Thursday, February 9, 2023

Looping stLUNA on Demex Nitro

Today, we're going to explore Nitro on @demexchange and set up a looping strategy. Or two. Maybe.


Today's going to be a busy-learning-day today. It already has from 6:30 am, and it ain't no stoppin' it, folks.

Before trying things on @demexchange we need their protocol token: $SWTH.

As the US Air Force says: "We can't kick ass,
without gas."

Same thing here.

How I got $SWTH was to swap some $OSMO on @osmosiszone, then withdraw to @0xcarbon. 


That's one way.

So, we have $SWTH on @Demex, let's get some supply-tokens on-boarded and walk through looping an asset.

For the example today, I'm going to loop $stLUNA-supply with $LUNA-borrow assets.

Let's make that happen.

To loop $stLUNA, we need $stLUNA, somehow. How I choose to get started is 

  • to bridge $LUNA from Terra to @stride_zone


  • to mint $stLUNA from $LUNA on @stride_zone 


  • then, thanks to the community, I learned I deposit those tokens from @stride_zone to @demexchange 



EASY-PEASY! 

So, I go to deposit a little bit of $stLUNA, and I get the following error message:


blah-blah-blah supply cap exceeded blah-blah-blah


What is this? Day 0 and they hit max supply?

Thus endeth the $stLUNA-loop tutorial for @demexchange. 

Have a nice day, folks.

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