Logical Graphs LLC: Mad Meerkats and Mimas on CRONOS

OKAY, FRENZ! I was just awarded 545 $MIMAS ... YUS! 👏

So it's that time of day to do a #crofam tour of @mimas_fi.

You'll see I set up some MM ('mad meerkats') vaults a month ago at the @Defiraverse début. Let's visit and rebalance those at @MMFcrypto, as well.

"Mad Meerkats." "Mimas." You would think with all the 'M' words on Cronos that they would name the Blockchain: 'Μνημοσύνη.' But did they? No. Missed opportunity. Their marketing intern should be punished by making them make 10 photocopies of a 150-page powerpoint presentation deck for their next staff meeting.

Okay, you would think the first thing I would want to do is to cash in those sweet, sweet $MIMAS.

You'd be thinking wrongly.

On the #CRONOS chain, if you don't have $CRO, and a lot of it, you're dead in the water.

Let's go to @MMFcrypto first to fetch some $CRO yield.

... specifically @MMFcrypto vaults.

First off, what really sucks about this UI? I'm staked in these vaults, but I can't see how much I'm staked until I go into each one of them? TF?

You don't make it harder for your investors to invest: you make it easier for them.

The first vault I make a bee-line for is the $MMO vault, yielding $CRO. Well, not $CRO, but $WCRO.

Beggars cannot be choosers.

The yield is 133 $CRO with a transaction fee of 3+ $CRO. This violates geophf first rule of yield-farming.

geophf's first rule of yield-farming:

DO NOT collect yields where the transaction fee is more than 1% of the yield. DON'T DO IT.

I have yields of $100, $200, but the transaction fees are $4? That means I wait until THE YIELD IS OVER $400. THE YIELD! $400! WHY? 😤

But, here I am collecting 133 $CRO ($WCRO, which I'll have to convert, which I'm not happy about) at a 3 $CRO transaction fee, because I need that $CRO so badly that I'll have to let the transaction fee eat into my yield.

I hate Ethereum. And Ethereum-lookalikes. Hate'm.

Why? Imagine:

1. You go to the bank and withdraw $62. Only, it's not $62. It's $60.50.

"Transaction fees" is the explanation.

TF?

2. You go to the grocery store with your $60.50, but you have to put items back, because the bill is another $1.50 over.

Transaction fees.

Harmony has it right. Terra has it right. Solana, Cosmos, Algorand have it right. Others have it right.

You don't charge $1.50, $12.73, $192 FOR A TRANSACTION FEE!

If you do: you watch your customers and investors walk away.

Why do we allow egregious transaction fees?

People will flock to #CRONOS to play CrystalWhatevs, paying $1.50 PER TRANSACTION?

You find questing expensive on Harmony? You know why @DefiKingdoms toppled @AxieInfinity? It cost me $30 to transfer $100 to that game.

Money suck: that's what high transaction fees are.

"Ser, this is a Wendy's."

Ya. Ya. You want those sweet #CRONOS α, not the ravings of a mad lunatic. WELL, SONNY, I'M RAVING! I'M MAD, AND I'M A LUNATIC! AND I WANT A FROSTY WITH THOSE FRIES!

*grumble* *grumble* Those fries better be hot, too. *grumble*

Why am I so pissed about this? After all, I got ~$60 worth of $CRO ... well: $WCRO, right?

Glad you asked.

I waited a MONTH to collect these yields at 1000% APY and it STILL violated geophf's rule of yield farming?

High fees are a barrier to success for the little guy.

Okay, but, so: now I have $WCRO, time to unwrap it to $CRO. We go to @MMFcrypto swap-page.

Whoa. The inconsistent-look of this page is jarring. Why is the presentation so different for the vaults verse their swap-page? Am I on a different site? Ick. No bueño.

But, thank God! the transaction fees are not insane for a $CRO-unwrap, ...

... and now I have $CRO on the #CRONOS blockchain. Thank God!

I have a lot to be thankful for, actually. So, yeah: thanks, God, for all I have. 😊

Okay, so now that I have $CRO. Let's see what else I can harvest. And let's see where that harvest will go. We have:

~ $150 in the MMF-CRO vault ?
~ $45 in the MMO-CRO vault ❌
~ $62 in the MMF-USDT vault ❌
~ $63 in the MMF-USDC vault ❌

Huh. Disappointing.

Even worse news: the gas fees were 11ish $CRO. I rolled the dice on this transaction, but it still came to ~5.5 $CRO.

Meaning I should have harvested at $270 in yields, which would be another month. On their high-paying vault.

This ... isn't great for a yield-farmer.

Now I have $MMO and $MMF to invest. Where to? The $MMO is easy: that goes into the vault that produces $WCRO, which we need in order to breathe on this blockchain.

Let's do that.

Fortunately, THIS transaction fee was much less. So they don't penalize you on the deposit.

The $MMF is a more-interesting story. Why? @mimas_fi pays $MIMAS on collateral, so: do I want to put my $MMF into @mimas_fi.

Not only no, but, emphatically: HELLz NAH!

Why? @mimas_fi pays 0% $MIMAS on $MMF deposits.

0%.

So, let's look to our @MMFcrypto vaults, then.

Right off the bat, we eliminate vaults that pay in LPs (questionable ones, at that), because a yield of an LP is hyperinflationary. So we're left with $MMF vaults of stables and of $CRO.

I'm going to think on this while I collect and stake my $MIMAS rewards.

Okay, I claim, stake, then lock the $MIMAS into @mimas_fi secret weapon: the fees-stake.

And pay $1.80 for the privilege. Even approving transactions costs money. Ugh.

That taken care of, now I have to allocate my earned $MMF and remaining $CRO.

So, my strat, always, when presented with excellent choices, is to choose all of them. To wit: I'll SWAP half my $MMF for $USDT and $USDC, farm those, and any remaining $MMF goes to the $MMF - $CRO vault.

les $MMF SWAPées:

Then we el stake the el LPs into @MMFcrypto vaults, after we pair the $MMF assets, of course.

Staking the LPs in the vault cost 10 $CRO, FYI, fam.

There is a single-stake farm of $MMF for $MIMAS I'd like to explore, so, instead of adding to the $MMF - $CRO LP, I'm pivoting to this farm instead today.

Given the fees, it'll take about 1 year for me to collect viable yields from my investment.

1 year.

I have some (~120) $CRO left. I'll deposit that into @mimas_fi, but, here's a trick: I swap some for $USDT and $USDC so that I take advantage of yield returns across the protocol token and the stables

But, when you deposit $CRO remember TO SAVE $CRO for TRANSACTION FEES!

So, I have a little bit of collateral established on @mimas_fi, shall I take out a loan? Yes, I shall. The highest yielding loan is $USDC, so I'll loan myself that, then immediately collateralize the loan amount ... with the loan: δNeutral farming at its best.

5 $CRO for a loan.