Tuesday, December 13, 2022

No more Benqi loop reports

Before running the daily @BenqiFinance report, let's harvest and redistribute yields, shall we?


I split the $AVAX 50/50 into $sAVAX, then pair it back to the sAVAX-AVAX LP. 




When the LP is staked on @traderjoe_xyz, it harvests the $QI-yields there.

The combined $QI-yields I swap to $AVAX on @pangolindex, joining the transferred-in $AVAX, then swap all that to $sAVAX on @KyberNetwork, supplying the $sAVAX to @BenqiFinance.




NOW we have to figure out what to take out as today's working liquidity.

This'll be fun.

Working liquidity:

  • 500 $AVAX: @TeamKujira 
  • 40 $AVAX: @Alpha_HomoraV2 (16 $AVAX: 2 LPs, 8 $AVAX, 1 LP)
  • 16 $AVAX: @GMX_IO (8 for $GMX, 8 for $GLP)

Total: 556 $AVAX.

And I borrow that for today's working liquidity.


But here's the thing: am I stoopit?

Yes, I'm stoopit.

Instead of blowing my whole ($AVAX) wad ATL, why not DCA out liquidity to other blockchains?

Why not, indeed!

THEREFORE! I'm returning 400 $AVAX to @BenqiFinance via @KyberNetwork as $sAVAX, and I'll dribble out 100 $AVAX.



All this liquidity-movement this last 24 hours does make it impracticable to talk about AVAX/sAVAX gains for @BenqiFinance, however.

THEREFORE! (I like saying: "THEREFORE!")

I'm drawing a line in the sand.

We start @BenqiFinance over: today. #ExecutiveDecision 

And, actually, we are no longer looping $sAVAX supply / $AVAX borrow on @BenqiFinance, anyway, so the loop report is no longer useful.

ONE LESS DAILY REPORT TO WRITE! 😤

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