2023-09-22 ETHBTC-THANG! Day 117

Okay, we're now at the ETHBTC-THANG!

I record the $BTC and $ETH prices from @osmosiszone into my SPREADSHEETSZORXEN! It says 'swap $BTC for $ETH.'

The thing is: I've exhausted my $BTC-reserves in Ghost.

Wat do?

1. Do no swap today OR
2. 'manifest' 0.099 $ETH, ... somehow.

One approach is to leverage my stockpiled $ETH, long it, and hope the price goes up, or short it, and hope the price goes down.

The problem with this approach is that I'm exposing my principal to the risk. Let's put this thought on hold for a mo'. 

Another approach is the 無 arb.

The 無 arb does not expose principal to risk.

無 arb HOWTO.

I mint 900 $USK from 1.9 $ETH, then I turn right around an borrow 370 $KUJI, using the 900 $USK as collateral.

I place 370 $KUJI for sale on the KUJI/ATOM @TeamKujira FIN board, and we are in business, ladies and gentles.

I record all my trades on the trades-page.

So the 無 arbs are great price-protected arbs.

But $ETH is at ~$1590-per. What if $ETH goes up?

I take the remaining 0.8 $ETH, bridge it to @osmosiszone via @squidrouter, and set a 4x LONG on @levana.

I already have an $ETH short in place, so I'm hedged, either way.

P.s. and please always hedge your trades.

Hedging, some thoughts (in a very different context).

MWA-HAHAHA! 😈

My 'take profit'-price HIT on my 4x $ETH long an up-spike. @Levana_protocol automatically closed the perpetual to me, returning 0.8 $ETH on my 0.79 entry.

AND $ETH has a downswing now, so I'm also profiting on my 3x $ETH short there AND my supplied $ETH liquidity

2023-09-22 ETHBTC-THANG! Day 117

The ETHBTC-THANG! 

• swap 0.00973 $BTC

After swap:

ETH: 5.58730 BTC: 0.0112

Total: $9,190.78 TVL EMA-20: $9,183.78

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

ROI: 1.54% APR: 4.80%

Okay, whilst awaiting the 無 arb to pop or for the $ETH price to change (up or down, idc: I have both long and short positions), I'm OFT! to grab some lunch.

Y'all take care of y'selves, ya hear? That's an order! 😤

love, your dad, el geophf

2023-09-11 ETHBTC-THANG! Day 106

I get around to the $wETH catch-all. I record that into my SPREADSHEETSZORXEN!

Now we're ready for some ETHBTC-THANG!...age! 

Dear @osmosiszone.

This is very worrisome. I go to swap $ETH for $USDC and your swap says 'Error.' 

It also says this for $BTC.

I thought @osmosiszone was supposed to be 'the' swap for @cosmos.

Any recommendation for a reliable $BTC-to-$ETH swap on this chain? 

I checked @Shade_Protocol swap, 

...but $4,000 SLIPPAGE for 1 $wBTC is simply unacceptable.

Even slippage for 0.05 $wBTC is $30 on $1,257 or ~3%.

@Shade_Protocol It would be foolish for me to use your swap for the ETHBTC-THANG! until you make ETH-and-BTC-swaps competitive.

But I do have a lovely alternative solution to my problem.

@astroport_fi is selling $BTC at 17¢-per, 

so ... I could buy 100,000 of these $BTC on @astroport_fi and live in luxury on an island I just purchased.

@TheRyanReynolds bought Wrexham football.

I think I'll buy Iceland.

And @tfm_com has neither $wBTC nor $wETH available to swap, neither on @TeamKujira nor on @axelarcore.

Who uses @tfm_com and likes it? What do you use it for? 

Now, eventually, I do do the BTC/ETH swap on @osmosiszone, but here's a @cosmos chain swap hack.

1. Go to @NolusProtocol 
2. lease 0.1457 $ETH using 0.0036 $BTC
3. IMMEDIATELY pay-off the lease with 0.0054 $BTC

You see that the lease-payoff scheme is equivalent to a swap, yes? 

Let's finish what we started yesterday, ... TODAY!

Why? Well, because I fell asleep, mid-ETHBTC-ing. Got a lot done last night so let's cover that and close yesterday's work. 

I did get a viable set of price-quotes from @osmosiszone for $ETH and $BTC, despite numerous errors.

2023-09-11 ETHBTC-THANG! Day 106

The ETHBTC-THANG! 

• swap 0.00904 $BTC

After swap:

ETH: 4.58101 BTC: 0.0662

Total: $8,726.02 TVL EMA-20: $9,179.95

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

ROI: 4.62% APR: 15.90%

Unlike most days (recently), this is a trench warfare day for ETHBTC-THANG! with the firefight coming in hot. You'll notice today:

1. the ETHBTC-ratio has dropped, no: PLUMMETED, making the BTC-to-ETH-swap DELISH! 😋

2. ETHBTC, itself, is on sale!

3. I capture my ETH catch-all.

So, since $ETH is on sale,

• I withdraw $BTC from @TeamKujira Ghost

• I transfer the $BTC to @osmosiszone via Satellite

• I swap $BTC to $ETH on @osmosiszone 

• I transfer the $ETH back to @TeamKujira via IBC.

For buying into ETHBTC, I take the $ATOM catch-all buys from yesterday, AND enough additional $ATOM I buy at current (slightly lower) prices, and transfer that to my @coinbase wallet.

I put the $ATOM up for sale to (eventually) move that liquidity to @Cardano. 

Back on @TeamKujira, I take the $ETH (both 'caught-all'd and swapped from $BTC), mint $USK, and do a 無 $wETH arb with that $USK.

The. END.