1. Bought 10ETH of $CVX, converted to bentCVX > single side stake it for 200%+ APY. We'll also be claiming and staking those $BENT rewards periodically.
2. Deposited 5 ETH as collateral on abracadabra.money, borrowed $MIM against it at 0% interest. Deposited $MIM into the MIM+3Crv pool on curve.fi and then staked mimCRV to earn Bent on top of Convex's native rewards at over 30% APY.
3. Added to our USDC supply vault on tarot.to, earning 17.8% APY + farming $TAROT, with a view to moving some of it to the leveraged USDC/fUSDT LP once the APR's make it worthwhile
4. Bridged 2E to another chain as $DAI ready for a very exciting presale that we've been invited to 👀 more details to follow..
total farm size almost at 200E. 👨🌾
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1. We put on our largest single ticket trade today by purchasing 812 $LUNA ($75.5k) and staking it in the Terra ecosystem. After several weeks of discussions with leading professionals in the DeFi space, we have high conviction in this.
2. This is in addition to the 8 ETH of $bLUNA that we acquired at $54 and $72 (now $92), which we already have as collateral for UST deposits and are utilising the slow burn process. Credits to our podcast guest @shivsakhuja for the graphic
3. We added a higher risk strategy by purchasing worth of $HND at an average price of $2.50. Already +57.6%. We put this on because a) we already have stables on hundred.finance and b) we spoke to a number of people v close to the protocol about their plans.
Today was a very good day for the $ReFi farming portfolio. We will v soon be close to 165 ETH. A casual stream of thoughts before bed...
1. I'm much more comfortable with how our risk buckets are spread across farming strategy types. For those that haven't read it - check out our medium articles and how we go about allocating YOUR funds (based on 14d and 30d realised volatility)
2. Can't be too (short-term) outcome-focused in this long term game, but I am glad we listened to some of our advisors and parked some USDC stables into hundred.finance, since the majority of the (high) APY is paid in native token incentives.
Beyond the "Curve Wars" narrative, another reason we like $BTRFLY is because of the yield enhancement strategies they apply to their treasury assets (CRV, CVX and gOHM)...
1. First you need to understand that all big DeFi protocols (@MIM_Spell, @FantomFDN, @CreamdotFinance) are playing a game -> they want as much VOLUME (TVL=total value locked) as possible. Why? cos fees init bro. At the same time, guys like me want the best % return on stables.
2. That's where Curve ( $CRV ) comes in - it's THE dominant marketplace for stablecoin swaps (managing treasuries etc). Curve is where ALL the action takes place. There is no second best.
It's a sentiment check for greed/fear. Red = market vulnerable (expensive to go long) and frothy. Green = people scared to long. I also want to pay the least to be long.
2. Set "stink bids" i.e. trigger orders to open if the market suddenly drops a few %. These happen when whales want to grab liquidity lower and stop out the little guy. I'm happy having no position when needed. Patience is a virtue.