Minting SILK on Shade Protocol

In the mode of @AirdropGlideapp. and inspired by Carter L. Woetzel's tweet about minting $SILK:

1. Bridge $stATOM to @Shade_Protocol (You may need to wrap it to $sstATOM. Sometimes you do; sometimes not)
2. Mint $SILK
3. Swap to $USK
4. Bridge $USK to @TeamKujira or LP on @Shade_Protocol

 You've 'minted' $USK at 0% on @Shade_Protocol

The next part of the article comes from First Class Crypto who asks on the twitterz: "But what am I going to earn and where?"

There are several ways to earn from both $SILK and $USK both on @Shade_Protocol and on @TeamKujira.

Let's go through some, one at a time.

First, you can deposit $SILK here.

You see here I've deposited 38 $SILK and am earning rewards.

Next, you can provide liquidity to $SILK LPs on @Shade_Protocol here.

Or, if you've already swapped it to $USK, you can provide liquidity to the SILK-USK LP.

All LPs allow asymmetric provisioning ('zapping') something that @TeamKujira BOW SORELY needs.

Now, $USK.

4 major places I use $USK on @TeamKujira.

1. Liquidation bids on ORCA

2. axlUSDC/USK arbs on FIN

3. axlUSDC-USK LP on BOW

4. lending $USK to Ghost.

Those are my biggies, but $USK is liquidity, so the possibilities are limited only to your imagination.

SILK-USK, new LP on Shade Protocol

@Shade_Protocol has a new pool under their swap-tab: SILK-USK LP, a stable-stable pool, which is currently incentivized at 52% APY!

The SILK-USK LP, staked on @Shade_Protocol, pays yields 50/50 in $SHD (their protocol token) and in $KUJI. 

Sweet!

As you can see above, you can stake by

• providing SILK-USK LP tokens OR
• by asymmetric provisioning ('zapping') $SILK or $USK tokens.

You mint $SILK-tokens by going to their borrow-tab and providing collateral, such as, e.g.: $stATOM or $axlUSDC, which I think is cool.

Which begs the question: I wonder when they are going to allow $USK as collateral to mint $SILK?

@Shade_Protocol: thoughts? 

HOWTO: Minting SILK for fun and profit

From the teacher of #DeFi101-lessons, @AirdropGlideapp, let's see how the $SILK-strategy plays out in practice.

$SILK-strategy.

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.

It turns out the swap is best on @Shade_Protocol! 

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.

Let's see how long it takes to pay back the $OSMO borrow from the yields here. See you in a year or few. 😎