Gamma Strategies
Automated liquidity manager
Public concentrated-liquidity vaults, mostly for retail depositors; no DAO mandate is on the record, and its vaults hold a fraction of what they did.
About Gamma Strategies
Gamma describes itself as a protocol for active liquidity management and trading on decentralised exchanges. Its LP vaults rebalance concentrated positions on Uniswap and Algebra-based DEXs, with logic run off-chain and executed on-chain, for 14–20% of earned fees; private vaults are available to clients.
gamma.xyz ↗Our verdict
No DAO mandate is on the record, its vault value has fallen 94% since January 2025, and Gamma estimated 25–40% recoveries after its 2024 exploit.
How each block was graded
Mandate
DAOs have named Gamma — Unlock Protocol funded incentives for a Gamma-managed pool — but for incentives and grants, not mandates over their own assets. Gamma’s pitch to Radiant for protocol-owned liquidity was archived without a vote.
| What we found | Source | Checked |
|---|---|---|
| Unlock Protocol DAO funds LP incentives for a Gamma-managed pool (10 Feb 2025) | unlock-protocol.com | 2026-09-21 |
| Gamma’s protocol-owned liquidity pitch to Radiant Capital, archived with no vote (13 Jan 2023) | community.radiant.capital | 2026-09-21 |
Money
Value in Gamma vaults is tracked publicly at about $3.3M on 21 Sep 2026, down from $58.8M at the start of 2025. Vaults are non-custodial and depositors can withdraw at any time, but the rebalancer’s permissions are not described in detail.
| What we found | Source | Checked |
|---|---|---|
| Total value locked in Gamma vaults: $3.3M (read 21 Sep 2026) | defillama.com | 2026-09-21 |
| “Gamma does not control a user’s funds”; depositors can withdraw at any time | docs.gamma.xyz | 2026-09-21 |
Transparency
Gamma lists its public vaults with value and returns in a public app, but it renders in the browser and we could not verify the figures it shows; rebalances are visible on-chain, and there are no reports.
| What we found | Source | Checked |
|---|---|---|
| Public vault list with columns for TVL, volume, fees and APR | app.gamma.xyz | 2026-09-21 |
| Rebalance and compounding events visible on block explorers | docs.gamma.xyz | 2026-09-21 |
Strengths & weaknesses
What works
- ✓Non-custodial vaults with open withdrawals
- ✓Public vault listing, with rebalances visible on-chain
Where it loses grades
- ✕No DAO mandate over treasury assets on the record
- ✕An exploit in January 2024 took an estimated $3.4M–$6.2M; Gamma estimated 25–40% recoveries
- ✕Vault value has fallen about 94% since January 2025
Incidents
- 2024-01-04 — Arbitrum vaults exploited through deposit accounting and a price-change threshold set too high; losses put at $3.4M–$6.2M. Gamma estimated 25–40% recoveries for various categories of users. [users made whole: partial] [source]
A project that wants public automated vaults for its token pairs, with depositors free to leave.
A DAO looking for a manager for its own treasury under a mandate.
The rest of the dao treasury & liquidity managers ranking
Same three blocks, same rules, same review run — this is what Gamma Strategies is being compared against.
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