As you know we are long-term bullish. But this FOMC & Russia announcements are making macro look bleak in the coming day(s). Did #bitcoin price it in with today's -3%?
As a general courtesy, please keep an eye out for your Zero loan since we are manually keeping track of CR to update our loan if needed.
If a strong (flash) dip occurs, realize that our current liquidation price (without yet paying back anything) is around $10,750.-
ctd.
Hence we're still quite safe, and if we would pay back part of our reserve we can bring that liquidation price much further down (to $200 outstanding loan min., or close your position). This price number is reported on the Daily Dash.
ctd.
Depending on the price action in the next days I may recommend a preliminary payback as an option, regardless of what the algorithm tells me. The algorithm deals with the daily but not intra-daily action. And we want to be on time when the tweet comes.
ctd.
Generally to understand: if we will payback, it will be in an amount targeting 250% CR. However those reserves paid back means they aren't accruing yield. So we want to minimize risk and maximize yield.
Sit tight for now.
They never said it would be easy to #HODL.
Hang in there.
Zero Protocol is a @RSKsmart smart contract that you can interface through @SovrynBTC's #DeFi platform.
It mints $ tokens (ZUSD) against your #bitcoin, and you are the counterparty. Therefore, 0% interest, no payback term.
#SuperHodl is a trading algorithm that leverages several @SovrynBTC platform products; notably Zero and a lending pool.
It:
- Takes out a $ loan against #bitcoin
- Puts the $ in a reserve to gain yield over time
- And computes every day if an action is necessary by the borrower
Zero loan protocol from @SovrynBTC is about as mind-boggling as #bitcoin itself🤯
A short thread with some... Philosophy? Let me know if you agree with these concepts & RT to spread the word.
🧵
To start, I love the freedom of it all.👑
You loan from yourself, mint some coins for yourself, have to pay back to yourself, and lock up your own collateral, for you. 🫵
Truly you are "Your Own Bank" as intended by #bitcoin. 🦾
If you have bad lending habits, others will liquidate you. The community keeps you honest.
Your risk is fully your own: appetite for a timely 110%? Go 11X margin long! 150%? Safety first. Truly want to set and forget? Consider 300-500%.
#SuperHodl is in buy mode for the first time! Use your #bitcoin in a managed collateralized 0% loan from @SovrynBTC.
Please see the dash for actions to take. Let me know if I can help clarify any steps / numbers / graphics.
See below for some notes.
It took me some time to update all this and execute myself. The price is moving all the time, so the numbers may already be out of date.
The most important is to obtain the # of ZUSD from Zero that gives you a collateral ratio of 250%.
Adding very small amounts of RBTC to the collateral is difficult in the GUI (@lightcoin feedback ;p). I rounded up the number the algo gave me and ended up slightly above 250% after that.
Remember kids, it is a manual trial, none of this is perfect or algorithmic in any way.