Thread by @DeFi_Made_Here

Pay to win or how to boost your APR over different chains and stablecoins with @HundredFinance.

Thread 🧵

1/ There is one interesting mechanic which I was sleeping on. You must have heard about @HundredFinance and veHND boosting mechanism. What I didn't know (shame to me) is that you can use the same boost for multiple gauges at the same time.

2/ And now with the implementation of mirrored veHND (mveHND) new opportunities appear. mveHND is the sum of all locked veHND across chains, APR boosts reflect the user’s total balance accumulated across all deployments.

3/ As of now mveHND is not yet deployed on Fantom, Harmony and Arbitrum, all other chains have it already. New deployments automatically get it - Polygon and IOTEX next chains.

https://twitter.com/HundredFinance/status/1503379402670981124?s=20&t=lSUlsBItbFlehFsodIsQWw

4/ I have prepared a spreadsheet where I found interesting options on how to increase stablecoin yield farming APR. It may vary from the amount of the capital you want to allocate, specific chain and type of stablecoin.

5/ As per the spreadsheet below you can find what is the base APR for the chosen assets, boosted APR and amount of $HND locked for 4 years required for maxing out the boost. All the calculations are based on a $1000 deposit to each vault.

6/ As you can see from the table above you can reach an average APR of 37.6% by locking up $HND worth of $355. (mveHND is not yet implemented on the #Fanton but shown in the table for general idea)

7/ As you are locking up $HND for 4 years it becomes illiquid and I exclude it from the profit calculations, taking it as a loss. Starting condition is $6355, $6000 is deposited into the different vaults and $355 worth of $HND is forever locked.

8/ You can find a comparison between the highest yielding base APR vault against diversified portfolio across different chains and stablecoins in the table below.

9/ As you see you can 1.5x boost your APR and diversify portfolio by locking up $HND, the downside is that you need to wait 2 months to be "breakeven".

10/ With integration of new chains (#polygon #iotex soon) and enabling mirrored veHND for all the chains I expect it might be even more profitable to have boost power across @HundredFinance

11/ If you have any questions remaining (I always doubt how clear are my explanations) feel free to ask them in the comments below, I always answer them (if I don't miss).

12/ If you liked this thread, I would love it if you could share it by retweeting the first tweet:

https://twitter.com/DeFi_Made_Here/status/1511313432993275912?s=20&t=Qu7O7NDT8xw2FWVpk7-Tzg

Thank you and stay safe!