Mirror Protocol: where to invest, pop-answer

Answer to the pop-quiz that asked where to apportion liquidity on the Mirror protocol.

As @Ki_wei0x pointed out, @mirror_protocol domain went bye-bye.

so, the correct answer, for me, anyway, is to withdraw all liquidity from @mirror_protocol. 

Cryptocurrency cost/benefit analysis pop-quiz

#cryptocurrency cost/benefit analysis pop-quiz!

On @mirror_protocol, I'm HODL'n 2 $mFB to close my $mFB short farm, which, when the collateral is freed, will be used to buy $mGOOGL to close that short farm.

@mirror_protocol loses their domain today

What do? What are the costs?

2022-10-25 Mirror Protocol report

2022-10-25 @mirror_protocol report

incept date: 2022-09-30

Invested: 26301.59 $UST

Mirror valuation: 25548.38 $UST ($953.31)

Accumulated yields: 333.06 $MIR

yield/day (avg): 13.32 $MIR ($2.52)

$MIR quote: 5.07 $UST

$UST quote: 0.0373 $USDC

net APY: 93.73%

net APR: 51.92% 

Pop-quiz: apportioning liquidity for Mirror LP yield farms

#Cryptocurrency pop-quiz:

Thanks to the @Bybit_Official bridge, I have 2,900 $UST to invest into @mirror_protocol LP farms.

Given:

$mVIXY LP: 197.65% APY
$mHOOD LP: 152.81% APY

How much would YOU invest into each farm to apportion out your 2,900 $UST? Show your work.

• answer is a plot twist!

Daily cryptocurrency income report, 2022-10-24

Daily #cryptocurrency income report, 2022-10-24: $58.29*

Mirror, Mirror, on the Terra,

Gives me $MIR-yields quite fairlà

... okay, so I WON't quit my day-job. 🙄

*doesn't include auto-restaked yields nor s- nor x-token gains.

2022-10-21 Mirror Protocol report

2022-10-21 @mirror_protocol report

incept date: 2022-09-30
Invested: 22327.13 $UST
Mirror valuation: 21531.50 $UST ($848.43)

Accumulated yields: 317.14 $MIR
yield/day (avg): 15.10 $MIR ($3.11)

$MIR quote: 5.22 $UST

$UST quote: 0.0394 $USDC

net APY: 128.87%
net APR: 66.94%

Analysis

Dear @mirror_protocol,

Don't change. Always be the beautiful you that you are.

Love, geophf

p.s.: I'm starting phase one of a self-loan yield-farming experiment. Let's bring yields-per-day to $10. How long will that take to accomplish?

2022-10-20 Mirror protocol report

2022-10-20 @mirror_protocol report

incept date: 2022-09-30
Invested: 22327.13 $UST
Mirror valuation: 21531.50 $UST (848.43)

Accumulated yields: 297.94 $MIR
yield/day (avg): 14.90 $MIR (3.03)

$MIR quote: 5.17 $UST

$UST quote: 0.0394 $USDC

net APY: 125.91%
net APR: 60.87% 

Analysis

Dis gud. Yield farms are 'muted' at below 200%, but, okay, so they're muted. There're still multiple farms above 150%, and this is a real 150%, ...

... so I'll be investing a small amount ($100) and seeing how long it will take me to make it back. I'll be reporting on this daily with this report.

2022-10-19 Mirror Protocol report

2022-10-19 @mirror_protocol report

incept date: 2022-09-30
Invested: 22327.13 $UST
Mirror valuation: 21531.50 $UST (780.73)

Accumulated yields: 284.82 $MIR
yield/day (avg): 14.99 $MIR (3.11)

$MIR quote: 5.72 $UST

$UST quote: 0.0363 $USDC

net APY: 140.18%
net APR: 71.72%

Analysis

Dis report: me likey!

There are also good yield-farming opportunities; 

I'm eyeing gold $mIAU 

HOWTO

2022-10-18 Mirror Protocol report

2022-10-18 @mirror_protocol report

incept date: 2022-09-30
Invested: 22327.13 $UST
Mirror valuation: 21531.50 $UST (827.69)

Accumulated yields: 267.86 $MIR
yield/day (avg): 14.88 $MIR (3.09)

$MIR quote: 5.41 $UST

$UST quote: 0.0384 $USDC

net APY: 131.61%
net APR: 59.35%

Analysis

Dear @mirror_protocol,

Keep doing this. Forever, if you please, or, for at least the next 500 years.

