Blockaverse report, 2024-09-20

Blockaverse report, 2024-09-20 

invested: $125,152.22 

TVL $74,365.64 

gain/loss -$50,786.58 

ROI -40.58% 

Blockaverse report, 2024-09-18

Blockaverse report, 2024-09-18 

invested: $125,152.22 

TVL $71,112.39 

gain/loss -$54,039.83 

ROI -43.18% 

Blockaverse report, 2024-09-17

Blockaverse report, 2024-09-17 

invested: $125,152.22, TVL $71,570.44 

gain/loss -$53,581.77, ROI -42.81% 

Announcement: removing liquidity from Kujira

Announcement.

I am destaking and removing all liquidity from @TeamKujira. I'm now no longer using that blockchain nor its assets in trading and arbitrage. Same for @cosmos $ATOM.

Kujira was supposed to be 'grown-up defi,' learning its lessons from the @terra_money-crash.

It's ironic, then, that $LUNA, and associated assets, have faired much better than $KUJI, $ATOM, and $OSMO these past few months.

Not a funny irony: a sad irony, and a painful one.

"Rugged by Kujira" was not on my crypto bingo card, but nor was rugged by Terra, rugged by Harmony, and rugged by Fantom.

Am I bitter? No. I am resolved. I'm going to make it, and I'm going to prove I'm going to make it, despite these crashes, unfortunate, imprudent, or no.

Erudite asks:

"Not excited about the migration?"

Fair question.

No. I am not excited by the migration. Every migration has cost me more than 95% of my investiture.

I am now focusing on blockchains and assets that have proved they can weather the storms: top-15 by market cap. They'll go down, sure, but they come back up.

I've yet to see a migration from any of these alt-chains that have provided a solid business-case of their utility, nor have provided a reason to place my trust into them.

"We screwed up, but we're in a new sitch, so you lost all your liquidity, but give us more because NEW!"

Under my own value-metric, 'new' is not a value-contributor, but a value-inhibitor. A token of value has history and durability. A migration does not prove either. Time does.

I'll give the new-Kujira (and new-everything else), time to gestate AND mature.

Then I'll evaluate them.

Prevailing Winds

I met Paul Graham at the LLC (little languages conference) at MIT in 200x. The founder of Ruby was giving a talk where he said "Common LISP is too hard. Procedural Macros are too hard! Ruby is easy."

Paul turned to me and said: "I build most of my company on Procedural Macros."

What I interpreted Paul to be saying was: "Don't follow the prevailing winds, unless you want prevailing (middling) results. Forge your own way. You'll get rewards, then, only you can get." He's saying that in "Founder Mode," too.

I've taken that advice to heart.