Here's my step-by-step guide (based initially on this great article by @harry_avax)
Many of my friends struggled to deploy this - forgivable since we all need to stretch our defi sea legs after a long bear mkt - so hopefully this helps!
2) Deposit GLP on @DeltaPrimeDefi
Go to: app.deltaprime.io/#/prime-accoun…
+ symbol -> deposit collateral
add funds (in this case 7.7k GLP)
(also deposit a small amt 0.1 #AVAX to open up your DeltaPrime account)
7/14
3) Stake GLP on farms page
Go to "Farms" tab
+ symbol -> Stake
DeltaPrime is staking your GLP in the @yieldyak_ $GLP strategy, enabling autocompounding & #AVAX Rush Rewards 🔺💕
8/14
4) Borrow $USDC (or #AVAX)
Go back to "Assets" tab
I'm choosing to borrow USDC at 35% at ~3.5x my GLP collateral
+ symbol -> Borrow
Note: since I'm borrowing USDC to then buy GLP, as long as GLP APY is >35%, this strategy is profitable
9/14
BE CAREFUL w/ leverage. My borrowing USDC at 3.5x GLP collateral ($20k/$5.7l) is still risky
Note: if you borrow AVAX you're essentially short AVAX vs GLP (50% stables, 24% BTC, 21% ETH, 5% AVAX)
Note: you start getting partially liquidated when your health % goes to 0%
10/14
5) Use USDC to mint/redeem add'l GLP
In same "Assets" tab, click arrows action on GLP to mint/redeem GLP
In this case I'm using $20k USDC to mint a further /$0.75/GLP = 26.6k GLP
11/14
6) Deposit newly minted GLP
Go to "Farms" tab
+ symbol -> Stake
(as before)
12/14
That's it!
The final outcome is taking my $5.7k $GLP, depositing as collateral to borrow $USDC to buy ~3.5x more GLP
APY ~460%!!!
We'll have to watch this closely & evaluate as variables (esp APY borrow & earn rates)
13/14
1 final note: there's no add'l "looping"
the borrow and the deposit of the @GMX_IO $GLP minted on @DeltaPrimeDefi are NOT on your personal account but on DeltaPrime's account so they are not part of your collateral
#launchpad strategy
(to complete a prev. thread that Twitter mispublished)
this am, @binance had an IDO for @opencampus_xyz $EDU. the process involves allocating tokens based on your avg #BNB balance & can be very lucrative!
here's my strategy for how to game below 👇 1/8
my analysis of the past 6 @binance launchpad IDOs indicate that an IDO allocation is basically free monies, with the median performance at launch of >15x (@opencampus_xyz $ID currently >25x) 2/8
the problem w/ their launchpad process is that a v large #BNB balance only yields a small IDO allocation
for example, for today's @opencampus_xyz $EDU IDO, I had an avg balance of 134 BNB (~$44k) which yielded an allo of 0.11 BB ($35)!!! 3/8
a) Why I think cross-chain interoperability is the future
b) Why @axelarcore is a potential winner in a cross-chain future
c) What are the potential implications for #AVAX defi ecosystem?
d) What’s the play investment-wise $$$?
2/14
a) Why I think cross-chain interoperability is the future
Crypto defi is becoming increasingly fragmented w/ competing L1s
More so these L1s & dapps are becoming increasingly specialised
Think @swimmer_network#subnet on #AVAX or @dYdX $DYDX launching own @cosmos blockchain
3/14
Looks like an audible has been called last minute.. and @Platypusdefi#PTParty launch has been delayed (from what I can tell) until Thursday, Mar-3, 6pm UTC
Scurrying to find out more info ASAP
Key question is if we can stake @Platypusdefi $PTP for $ecdPTP on @echidna_finance $ECD & $xPTP on @vector_fi $VTX, respectively, now to accrue rewards or if rewards don't start until Mar-3
2/2
Addendum 1/2
Looks like @Platypusdefi $PTP staking is live on @vector_fi $VTX
I converted an initial amount 4k PTP into xPTP & staked some stables. Are they not honouring the detante?
Topics to discuss 1) What does @Platypusdefi $PTP do? 2) What will @yieldyak_ $YAK, @echidna_finance $ECD & @vector_fi $VTX do to enhance this 3) What’s the optimal strategy for playing this?
3/16
My Strategy for Optimising Returns for Incoming #AvalancheRush
Epic 20-part thread incoming...
DISCLAIMER: DYOR, NOT INVESTMENT ADVICE, THIS MAY INVOLVE HIGH RISK
1/19
Hi All, it’s been quite a few months (May-21) since my last deep-dive into @avalancheavax $AVAX #defi investment strategies – frankly it’s become a FT job managing a larger portfolio & +EV was to focus on taking care of the $$$
Now that #AvalancheRush is at our doorsteps - @kevinsekniqi has *promised* TODAY for @AaveAave $AAVE launch+rewards - I thought I'd gather my thoughts on how you might best position your @avalancheavax $AVAX native portfolio to take full advantage