Tuesday, October 11, 2022

Daily Mirror Protocol APY/APR/Asset report, 2022-10-11

Daily @mirror_protocol APY/APR/Asset report, 2022-10-11



2 shorts ($mFB, $mGOOGL (grandfathered)), 12 long LPs

incept date: 2022-09-30

Invested: 21302.1 $UST
Mirror valuation: 20616.2 $UST
Accumulated yields: 91.53 $MIR


$MIR quote: 4.09 $UST

net APY: 99.74%
net APR: -7.10% 



Analysis

What does this report mean?

A one-day 20% $MIR price-drop is a gut-punch, AND it's a downward trend, now, too, so: YUCK!

$MIR's price seems inverse to $UST price.

It's also affecting APR, still negative, only moreso now.

But: there are 300%+ APY farms still to be farmed. 


YAY!

Farming

Okay. I've accumulated enough $MIR-yields to harvest them. WAT DO?

The Terra (classic) bridge is STILL down, 


... so I'm going to reinvest these yields into the (lock'd) Mirror LP farms.

  • I collect the $MIR yields


  • I SWAP to $UST on @loop_finance 



Applying the approach from the HOWTO, 

  • I first verify the highest-yielding farm: $mVIXY, 


  • then buy into that @SpecProtocol vault with $UST, 


  • then immediately withdraw from that vault as the mVIXY-UST LP!


IMPORTANT! --^

  • then stake that LP on @mirror_protocol 

The increased $mVIXY long LP farm is now reflected in the @mirror_protocol asset allocations.



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