Let's go around the blockchains, yield-farmin', and stuff.
Terra (Classic)
The first place we land is @mirror_protocol,
... but at 8.9 $MIR/58 $UST, we're not yield farming $1.80, no ser!
I have a rule:
Rule #1: collect yields greater than $10, otherwise move on and come back the next day.
Kujira
Next, @TeamKujira.
I stop by ORCA: absolutely nothing has been happening here for more than a week.
The price of $KUJI on FIN reflect this stagnation.
Nothing to collect from BLUE, either.
@TeamKujira needs a much better $USK minting model. Don't charge the investor, please!
Harmony
Next: Harmony blockchain.
Fuzz
First, @FuzzFinance
And HOLY FVCK! the price-drop of $FUZZ made me sick to my stomach. G-d!
Let's collect the yields, convert them to $ONE, then have a think about what to do about this protocol, because it surely ain't.
Let's take a step back and take a hard look at @FuzzFinance.
- The APYs are ... good at ~100% at the highest, but that's a far cry from the 1000+% APY it lured my money in with.
- The valuation sucks. I came in with $1.5k, and it's now worth $1.3k
Here's where it gets interesting.
- The valuation is restored by the $236 in yields I've collected so far.
Here's where it gets uninteresting:
- I'm not interested in losing principal, and I'm not interested in a net-0 yield-vs-principal trade-off.
Consequently, I'm calling it on @FuzzFinance. I'm liquidating my LPs there and returning the funds to Avalanche.
$FUZZ may, someday, sky, perhaps when liquid staking is instituted and gets its own stride, but until then, I'm not watching my principle disappear with its price.
I split the LPs into their component parts then swap everything to $ONE on @FuzzFinance
- I swap the $ONE to $JEWEL on @DefiKingdoms (whilst I still can)
- then I bridge the $JEWEL to Avalanche using @MultichainOrg
Note: there's a bit of a fee, as I'm bridging so much $JEWEL.
Then I swap the $JEWEL to $AVAX on @pangolindex.
I had to do 2 swaps to minimize the slippage.
The total swap came to 63.15.
The $AVAX I earned from $FUZZ-yields was 15.58.
Totalling 78.73 $AVAX.
My self-loan was 80.787, so I've lost: 2.14 $AVAX in this experiment?
Nupe!
You're forgetting (or, more accurately: I forgot) that I have 10,001 $ONE being unstaked.
That'll convert to more than 2.14 $AVAX. In fact, at today's prices, that converts to ~11.13 $AVAX.
So, I'm walking away from my @FuzzFinance experiment with ~9 $AVAX gained.
NOICE!
Okay, that was just one protocol of just one blockchain that took all day.
Ridiculous.
Unite.fi
"Fortunately," ... there's nothing to do on @finance_unite, today, the other protocol on Harmony, as yields are (way) less than $10.
DFK Chain
Next up, DFK Chain.
Moving on.
Osmosis
Osmosis blockchain on Cosmos.
The superfluid LPs release $OSMO automatically, I don't have to collect them, so: yay!
Avalanche
Oft to Avalanche!
Trader Joe
There's nothing to collect from the sAVAX-AVAX LP on @traderjoe_xyz, ... yet.
It's underwhelming as compared to the QI-AVAX LP on @BenqiFinance, but:
* the QI-AVAX LP lost $5k of principal
* the sAVAX-AVAX LP has gained $1k in value.
I'll take that. 😎😅
Benqi
I go to @BenqiFinance, where I collect the $QI- and $AVAX-yields.
I immediately swap the $QI to $sAVAX on @pangolindex.
Why? So I can stake the sAVAX-AVAX LP on @traderjoe_xyz
Staking sAVAX-AVAX LP on @traderjoe_xyz harvests the $QI- and $JOE-yields from that LP (I have prior stake).
I immediately stake the $JOE as $sJOE, as it yields $USDC at 5+%.
Back to Benqi
Now, the $QI, I split 50/50.
- 50% I SWAP to $sAVAX on @pangolindex
- 50% I SUPPLY to @BenqiFinance marketplace.
Self-Loan-...ing
This leaves me ready to interact with @BenqiFinance marketplace.
BUT HOW? WHAT? WHY? HOO?
HOO EEZ MEH! AHA! 😎
This is where the Pre-supply stable coin borrow worksheet (PSSCBW) comes in
It tells me what to invest, where.
... and what the PSSCBW told me was to pre-supply stables with some $AVAX, so:
- I SWAP $AVAX for $USCD.e on @traderjoe_xyz
- I SWAP that to $DAI.e on @CurveFinance, as $DAI.e has the best collateralization on @BenqiFinance
- then I SUPPLY that $DAI.e to @BenqiFinance
That leaves the remaining $AVAX.
- I SWAP $AVAX to $sAVAX on @traderjoe_xyz, which has the best swap-rate for $sAVAX
- then I SUPPLY that $sAVAX to @BenqiFinance
So! Time to borrow.
Let's borrow some $DAI.e. Not the best borrow rate,
... but I've got a lot of supply, so I'm leaning to maintain δneutrality on my stable coins.
