Monday, September 26, 2022

Tour: DFK Chain

Let's look at my assets in 'all the other' blockchains, consolidating what I don't need, and taking those losses as we go.

Now this is a party. ðŸĨģ😭

The DFK Chain's CrystalVale

Do you want to see what used to be $1000 looks like?

It looks like this. 


I'm liquidating these LPs and moving all $74 to somewhere where I can make all $1000 back, and then some, haha. ðŸĪŠ

BUT RUNESZORXEN!?!??!??!??!?!??!?!?? 


OOH! RUNESZORXEN MOARSZORXEN! ... AND AN EGGIE! 



... but wait for it ... 


Please welcome Empyrean Marshgem, Seer, Monk, forager by profession, to level 3. 


Okay, I've liquidated my DFK Chain LPs. How do I get this liquidity onto Avalanche, and not pay a heavy bridge penalty?

I don't know the best way. Do you?

My approach is as follows:

1. convert everything to $JEWEL
2. bridge to Harmony using @MultichainOrg with almost no fee
3. bridge to Avalanche, same.

Let's do that.

I swap EVERything, including questing items, to $JEWEL ... EVERything! 

... did I mention EVERything? Because I just swapped EVERything to $JEWEL. That took longer than even criminally allowed. 





Total swap value: $69.96.

Eheh. I'm not even joking. 😅ðŸĪĢ😎

But ... BLUE RUNESZORXEN!?!??!?!?!??!?!?!?!??!


Case in point.


And that didn't even take all that long for me, either! 😎

Now that the $JEWEL is on Harmony, I immediately bridge it to Avalan-...

Wait a second.

I'm on Harmony.

Let's collect yields, first.

Oft to @FuzzFinance! 


After much hemming and hawing from Harmony network, which decided to be recalcitrant,


  • I SWAPPED the $FUZZ to $ONE on @FuzzFinance 

  • I SWAPPED the $ONE to $JEWEL on @DefiKingdoms 


  • then I BRIDGED the $JEWEL to Avalanche on @MultichainOrg 


On Avalanche, I SWAP the $JEWEL to $AVAX on @pangolindex.


Now I have $AVAX, so I want to fund @BenqiFinance with it. But before I do that, let's collect the yields on @BenqiFinance, first, and distribute those.


But even before that, I record the yields collected from @FuzzFinance and converted to $AVAX as pay-down for my self-loan there. Its status as of 2022-09-28 is as follows.





Lookin' good! 😎

The QI-AVAX LP $QI-yields I use as supply

  • 50% is swapped to $AVAX on @pangolindex 


  • 50% is SUPPLIED to @BenqiFinance 


Now. How do I supply @BenqiFinance with my $AVAX?

Pre-supply stable coin borrow worksheet (PSSCBW) to the rescue! 



PSSCBW is on the Pre-supply tab.

So, following the PSSCBW,

  • I SWAP $AVAX for $USDC.e on @traderjoe_xyz 


  • I SWAP that $USDC.e to $DAI.e on good ol' @CurveFinance 


  • I SUPPLY that $DAI.e to @BenqiFinance 


  • ... which I immediately borrow as $DAI.e on @BenqiFinance: loaning myself funds, ... from myself. 😎 

This self-loan increases my stable loan, which on 2022-09-28 is as follows: 


And, the previous transactions of yield-farming, both on @FuzzFinance and @BenqiFinance, and CrystalVale-conversion, as well as funding the stable-positions, have affected the $AVAX self-loan thusly on 2022-09-28: 





How am I going to use that self-loan?

There some interesting leveraged LP yield-farming on @Francium_Defi on Solana, but not tonight: I'm too tired to go into something new.

  • 50% will go to $sAVAX SUPPLY on @BenqiFinance 
  • 50% will go to QI-AVAX LP STAKE on @BenqiFinance 
So, the first thing I do is to swap the $DAI.e to $USDC.e on @CurveFinance.


Why? Swapping to anything from $DAI.e is terribly slippy on Avalanche. Case in point: look at the swap from $DAI.e on @traderjoe_xyz and @pangolindex ...



... yeesh! ðŸ˜ą

Next, I SWAP 100 $USDC.e to $USDC.


Why?

As short-reserve for @GMX_IO, which only takes $USDC, not $USDC.e

... because rules are rules. 🙄

With the remaining $USDC.e,

  • I SWAP it to $AVAX on @traderjoe_xyz (best swap)


  • I SWAP 50%ish of it to $sAVAX on @traderjoe_xyz (again, best swap)


  • then I SUPPLY that $sAVAX to @BenqiFinance: ~$2k-worth. 

To complete the $AVAX, 

  • I swap 50% of the $AVAX to $QI on @pangolindex 


  • I provide liquidity to the QI-AVAX LP


  • then I stake, or deposit, that LP on @BenqiFinance 

The @BenqiFinance net asset allocations come to rest here on 2022-09-28: 




Net APY on @BenqiFinance: 1.79%
Computed Real APY on principal: 7.51%

https://github.com/logicalgraphs/crypto-n-rust/blob/main/src/ch05/apy_goal.rs

To make $1000/day in yields:

$4,861,080 in principal or 277,142.5 $sAVAX
$20,391,062 in leverage or 1,162,546.3 $sAVAX

I am at 0.38% principal goal and 0.39% leverage goal




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