suites of trustless defi strategies to generate delta-minimized returns on $GLP assets (gmx's lp token, which receives 70% of gmx's fee revenue). 
+* vaults can provide liquidity on gmx to collect yield from $GLP. they are also the counterparty to margin traders (benefiting from trader losses). 
+* vault should be backtested against months of real-world market data (including edge cases), usually with a baseline such as a standalone usdc vault
+* hedges are algorithmically rebalanced at regular intervals. hedging on gmx incurs fees for minting and burning of $GLP, opening and closing positions, and funding for open interest.
+
+<br>
+
+### resources
+
+<br>