Tuesday, February 14, 2023

Net Avalanche positions: 2023-02-13

Now let's turn our attention to @avalancheavax.

There are yields to collect and to reinvest on @traderjoe_xyz and @BenqiFinance, 



...but I also want to look at the balance between the $sAVAX-loop on @BenqiFinance vs. the sAVAX-AVAX LP hedge on @traderjoe_xyz.

Okay.

So, here's what I'm talking about. 


The hedge is twice the size of the leverage, whereas, the hedge should be 1/4 the size of the leverage.

So, time to rebalance my Avalanche-positions, and, in that rebalance, let's fund my Arbitrum-positions.

So, I unstake halfish (?) of my @traderjoe_xyz sAVAX-AVAX LP farm, 



...swap the $WAVAX to $sAVAX on @KyberNetwork 


...then supply the $sAVAX to @BenqiFinance. 


In so doing, the accumulated $QI-yield goes into my wallet.

Which is nice. 

After a couple of evolutions, my hedge now is a much smaller part of the wedge, and my leveraged $sAVAX again dominates my @avalancheavax portfolio.


So, now I harvest the $QI- and $AVAX-yields from @BenqiFinance, 


...first converting the $QI-yields to $AVAX on @pangolindex, 


...then converting 3/4s of the $AVAX to $sAVAX.


Why 3/4s? You shall see.

So, 1 $AVAX/$sAVAX goes to provide liquidity to @traderjoeintern LP farm.



The remaining half is all $sAVAX, and that all goes to @BenqiFinance supply.


3/4s $sAVAX, 1/4 $AVAX. TADA! 

Let's also harvest (and compound, or: reinvest) the yields on @GMX_IO ... @avalancheavax-chain, that is.

I swap half the $AVAX yields to $GMX on @traderjoe_xyz then stake onto @GMX_IO. 




For $GLP, I check fees and both $ETH and $USDC.e are low fees today, so I swap $AVAX to $USDC.e on @KyberNetwork then buy $GLP with the $USDC.e on @GMX_IO 




I can now do the daily @avalancheavax report

Net Avalanche positions: 2023-02-13



invested: $50,150.83
valuation: $48,874.14
ROI: -1.90%

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