Thursday, September 1, 2022

Benqi Loop Experiment

With equilibrium (partially) restored, I borrow $USDt.

Why? It has the highest distribution APY.







Then, I immediately SWAP the $USDt to $AVAX and transfer 11 $AVAX to my secondary account (1 $AVAX to pay for incidental fees).

We're going to do a loop-experiment!

I also swap some $AVAX to $USDt and $LINK.e. Why? So that I supply all asset-types on @BenqiFinance; which I then do. 





Then I borrow and resupply $LINK.e.

Why? No, I'm not looping $LINK.e, I'm just covering my bases on the borrow-side, as well.



On my alt account, I swap 10 $AVAX for $sAVAX on @traderjoe_xyz, which currently has the best swap-rate, over @BenqiFinance $AVAX staking and @pangolindex trade. 




Now that we have $sAVAX,

* I SUPPLY $sAVAX to my brand-spankin-new @BenqiFinance money market on my alt account
* I authorize it to be used as collateral
* So now we have a net APY, ... our first measure at the start of the loop.






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