Let's establish initial @arbitrum positions.
To do that: I need liquidity on that chain. So I
- (self-)BORROW 100 $AVAX from @BenqiFinance
- SWAP to $ETH on @KyberNetwork
- BRIDGE to @arbitrum on @CelerNetwork
Let's rock. Or, as I say: "en: y va." 😈 (That is(n't) French)
Now, I note in passing that 100 $AVAX ~= 1 $ETH.
1 $ETH: that's what I'm starting with.
Wouldn't it be neat if I were to be earning 1 $ETH in yield/day? For many, that would be complete financial independence.
Let's make that happen.
Not today. Not tomorrow, but let's BUIDL to that point, and recollect this start.
So, let's establish our @GMX_IO positions now. Buying $GMX is standard fair:
...you swap from $ETH to $GMX on @traderjoe_xyz,
...then stake that $GMX on @GMX_IO
No surprises here.
$GLP is complicated, as it is on @avalancheavax.
- First, I check the coin-fees, and lo! and behold! $USDT has no fees!
- Next, I swap $ETH to $USDT on @KyberNetwork
- Then, I buy $GLP with $USDT on @GMX_IO.
The contract auto(magic)ally stakes the bought-$GLP.
So, now I have @arbitrum-positions. Do you know what this means? REPORTSZORXEN! (that's a word now).
Arbitrum Protocols 2023-02-14
invested: $2,021.00
value: $1,858.76
ROI: -8.03%
Not an auspicious start, but it's a start, and that's what matters to me.
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