Daily Fantom Blockchain position report, 2023-03-07

Now that I am on @FantomFDN, I'm going to lean into this possible $MIM-depeg.

$MIM has restored itself from this morning's measure, and I deem that as a good thing: perfect for borrowing when it's returned to peg!

SO! I borrow $AVAX from @BenqiFinance and bridge that as $USDC.

Why borrow only 100 $AVAX?

$AVAX is at a low-point, so borrowing $AVAX is not good. I'm going to DCA my borrow, spreading the borrow out over time as I fund this $MIM-experiment on @GeistFinance.

I supply the $USDC to @GeistFinance, 

then borrow it right back as $MIM, 

then swap that $MIM to $USDC on @UnlDexFinance ... do you see the slippage? 

then supply it right back to @GeistFinance as $USDC.

Thus we loop a $1615-investment.

Let's see how many times I can loop this.

OKAY! WHAT A LOOPING ADVENTURE!

I looped 1615 $USDC: 14x on @GeistFinance

From it, I created: $12,154 in liquidity

(both supply and borrow)

Leveraging the original amount: 7.53x

Wow-o-wow-o-wow! 😱

Now I can do my daily @FantomFDN report.

Daily Fantom Blockchain position report, 2023-03-07

invested: $28,779.33

valuation: $26,992.32

ROI: -6.21%

If you compare 'this' Fantom to the last report, you see the face of my entire portfolio here has changed significantly.