2022-11-08 Benqi Finance AVAX loop APR report

Let's collect the yields, now on @BenqiFinance, then generate its daily report. 

Recall that I collect the $AVAX-yields first, distribute them to my @traderjoe_xyz sAVAX-AVAX LP, which then harvests $QI-yields, which I bring back to @benqi.

Let's see how this plays out.

I swap the $AVAX-yields to $sAVAX on @KyberNetwork, then pair that with $AVAX from my reserve then stake on @traderjoe_xyz. This releases the $JOE- and $QI-yields.

The $JOE-yields I stake as $sJOE on @traderjoe_xyz to earn $USDC-yields: yields generating yields. The $QI-yields I swap to $sAVAX on @yieldyak_ then supply to @BenqiFinance.

Let's purchase some $AVAX – you'll note that @coinbase has disabled their order book and all documentation links are broken – and then transfer that liquidity to my Avalanche wallet. 

$AVAX here, I then swap it to $sAVAX on @KyberNetwork, then supply it to @BenqiFinance, then immediately borrow half back as $AVAX.

This is my working liquidity for today.

AND: I'm now ready to run my daily @BenqiFinance report.

2022-11-08 @BenqiFinance $AVAX loop APR report

APY 10.81%
APR 20.47%

total yields collected: 3.53 $AVAX and 3551.32 $QI on 2022-11-08
yields, incept: 2022-10-22
yield collected for 17 days
With $AVAX at $16.04 and $QI at $0.008175 that is $5.04 collected per day (avg)

Analysis

These returns are comparable and in-line with what CIAN is getting from their @BenqiFinance strategy.

With my yields reinvested, maybe I'm doing a midge better? Anyway, hat's off to CIAN for implementing and sharing this strategy.