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.
4. We have received an airdrop of 1500 $NEWO for contributing to the NEWO/USDC LP on @SushiSwap. In fact, I just got off a call with 2 of the founders who were instrumental in the launch of $BTRFLY and they will also be coming on the podcast v. soon. Looking forward to seeding.
5. Overall portfolio balance has is healthy (see low/medium/high). $920k/240E. +289% since our first $ETH distribution of 40E on 26/12/2021 (8 days).
Tune into the Twitter Spaces tonight to hear from me and the rest of the team, and to learn more about our GROWTH plans.
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
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.