I don't know WHY this just happened, but I DO know WHAT just happened:
@UniDexFinance just deposited ~100 $FTM into my $FTM-pool and ~10 $USDC into my $USDC-pool, just ... because?
HEY, I'M GRATEFUL! I YAIN'T COMPLAININ'! 😤
For some reason, $SD decided to sky. 😳
Do you know of any reason why, @staderlabs?
I collect the $SD-yields on @GranaryFinance,
...then I borrow 118 $FTM there, too.
Why? We'll come to that.
But first, I swap half the $FTM for $USDC and the rest for $sFTMX on @SpookySwap.
And the 'why' is this:
I'm opening the "Stader, Stable And Staccato" LP on @beethoven_x.
I'm taking the earned-$SD tokens and leveraging them with $sFTMX and $USDC borrowed tokens, forming the LP with yields and a self-loan from @GranaryFinance.
While I was doing this, I noted that the "The Stader Staked Symphony" LP on @beethoven_x is earning almost 30% APY, which is more than the leveraged returns from @GranaryFinance, I think, so I'll be opening a position there, too.
... after my afternoon walk, bien sûr. 😎
But before I self-loan a self-loan, let's talk returns for a moment, and real returns at that.
What do I mean? I've been generating @GranaryFinance reports saying the APR's around 100%+. That means it pays for itself in a year.
Really?
Let's examine my APR formula.
Let's examine the positions on @GranaryFinance:
We have $4.4k invested for a leveraged $sFTMX position of $14k.
That's 3.3x leverage.
$sFTMX grows 4.7% vs. $FTM, so that's 15%, leveraged.
But there's the borrow rate of 3.12% on 40% of the position, or 1.2%
REAL APR is 13.8%.
But ... really? Is the REAL APY of 13.8% really real?
One pragmatic way to verify this: 13.8% is ~1%/month or 1/30%/dæg.
How much $FTM do I earn each day?
Nowadays ~3ish $FTM, or 0.02% of the total.
0.02% is kinda 1/30%.
So it checks out: 13.8% is the REAL APR.
Okay, but so what? I'm earning 13.8% (leveraged) APR on the @GranaryFinance. That's good.
But can I do better than 13.8%?
The "The Stader Staked Symphony"-LP on @beethoven_x is earning 29% APY.
If I take a self-loan, at 3%, I can invest that into the LP and pay myself back.
Now, when I say self-loan, I COULD borrow from @GranaryFinance, as I have room to do so,
... but I have an idea.
Why not borrow from @BenqiFinance? That way I refund @GranaryFinance the previous self-loan to start the @Alpha_HomoraV2, AND I start the new @beethoven_x LP.
Cool. 😎
Once the liquidity reaches @Bybit_Official, I swap-swap the $AVAX to $FTM via the ATOM/USDT and USDT/FTM order books,
...then I transfer the $FTM to the Fantom GhostDog chain #GhostDog
When the $FTM reaches Fantom Menace chain, I swap it to $USDC on @UniDexFinance,
...then supply the $USDC to @GeistFinance.
I turn right around and borrow $MIM, then swap that borrow to $FTM on @UniDexFinance
This is my working capital for today? No, because, first thing, I swap 943 $FTM to $sFTMX and supply that to @GranaryFinance.
- This erases the self-loan that started the Late Quartet LP on @beethoven_x, and
- eases the borrow-pressure on @GranaryFinance positions.
I then swap the remaining $FTM in hand to $sFTMX on @SpookySwap,
...then supply that liquidity to @GranaryFinance.
I borrow it right back as $FTM.
THIS $FTM is now my working liquidity for today.
Tonight, I'll fund the @UniDexFinance pools...
and start the "The Stader Staked Symphony" LP on @beethoven_x [which we'll deal with presently].
For @UniDexFinance, I swap 900 $FTM (~$200) to $USDC,
...then supply the $USDC-pool.
Then I also stake 900 $FTM to the $FTM-pool.
The remainder of the liquidity I'll use to create the "The Stader Staked Symphony" LP
( @beethoven_x is cute, btw).
I swap some $FTM to $USDC on @UniDexFinance,
...then the rest to $sFTMX on @SpookySwap.
I supply $USDC and $sFTMX to the LP and stake it.
I have ~ 90 $sFTMX remaining, which I supply to @GranaryFinance.
Investment by BlockChain: 2023-01-04
invested: $77,076.88
value: $67,838.75
ROI: -11.99%
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