Government proposition #29 on @Cardano @Indigo_protocol would raise the liquidation level from 110% to 150% for minting $iUSD from (staked) $ADA.
🚨🚨🚨 VOTING ENDS 2023-11-26 TOMORROW!🚨🚨🚨
STAKE YOUR $INDY AND VOTE!
Me? I'm a degen: I voted NO.
Why did I vote 'no'?
Here's what I've seen happen when parameters are readjusted with respect to liquidation:
- no matter how much lead time
- no matter how much warning
- no matter how diligently the protocol reaches out to minters
Liquidations WILL occur. Lots of them.
Since I 'know' liquidations are going to occur, I fund the holy-moly out of the $iUSD stability pool.
- I borrow 118 $AVAX from @BenqiFinance
- I swap-swap to $ADA on @coinbase
- I transfer that 7.1k $ADA to @Indigo_protocol
- I swap (NOT MINT!) $iUSD on @Indigo_protocol
I then stake my 2.9k $iUSD, anticipating the eventual liquidations that I 'know' are coming.
My staked positions on @Indigo_protocol are as follows.
I'll do a full report after I complete the ETHBTC-THANG!
Speaking of the ETHBTC-THANG!
I take the prices for $ETH and $BTC from @Levana_protocol and record them into my SPREADSHEETSZORXEN,
...which tells me swaps from $ADA either to $ETH or $BTC are currently advantageous.
2023-11-25 ETHBTC-THANG! Day 181
The ETHBTC-THANG!
- no swap; no EMA-ratio δ
ETH: 4.16172 BTC: 0.0034
Total: $8,788.17 TVL EMA-20:
n.b.: TVL EMA-20 indicates that ETHBTC, itself, is cruising!
ROI: 0.24% APR: 0.49%
2023-11-25 Indigo portfolio
invested: $4,465.58
$iBTC: 0.0139 $523.39
$iETH: 0.6645 $1,382.55
$iUSD: 2973.18217 $2,973.18
value: $4,879.12
total fees: $38.045
total yields: $201.786
net yields: $163.741
APY: 29.66%
ROI: 12.93%
APR: 39.00%
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