Liquidations
DOT
The FRIST! liquidation on @TeamKujira ORCA.
9.4 $DOT for 38.9 $USK, 21% premium
discount quote: $4.14, market price: $6.14
I sell back 7.9 $DOT on Manta, recouping the collateral + 8 $USK, and deposit the remaining 1.4 $DOT on Ghost.
WOOT!
I close my $STARS minting position and rebid for liquidated $DOT.
I think, eventually, I'm going to focus on a few bags, only, instead of whatever liquidations I receive.
KUJI
I claim liquidated $KUJI with $USK, YAY!
That was a good price, ... at the time, but with $KUJI now $1.67-per, I bought liquidated $KUJI at 200% its current price, which, they say, is no bueno.
$KUJI's not a good liquidation lever, so I cancel these bids.
I withdraw the $KUJI from @TeamKujira Ghost,
... with the eye of moving it all to my MENSA addy for pivot arbitrage, as arbitrating $KUJI with a pivot is much more profitable for me.
A bright light shineth, as a bid with $xPAXG.grv got me $KUJI at a 20% premium, or $KUJI at $1.08-per against a market price of $1.67.
Not much $KUJI, but that's okay, because the $PAXG.grv grew by Ghost's lending rate (the 'x-factor').
ROI: 24.13%; 187.42% APR
I turn right back around and swap that $KUJI back to PAXG.grv on Manta, ... essentially, this becomes an arb of $PAXG.grv
0.009 -> 0.0144 $PAXG.grv
... using liquidated $KUJI on ORCA as the pivot.
ROI: 50%, thankyousoverymuch. 😎🎉🎉🎉
LUNA
Okay, $LUNA. I claim liquidated $LUNA from $USK, however, at twice (today's) market price. Ugh.
9.7 $LUNA for 8.9 $USK, 'discount' price 92¢,
market price 54.6¢
ROI: -41.94%; -325.73% APR
I'd be sad, paying double-price for $LUNA, but ...
BUT! I claimed 114 $KUJI from 308 $xLUNA, this gives a discounted price for $KUJI to be $1.53 which is better than the market price of $1.67.
ROI: 8.05%; 52.48% APR
So! A gain arbitrating $KUJI with $xLUNA via ORCA liquidation bids.
Cool!
I also claim 50+ $LUNA from 30 $xUSDC.axl on @TeamKujira ORCA.
14% premium, 'discounted' quote: 63¢, market price 54.6¢
ROI: -14.04%; -63.26% APR
Still pricey. ☹️
MNTA
Next, $MNTA. I bid on liquidated $MNTA with $xUSDC.axl, and I got it, all right!
'discounted' quote: 70¢, market price: 31.8¢,
4% premium.
ROI: -55.42%; -430.41% APR
Bidding on liquidations with stables doesn't work out so well when volatile tokens are in free-fall. 🙄
I also withdraw my $MNTA from Ghost.
There's nothing to bid $xMNTA with on ORCA, anyway, and I'm better at arbitrating $MNTA on my MENSA addy with a pivot.
STARS
Meh.
Even a 27% premium did not protect my bid from the $STARS price-plummet.
Which is hilarious, as my $100 $STARS minting position wasn't liquidated, but my $1,500 $DOT minting position was.
Ouch.
I lend ALLES teh $STARS to @TeamKujira Ghost, then bid $USK with that lent $STARS.
So, when $STARS go back up, I'm rich, OR when a liquidation occurs, I'll get $USK at ~30% premium.
Either way: cool beans! 😊
PAXG
I turn right back around and swap that $KUJI back to PAXG.grv on Manta, ... essentially, this becomes an arb of $PAXG.grv
0.009 -> 0.0144 $PAXG.grv
... using liquidated $KUJI on ORCA as the pivot.
ROI: 50%, thankyousoverymuch. 😎🎉🎉🎉
Then I do all the $PAXG.grv things on @TeamKujira ORCA and Ghost: claiming liquidated $PAXG.grv on ORCA, lending it on Ghost, then bidding on liquidated $KUJI with that lent $PAXG.grv.
Oh, and #PSA: remember to activate your bids on @TeamKujira ORCA, as they no longer automatically activate, no matter if you select "automatically activate my bids with Sea Shanty" or not.
They just don't. So: activate your bids, or you get nothing, ever! 😤
ATOM
Not good news.
4 $ATOM from 45 $USK with the market price of $ATOM being $8-per now. Ick.
Fortunately, the market is cleared up to 9%, but we are no longer in alt-crypto Spring anymore, it appears. ☹️
ROI: -20.92%; -144.10% APR
OTOH, I do bid for liquidated $stATOM with $xKUJI,
... a 30% premium for 7.5 $stATOM? Sure. Why not!
Another meh-liquidation-claim of $ATOM from an $xUSDC.axl bid on @TeamKujira ORCA.
ROI: -6.90%; -30.71% APR
People are just too reckless with their $USK minting positions and they get liquidated at the slightest breeze in the air.
This is no good for me if the price plummets.
More $(st)ATOM; more meh.
3.2 $stATOM for 46 $USK, 'discount' price $13-per, but market price is $11.18, 3% premium.
Again, the premiums are now cleared up to 10%, but little did that help me with this liquidation fulfillment.
ROI: -17.48%; -120.38% APR
ORCA was supposed to be the market-downturn-protection-tool, making money when the markets tank.
This 🧵is showing the opposite: that during a bad bear, I can lose money on fulfilled liquidations.
Not stunningly happy with this news.
I'm taking a hard look at my ORCA-strategy.
Bed-time!
Okay, folks! I'm not done with the @TeamKujira ORCA liquidations: I still have more than several fulfilled liquidations to claim, BUT! It's time for this guy to fly to my beddy-bye!
BYE! 😴
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