From the teacher of #DeFi101-lessons, @AirdropGlideapp, let's see how the $SILK-strategy plays out in practice.
First off, we need to grease the wheels. @Shade_Protocol runs on $SCRT, so I swap some $OSMO to $SCRT on @OsmosisFrontier and bridge that to @SecretNetwork.
But why borrow $SILK with my own $(st)OSMO, when I can borrow this inflationary token myself, given @TeamKujira allowing borrowing against $axlUSDC now?
Why, indeed!
- I borrow 220 $OSMO against 500 $axlUSDC from my Ghost Lend position
I bridge my borrowed $OSMO from @TeamKujira to @osmosiszone,
...and think about the $stOSMO stake, but then @l_woetzel, on the @SecretNetwork, recommends I check out the swap @Shade_Protocol.
So I do just that.
So, I bridge the $OSMO to @SecretNetwork, swap to $stOSMO on @Shade_Protocol, then stake the $SILK onto the SILK-CMST LP, paying $SHD at 63% APY.
It took 3 iterations to stake most the $SILK, due to slippage, but, tada! 🎉 we're cookin', with gas, $SILK (in a stable LP) on @Shade_Protocol, earning 63% APY.
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