2023-09-17 ETHBTC-THANG! Day 112

Set's do the ETHBTC-THANG! now, see what falls out, then, maybe set up an $wETH δneutral position on @Levana_protocol.

I record the prices for $ETH and $BTC from @osmosiszone onto my SPREADSHEETSZORXEN! 

2023-09-17 ETHBTC-THANG! Day 112

The ETHBTC-THANG! 

• swap 0.00574 $BTC

After swap:

ETH: 5.09511 BTC: 0.0371

Total: $9,282.21 TVL EMA-20: $9,164.60

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

ROI: 4.64% APR: 15.12%

So, I pull 0.00574 $wBTC from Ghost, sell it for the highest price (which is on the wBTC/axlUSDC board).

I want to buy $wETH for the lowest price. That's on the wETH/KUJI board. So, I want to buy $KUJI for the lowest price which is on the KUJI/ATOM board.

See how this works?

Where is the lowest priced $ATOM?

It's on the ATOM/USK board.

I have $axlUSDC.

So, I place a sale with that $axlUSDC for $USK on the axlUSDC/USK board, and, thus: we have have our trade-path, given current market conditions:

wBTC -> axlUSDC -> USK -> ATOM -> KUJI -> wETH

You do see all those possible trade paths just to get from $wBTC to $wETH on @TeamKujira FIN. Allowing for cycles, just that graph allows for infinite paths, and that's under current market conditions.

Those conditions change, we have a whole new set of paths to consider!

Am I scaring some folks? Are some folks looking at this and saying: "Only pros can handle this 💩!"?

Yes, and yes. Is it true? Eh, sure? But, remember: I started with $0 liquidity and learned all this stuff by hand, youtube, and gumption.

You can, too. Just try something smol.

Know this: a $156 is a nice, smol trade, and the fees on @TeamKujira are hella smol.

AND: mastery of ETHBTC is foundational. All the rest of crypto can go away, but if you know ETHBTC, you can still progress.

THAT, my frenz, is why I focus on this, because it's foundational.

Dear @NolusProtocol,

I have 318 $USDC deposited in Earn. I tried to deposit 100 $USDC, to form an $ETH δneutral position, but I'm told 'supply limit reached.'

no bueno.

Can the supply limit for $USDC be raised? Or allow other (than $NLS) deposits?

δneutral doesn't work now.

Update: my 100 $USDC deposit request was just now accepted.

tx_id.

I'll remember to do my deposits, first, before I take a lease position, when I'm establishing future δneutral positions on Nolus.

Know this, also.

Protocols are ideas backed by smart contracts. That's what protocols reduce to.

You are smarter than smart contracts.

Mastery of the above limit-order trading style mades you the smarter-er-est contracts. You become your own protocol. 

Back to it.

I sold my $axlUSDC for $USK, so now I'm buying $ATOM for the:

ATOM -> KUJI -> wETH

part of the trade.

Note how $ATOM 📈 😱

And, in fact, I had to cancel my buy-order for $ATOM to rebid it, given how the price is 🚀

$ATOM price continues to 🚀 but I do capture enough ATOM to continue the trade.

Recall: the goal is $wBTC -> $wETH without rekt'n myself.

So, I place the $KUJI buy-order on KUJI/ATOM with that claimed $ATOM (including pulling some from @TeamKujira Ghost). 

... AND the KUJI/ATOM buy-order hits, so I then buy 0.093 $wETH with the claimed $KUJI.

This is all in service to yesterday's $BTC -> $ETH swap for the ETHBTC-THANG!

Let's, for comparison, see what @Manta_DAO would've done.

They would've done:

0.00574 $wBTC -> $KUJI -> 0.0924 $wETH

So, you'd've gotten LESS $wETH (as always) but a MUCH SIMPLER trading path, and that trade would've been instantaneous.

So: there's your trade-off.

The $wETH buy-order hits on wETH/KUJI, a board that I now love very much.

my cara spoza: WAT! 😤

me: ... nothing, ... dear ... 😅

I record the tx_id into my SPREADSHEETSZORXEN! to complete yesterday's BTC/ETH swap.