Investment by BlockChain: 2022-12-21

I'm going to have some 'fun' with my @BenqiFinance money markets. To wit: I'm giving myself 100 $AVAX self-loans, once per day until I hit 90% LTV.

What am I going to do with these self-loans?

Fair question.

• 50% to @TeamKujira 
• 50% to Fantom Opera to @GeistFinance self-loans.

What're the impetii? We'll get to those. First, let's transfer the $AVAX liquidity to these other blockchains.

First up: @TeamKujira.

I swap 50 $AVAX to $USDC on @KyberNetwork, 

... then to $axlUSDC on @CurveFinance.

I bridge the $axlUSDC to @TeamKujira using the BLUE bridge. 

On the Fantom Opera-side, I transfer my remaining $AVAX to @Bybit_Official, 

... then SWAP-SWAP to $FTM, via the AVAX/USDT and USDT/FTM order books there, 

... then transfer that liquidity to Fantom Opera.

When the liquidity reaches my Fantom wallet, which happens today in very short order, I swap the $FTM to $USDC on @UniDexFinance, 

... then supply that to @GeistFinance, 

... then borrow it back, ... and a chunk more, as $MIM.

Why? 

The 'why?' is this, maybe:

My borrow is 11,960 $MIM, but the current value of that borrow is $11,945.

Is this $MIM depegging? Maybe. It is a trend that I am observing: $MIM's value is below peg, and it hasn't corrected to peg for more than a week.

What happens next with $MIM?

I don't know what happens with $MIM.

The material point is I win:

• if $MIM completely depegs, I walk away with the δ on my $3,500 @GeistFinance investment, which is currently $12k. Net.
• If $MIM repegs, I'm making 5% $GEIST on a $12k looped $MIM borrow.

I win. Either way.

Correction: 

I said "making 5% $GEIST" the current APY is 11%. Even better.

What do I do with $GEIST?

I could convert it to $ETH after it vests. 

$ETH supply is 5% APR. That's not tempting: I can do better on @TeamKujira FIN.

Or I could lock $GEIST for platform fees.

Me likey.

But in the in-between-time, while the $MIM-fate is undecided, I have work to do.

Let's get to work.

I convert 100 $MIM to $USDC 

... and invest it into the $USDC-pool on @UniDexFinance, 

... which is currently making 46% APY-ish, caveat: principal is at risk in this pool.

I swap the rest of the $MIM to $FTM on @UniDexFinance, and go to deposit some into the $FTM-pool there.

BUT WAIT! ... and HARKEN! There are yields to collect! 

So I collect them.

Let's compute the real APY on this pool.

... [computes].

Holy G-d! It's actually 51% APY!!! 😱😱

The problem with such high and accurate APY is that now I face a conundrum:

• invest into @GranaryFinance, where I'm looping $sFTMX supply - $FTM borrow at 100%+ APR, realized; or,
• deposit into $FTM-pool on @UniDexFinance 

What do I do when I face a dichotomy?

I choose both.

I deposit 1320 $FTM, ~$250.00, into the @UniDexFinance $FTM-pool. 

The remaining $FTM, I swap to $sFTMX on @SpookySwap, 

...then supply to @GranaryFinance.

Then I loop that investment: borrowing $FTM, swapping to $sFTMX on @SpookySwap, then resupplying the money market from the borrow.

I loop twice this time.

When the dust settles,

• My LTV is at 66%
• My health-factor is 1.12

I'm now ready (finally!) to run my daily @GranaryFinance-report.

Dear @GranaryFinance,

You have USD-values for supply and borrow amounts, please add USD value for reward-amount? 

Thank you.

love, geophf

Investment by BlockChain: 2022-12-21

invested: $76,179.56
value: $67,200.89
ROI: -11.79%