Roger Lu Profile picture
3 May, 19 tweets, 16 min read
Weekly AVAX Defi Ecosystem Commentary & Yield Farming Roundup (Mon May 3) on @avalancheavax Farming Yields for $PNG, $PEFI, $ZERO, $LYD, $OLIVE, $ELK, $YTS, $BAMBOO, $COM, & new $BAG + auto-compounders $YAK & $SNOB
1) Macro Commentary
I’ve been obsessed with the state of AVAX defi ecosystem since I widened my focus & started comparing vs other chains, & seeing that we’re losing in the race to build TVL

Here’s an updated table, adding also $MATIC & $LUNA as requested

& a cheat sheet of protocols:

This has caused me to start experimenting with other chains, notably #BSC & $SOL
So let's compare @avalancheavax & @solana. My $AVAX experience is what @ronnychieng would describe as “ZERO LAG” or “PRIME BEFORE”. (Warning: this is extremely funny & may cause you to snort)

On the other hand, this was my experience on $SOL. Lots of lag & prime waayyyyy after...

Which has made me think, how has SOL 7x’ed since the start-of-year with $AVAX flat with objectively a much much worse product & CX?
@solana's success probably has something to do with taking a united front aggressively supporting native projects. For example, $RAY supported the launch of a competing DEX $STEP as it reached ~$200m TVL (for just 1 pool or ~all TVL @pangolin)

Here’s my high-level suggestions to @avalabs, which looks like @el33th4xor seems to agree with:

Recently, I’ve taken a much more activist position within the #AVAX defi ecosystem, including being a strategic advisor to @YieldYak, @Avalaunch & @gondolafinance. I’m excited to announce that starting this week I’m joining @AvaLabs as defi consultant
helping specifically w/ strategy, bus dev, partnerships, research, & more generally as a bridge to the strong & vibrant AVAX community. So basically what I do already & will continue to be independent & unbiased in my feedback & opinion
2) @avalancheavax #DeFi Landscape
Anyhoo, what a week for $AVAX. The #DeFi gods must have been listening to my prayers, because AVAX #defi is RIPPING (finally)

$AVAX TVL is +67% to $330m TVL over the past week and my working theory is that its due to many reasons:
a) $SPORE (ala $MOONSAFE) #BSC $ -> AVAX $

b) $BAG airdrop to X-Chain stakers who may not have already otherwise been active in AVAX #DeFi
c) @el33th4xor interview highlighting new projects & alluding to a potential @coinbase partnership/DEX integration
d) a more aggressive & proactive @avalabsofficial behind the scenes in response to feedback?

Meanwhile, many projects had notable weeks:
-$PEFI up +250% & taking 2nd place TVL to >$20m
-$YAK growing TVL +140% on back of $YAK airdrop
-$SNOB up +200% on official pairing on $PNG
-$GDL launching yield farming TODAY 14:00 UTC
-$BAG airdrop & launch & TVL >$3.5m TVL

- A lot of news coming out of @OfficialZeroDEX as usual, including their 1st official IDO, $WAS

Great work @GramCustodian & $ZERO – I found this community update particularly helpful
- Frankly its nearly impossible to track everything which is why @WeekInAvalanche is such a great service. Thank you @Best_coder_NA !

3) Portfolio Strategy
Lastly, I made a few allocation changes, notably:
-$PEFI: increased my TVL substantially, incl. $AVAX-$ETH LP (>300% base APY, >10k% on @yieldyak_ compounded)
-Invested in $BAG farms, but left due to busy weekend & relatively low emissions/rewards
-Moving into $GDL farms starting today 14:00 UTC
-Still have a big macro play on DEXes with O/W on $SUSHI which IMO Is undervalued & which is earning v high $APYs in $AVAX farms
-Continue to have large $ZERO bag due to big project bet & launchpad participation

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More from @rogerclu

2 May
How can @avalancheavax improve its #DeFi ecosystem? This is the question which has been keeping me up at night... Here are my high-level suggestions:

1) Aggressively support NATIVE projects with grants & internal @avalabsofficial resources
2) Have a united front with your #defi "foundation" partners
@AvalaunchApp launchpad to bring in new projects
@yieldyak_ defi expertise & integration
@pangolindex DEX/liquidity

3) Focus on building TVL as your primary KPI, invest your war chest NOW. Be competitive & try to win vs other inferior chains. Yes, $AVAX is the best tech & CX (once on-ramped), but users will go elsewhere if that's where the growth, APY, growth & quality projects are

Read 4 tweets
27 Mar
Finally @Pandaswapex is LIVE! Been waiting for this one all week. Farming/rewards of $BAMBOO will start at block 800,000 (~1-2 days). Come back for full review of APYs when launched!
@Pandaswapex yield farming is LIVE (as of ~9:45 UTC)!!!
Will try to post live updates on my strategy - GET IT HERE 1ST
But trying to press buttons as fast as possible to make free monies
#AVAXyieldfarming, *EXTREME* #ALPHAleak

Here's my @Pandaswapex playbook (which can be repeated for future new farms):

1) They told us farming rewards started block 800,000 -> go to… to see what block we are at

Read 14 tweets
25 Mar
Daily Update (Thu Mar 24) on @avalancheavax Farming Yields for @pangolindex, @OfficialZeroDEX, @complusnetwork, @YetiSwap, @elk_finance + @yieldyak_ auto-compounder

Hi All - since the last update a couple of days, I feel like I've aged 5 yrs...

1/12 ImageImage
1) Price Action: yesterday, we had some uplift with @Tesla's news that they would accept #bitcoin, but that was short-lived with crypto taking a dive & BTC struggling to stay above $50k & #Ethereum hovering ~$1.6k. $AVAX is -17% to $25.50. UGH!!!

2/12 Image
2) Yield Farming. In times of macro weakness, the investor tendency is towards risk aversion, and yield farming is viewed as risk-on. So I've been monitoring the farms closely, and it's good to see that, in spite of price weakness, there has been stability at the lows

3/12 Image
Read 12 tweets
25 Jan
I've been trying to understand for some time the impact of $GBTC (Grayscale Bitcoin Trust) on the price of $BTC. Here's a good article to start, and here's a thread on my current thoughts... 1/9…
There's no doubt that $GBTC has been a driving force in allowing investors to gain exposure to $BTC. For many investors, it provides the easiest way to get crypto exposure. As a result, $GBTC often trades at a large premium (20%-30%) over spot $BTC 2/9
Recently in January, $BTC prices have declined from a high of >$40k to <$30k (now back near $35k). $GBTC's premium to NAV has also dropped to <5% 3/9
Read 9 tweets

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