Keep this level, sure, but you can even up the APY if you'd like.

love, geophf

2022-10-17 Mirror protocol report

2022-10-17 @mirror_protocol report

incept date: 2022-09-30
Invested: 22327.13 $UST
Mirror valuation: 21531.50 $UST ($862.90)

Accumulated yields: 250.00 $MIR
yield/day (avg): 14.71 $MIR ($3.11)

$MIR quote: 5.28 $UST

$UST quote: 0.0401 $USDC

net APY: 126.94%
net APR: 50.42%

Analysis

APY above 100% and $MIR price trend positive now: these are buenos.

Valuation of the portfolio is down: this is no bueno.

2022-10-16 Mirror protocol report

2022-10-16 @mirror_protocol report

incept date: 2022-09-30
Invested: 22327.13 $UST
Mirror valuation: 21531.50 $UST (943.36)

Accumulated yields: 229.30 $MIR
yield/day (avg): 14.33 $MIR (3.10)

$MIR quote: 4.94 $UST
$UST quote: 0.0438 $USDC

net APY: 115.74%
net APR: 34.44%

Analysis

$MIR-price up, portfolio value: down, ... how? ... why? Oh, it's because $UST isn't $1.00, so it's not pegged to anything. Analysis still stands: interchain (not interCEX) bridging needs to work, first, before this protocol has any value.

2022-10-15 Mirror protocol report

2022-10-15 @mirror_protocol report

incept date: 2022-09-30
Invested: 22327.13 $UST
Mirror valuation: 21531.50 $UST ($1,030.97)

Accumulated yields: 214.61 $MIR
yield/day (avg): 14.31 $MIR ($3.06)

$MIR quote: 4.47 $UST

$UST quote: 0.0479 $USDC

net APY: 104.55%
net APR: 17.84%

Analysis

Terra classic bridge wormhole, being closed any time that I check, night or day, says it all: this investment is worthless until I can transfer liquidity to and from it off-chain

STILL waiting on @anchor_protocol BORROW reopening along with @mirror_protocol short farms

Daily Mirror protocol report, 2022-10-13

Daily @mirror_protocol report, 2022-10-13

incept date: 2022-09-30

Invested: 22327.13 $UST
Mirror valuation: 21531.50 $UST (1,081.27)

Accumulated yields: 178.49 $MIR
yield/day (avg): 13.73 $MIR (2.83)

$MIR quote: 4.11 $UST
$UST quote: 0.05 $USDC

net APY: 92.25%
net APR: -7.80%

Analysis

What does this report mean?

At its surface, @mirror_protocol is doing a bit better today, however, things aren't looking good on the horizon. 

LP farms that were upwards of 400% and 600%, even, are now beat down to 150% max. These are meh-numbers for a high-risk investment.

Daily Mirror Protocol report, 2022-10-12

Daily @mirror_protocol report, 2022-10-12

incept date: 2022-09-30

Invested: 22327.1 $UST

Mirror valuation: 21531.5 $UST ($1,016.80)

Accumulated yields: 157.77 $MIR

yield/day (average): 13.15 $MIR ($2.82)

$MIR: 4.54 $UST

$UST: $0.047224

net APY: 97.58%

net APR: -10.81%

Analysis

You see that valuation? ~$1k? That's from $LUNC I swapped to fund @mirror_protocol; $LUNC I bought for $100 right after the crash.

A 10x bagger.

I should be happy, and I am, ... but I'm not.

$MIR's price and $UST's seem inverted: so $MIR going back up means nothing.

Converting the values to their 'real-World'-counterparts does provide clarity:

$2.8 yield/day on $1k invested is ~90% APY

I should be happy, and I am, ... but I'm not.

The advertised APYs are all above 100%, 

... so my portfolio should be doing better, 4x better, but it's not.

Reading this, you may be thinking I'm just a mean ol' grumpy-pants, and I am, ...

But: 

• it's 90% real yields, on a $1000 'free' dollars given to me on a smart call, post-crash. That's VERRA nice! 
• It's @mirror_protocol doing what it does, so well.

For what I have, I am grateful.