Roger DEFI Profile picture
Feb 15, 2023 15 tweets 13 min read Read on X
#GLP strategy

As many know, I've been a big fan of @GMX_IO $GLP strategy due to unique qualities protecting downside & maintaining upside...

real APU ~20%-30% + juiced #AVAX Rush rewards compounding on @yieldyak_ $YAK

it just got a lot better...


1/14
1st off, @GMX_IO is experiencing a record in trading & other fees, resulting in real yields of +90% APY

Just compounding that on @yieldyak_ YAK would result in +130% APYs
2/14
w/ the advent of @DeltaPrimeDefi allowing you to undercollateralise your @GMX_IO $GLP & lever your exposure, you can multiple your APY!


3/14
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!

medium.com/@harry.avax/re…
4/14
Step-by-Step Guide
1) Buy @GMX_IO $GLP via @yieldyak_ $YAK swap
2) Deposit GLP on @DeltaPrimeDefi
3) Stake GLP on farms page
4) Borrow $USDC (or #AVAX)
5) Use USDC to mint/redeem add'l GLP
6) Deposit newly minted GLP
5/14
1) Buy @GMX_IO $GLP via @yieldyak_ swap
yieldyak.com/swap
which gives you optimal pricing on GLP

6/14
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

Be careful & NFA! Have a nice day!!!
14/14
Update on my @GMX_IO $GLP leveraged position on @DeltaPrimeDefi

-been steadily adding to my GLP collateral, selling altcoins from last day's pump
-also adding leverage (now 20% health vs. previous 25% health)

feels good to be degen defi-ing again

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Roger DEFI

Roger DEFI Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @rogeravax

Apr 28, 2023
#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 Image
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 Image
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 ImageImage
Read 8 tweets
Mar 16, 2023
this time IS different
@arbitrum $ARB airdrop confirmed!!!

check you eligibility at arbitrum.foundation

in total, I'm receiving 44.5k @arbitrum $ARB tokens across 16 wallets (highest = 8.5k ARB, most ~2.5k ARB).
1/2
Tokens were based on 1) bridging, 2) txs over time, 3) tx freq & interaction, 4) TVL, 5) liquidity & 6) activity on Nova w/ tiers

looks like all those months clicking buttons & participating in the ecosystem paid off!

hope you all got a good airdrop as well
2/2
some more colour from sources
est. @arbitrum $ARB FDV = $10b-$20b
across 10b tokens (airdrop = 11.5% of supply)
if so, ARB token = $1-$2

also worth mentioning that most of my wallets had <$1k (but lots of ecosystem participation/clicks) & got 2.5k tokens = $2.5k-$5k. not bad!
Read 4 tweets
Aug 10, 2022
#crosschain thesis
@axelarcore, a new cross-chain protocol has just announced a partnership w/in $AURORA w/ their #1 DEX @trisolarislabs $TRI

Cross-chain will be a MAJOR theme for 2022 & has big implications for #AVAX defi ecosystem

Here’s why...

1/14
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 ImageImage
Read 14 tweets
Feb 27, 2022
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

Here are the official announcements from
@echidna_finance $ECD


1/2
And @vector_fi $VTX



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? Image
Read 5 tweets
Feb 27, 2022
My Strategy for Playing the #PTParty #PTPwars
(16-Part Thread Incoming)
#PTParty starts *TODAY* Sunday Feb-27 6pm UTC

This has already caused a massive run-up in PTP against a shaky macro crypto & #AVAX market

So what's going on?
1/16 Image
What does #PTParty mean?
3 protocols, an established one @yieldyak_ $YAK & 2 new projects @echidna_finance $ECD, @vector_fi $VTX are launching strategies on top of @Platypusdefi $PTP to give users enhanced % APYs on stablecoins

Let's unpack this...


2/16
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 Image
Read 17 tweets
Sep 30, 2021
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 $$$

Last Serious Post

2/19
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


3/19
Read 20 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(