Net Avalanche positions: 2022-12-24

OOH! I have $QI-yields to collect from @BenqiFinance! 🎉

I reinvest the yields by:

• SWAP $QI -> $AVAX on @pangolindex 

• SWAP all $AVAX over 1 in wallet -> $sAVAX on @KyberNetwork 

• SUPPLY $sAVAX on @BenqiFinance marketplace 

I borrow 75 $AVAX to distribute this liquidity around the Blockaverse! 🎺

Reminder: borrowing an asset is betting AGAINST it. I'm saying I can do better with this liquidity than as $sAVAX (leveraged) growth. I have to show better returns on this self-loan through thick and thin.

Even Cannons agrees with mine sentiment: "through thick and thin." 

A self-loan says I'm going to do WAY better than the borrowed asset, otherwise that's a bad self-loan. 

My first investments are into @GMX_IO.

• I SWAP $AVAX for $GMX on @traderjoe_xyz 

• then stake the $GMX on @GMX_IO 

• I check fees for $GLP. $AVAX is fine at 0.21% fee

• I BUY $GLP with $AVAX on @GMX_IO 

Next up: @Alpha_HomoraV2

Let's prepare providing liquidity to these leveraged LPs by:

• SWAP 4 $AVAX to $USDC.e on @KyberNetwork 

• SWAP 4 $AVAX to $WETH.e on @traderjoe_xyz 

I provide liquidity to the leveraged LPs. Here's WETH.e-AVAX leveraged LP as an example:

• I supply both sides (my choice. You can provide one, the other, or both).

• I borrow to leverage to 85% (they recommend higher leverage, but I'm playing the safe-game)

• I stake the LP.

Dear @Alpha_HomoraV2.

I have questions.

Why is your borrow APY 25%? Where are you borrowing these assets from?

@BenqiFinance has borrow rates up to 6% (for $USDC.e), otherwise borrow rates are below 5%.

I love how your protocol facilitates leverage, but change rates, please.

Let's do the daily Avalanche blockchain report.

Net Avalanche positions: 2022-12-24

invested: $50,790.74

valuation: $41,885.55

ROI: -17.34%