There is a lot, and I mean A LOT! going on in the @FantomFDN-world, so ...
BUCKLE UP, BUTTERCUPS! 😤
First up, I have some $FTM to collect from the @staderlabs undelegator.
AND: there's (now) nearly 2M $FTM for unstaking $sFTMX.
This gets you some seriously nice returns, unless you're caught in the terrible slippage buying $sFTMX, which I HATE, but what must be dealt with.
Let's accumulate ALL TEH $FTM.
NOT to swap to $sFTMX, because, as I mention, the swap to $sFTMX is criminally bad, terrible, in fact, as the demand, now, for $sFTMX is so high.
Why gather $FTM? I'll answer that after I gather it.
First: $FTM yields on @UniDexFinance.
Next.
I'm only making 13% APY on the $FTM-pool on @UniDexFinance. That's ... okay, and, in fact, that's a great APY for a single stake pool, but I can do better in the current circumstances.
So I withdraw all $FTM from the $FTM pool.
"...but I can do better, given the current circumstances."
Okay, geophf: how can you do better?
- The $sFTMX burn on @staderlabs gets me, historically 50-100%+ APR.
- $FTM perpetuals on @UniDexFinance get me 1000%+ APR, at, of course, a much higher level of risk for return.
I do place a $FTM short, fortunately, as the $FTM-price continues to fall.
I also place a $FTM long and redistribute funds to various points, in anticipation of a wild ride, $FTM-wise.
And, one of the perpetuals pops: my $LINK-long one.
2023-05-12 entry: 400 $USDC, $6.43-per
2023-05-14 exit: 453 $USDC, $6.6-per
ROI: 13.37%, annualized to 1.6k% APR
I have a $LINK-long around this price-point-...ish, but not a $LINK-short, so I place one now.
2023-05-14 entry: 400 $USDC, $6.6-per
So, with the perpetuals-work behind me, I can now do the $sFTMX arbitrage.
So, @beethoven_x promised a 13.1k $sFTMX swap, but only delivered 12.5K $sFTMX, reducing a 278% APR down to 37% APR in one fell blow.
To say that I am displeased is understating it by 250%.
Terrible!
"Yeah, we're @beethoven_x, and we say we're going to swap to 13.1k $sFTMX, but, AFTER THE SWAP, we're only going to give you 12.5k $sFTMX, SHORTING YOU by 583.8570597 $sFTMX of what we said we were going to give you"???
@beethoven_x: what do you have to say for yourselves?
So, instead of swapping to $sFTMX with high slippage, I pay down my $FTM-borrow on @GranaryFinance, freeing up (eventually) $sFTMX that way.
Eventually, the entire borrow will be paid off that way, THEN we'll see if $sFTMX arbitrage is viable.
Back to perpetuals: my $FTM long hit. Entered: today; exited: today.
283 $FTM gain, ROI: 23%, annualized to 34k% APR
I told you the perpetuals were the stronger play.
I have a $FTM long at this price-point, but I don't have a short here, so I start one now.
2023-05-15 entry: 400 $USDC, $0.3896-per
My @FantomFDN portfolio settles thusly:
Daily Fantom Blockchain position report, 2023-05-15
invested: $29,341.73
valuation: $21,669.09
ROI: -26.15%
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