2023-09-16 ETHBTC-THANG! Day 111

Let's do the ETHBTC-THANG!

Before we do the ETHBTC-THANG! recall that I sent 9.31 $ATOM to @coinbase for to provide liquidity to @Cardano.

Finally, the $ATOM sell-order hit, so I place an $ADA buy order with that liquidity.

Note that I SOLD $ATOM high, and I'm BUYING $ADA low.

 Then I collect the $BTC and $ETH prices from @osmosiszone. n.b.: it took a while to collect the $ETH price from @osmosiszone as I kept getting 'Error.'

That's not encouraging. I thought @osmosiszone was supposed to be making things better, but the price feeds failing is WORSE.

Dear @Indigo_protocol,

$INDY is falling in value both against $ADA and $USDC. Do you care to comment how you plan to create a purpose for and how to instill value into your protocol token? Because staking it to inflate the number of $INDY tokens DEFLATES its value.

love, geophf

Let's be clear here, folks.

A protocol with this value-chart does 1 thing:

1. punishes stakers. The earlier you stake, the harsher the punishment as you watch your value disappear.
2. rewards (short) sellers.

This chart ENCOURAGES protocol token value to plummet.

Avoid this.

Dear @Levana_protocol,

I'm unable to place a 3x long against $ETH on your protocol. I get the following message --v

When will I be able to place this long? It'd be nice if 'now' were the answer, as I need to hedge a several-hop $BTC -> $ETH swap I'm executing.

love, geophf 

... and now $USDC deposit limit is reached on @NolusProtocol 

Dear @NolusProtocol,

wen $USDC deposit cap raised?

love, geophf

2023-09-16 ETHBTC-THANG! Day 111

The ETHBTC-THANG! 

• swap 0.00634 $BTC

After swap:

ETH: 5.00199 BTC: 0.0428

Total: $9,252.90 TVL EMA-20: $9,155.13

n.b.: TVL EMA-20 indicates that ETHBTC, itself, is overvalued.

ROI: 4.63% APR: 15.23%