Thursday, March 9, 2023

Materializing USK: 3 ways

Wanna have some fun?

Here are three ways to materialize $USK.

  1. trade $axlUSDC for $USK on the FIN axlUSDC/USK order book.


50 $axlUSDC will get you 48.83 $USK

So, there's our basis.

Next approach.

  1. We arb USK with OTHER TOKENS.

I just had a $gPAXG catch-all bid hit on the gPAXG/axlUSDC order book when $gPAXSG knifed down.

The price has recovered, so I can sell it back for $USK



50 $axlUSDC -> $gPAXG -> 50.3 $USK

... or 2 $USK more.

Nice! 
  1. Well, this OTHER TOKEN just happens to be $gPAXG, which can be used as collateral to mint $USK, ... in fact: 21 $USK. So, in this scenario, I keep my $gPAXG AND get the 21 $USK.



Someday I must pay it back, but that someday is not today, ...

... OR. IS. IT???

I, in fact, use that 21 newly-minted $USK to pay down a bit of my $ATOM $USK-mint.



My plan here is to use $gPAXG, $wBNB, and $wDOT as collateral, and pay off the $ATOM and $wETH, as I have uses for them elsewhere (@demexchange and @Umee_CrossChain and @OsmosisFrontier). 

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