Terra: Mars

Let's do this @mars_protocol-thing.

So, I've already staked $MARS to $xMARS, ...

... and I've provided C2B $LUNA and $UST ('red bank').

But now they have this C2C max x2 strategy ('fields'), let's discover this together, shall we?

The idea of the 'fields' is that you have an LP that you create there (so you don't actually have the LP; you have the unpaired assets), which you can borrow $UST against. The LPs are leveraged (currently) 2x, so yields are much higher than in other hosting protocols.

All this is new to me, too, so, the way I learn is to put a little bit in, and, as this protocol entails borrowing, borrowing a safe, smol amount, then see what happens.

So, first up, let's populate each LP in turn. I'll anchor this exercise with $ANC.

$ANC is
a good one to start with, because this strategy has run out of $UST to lend, so, let's establish a straight-up LP and see what that gets us. 

Huh, and now they have resupplied the ANC loan-side. So, let's carry on, then!

First, select 'farm' for the ANC-UST strategy.

You're brought to a three-paneled page of newness. Let's deal with this one panel at a time.

First (top panel): select how much $ANC you wish to deposit into this strategy. Me, I'm depositing all the available $ANC.

Next (middle panel): slide the amount of $UST you wish to fund the strategy. Flush right means fully funded (no borrow). As you move the slider left, you borrow more $UST against the strategy. Note: the more you borrow, the higher the risk AND APY.

I'm borrowing 100 $UST.

The third panel gives you a summary: how much $ANC you deposited, how much $UST you funded it with, and how much $UST you're borrowing

$ANC + $UST funded + $UST borrowed = your strategy

It also gives your APY, leverage multiplier, and liquidation quote.

I select 'Farm'!

It gives you a 'transaction successful' message. Then you can return to the 'My Station'-tab, and see the strategies in which you participate.

Cool! Do this for $MIR and $LUNA and you have your algorithmic, decentralized money market up and running!

Daily Cryptocurrency Income Report, 2022-03-09

Daily #cryptocurrency income report for 2022-03-09: $928.85*

Today was a good day. I almost reached my goal of $1000/day in yields.

The goal after that: $1000/day in yields, average.

*does not include auto-restaked yields. 

HARMONY: "This is how I Defira"

Um. 

@Defiraverse yields: SEVEN HUNDRED THIRTY-ONE DOLLARS?!?!

Well, okay, then! 

So, first of all: hi, everybody.

Next: people have different strategies, including hedge, and different views on $sFIRA.

That's fine.

But I'm talking my strategy here, which is: lean into what works. It's extremely aggressive, and misses, too, but when it hits...

O
Boy!

So, what is my strategy with @Defiraverse, then?

1. Collect yields,
2. Farm yields in LPs and stakes (split evenly)
3. $sFIRA is more real than $FIRA for a yield-farmer like moiself. Stake 50% infinitely, unseal the other 50%.
4. Measure. Every. Day. (Spreadsheets! YAY!)

Some convert $FIRA to stables as a hedge.

That's fine.

Some view $sFIRA as valueless.

That's fine.

You do what works for you. I'm showing what I do, and what works for me. I did this in @DefiKingdoms and I'm up 1500% there. Still.

But you do you.

Back to it. We've collected the yields. Where to put them? Looking at farming, we see basically two tiers of LP yields:

1. Green: $FIRA & $TRANQ farms above 1000% 
2. Everything else (stables and blue-chips)

I concentrate on tier 1: more bang, and that what the yields are

So, okay, we have the farms where the yields will go. How will they go? My approach:

$TRANQ split three ways evenly on:

• FIRA-TRANQ LP  
• TRANQ-WONE LP (n.b.: we add 96 $ONE / $12 to our invested amount) 
• @tranquil_fi locked $TRANQ fees stake

Let's do that right now.

Why do I do $TRANQ first? Because it settles the $FIRA-balance. With the remainder of the $FIRA, I split it 50 / 50 between staking and the $FIRA - $WONE LP.

So $FIRA: feeding the $FIRA - $WONE LP means we infuse 656 $ONE / $85, which we add to our investment balance.

Okay, we've staked our $FIRA, right? Or: please remember to stake / farm the LPs (let's do that now), and collect the $sFIRA rewards from the (single) $FIRA stake, as well.

We've reinvested our $TRANQ and $FIRA, that leaves us with $sFIRA.

• First, claim the yields. 
• Then, evenly split $sFIRA between unsealing and staking.

This completes our distribution work.

Now let's run our reports! REPORTS! XCĪT!

Admit it: you love my reports. 😎

Asset Allocation for @Defiraverse, 2022-03-09:

• $FIRA stake is slowly coming into its own, like it should 
• $sFIRA stake is beginning to dominate, massively, like it should with this strategy 
• And the LPs provide the gas for this 'feeding frenzy'-fire, like they ought

• note on how I use the term 'feeding frenzy.' 

"Wen @Defiraverse self-funded, ser?"-experiment

Day 12

adjustment investment: $2,308.03

today's yields: $747.20

total yield: $1,604.58

Amount remaining to self-fund: $703.45

We've now fallen to ~$700 remaining of the (adjusted) $2300 investment.

TERRA: Mirror Delta Neutral Farming maintenance

Oh, don't mind me! I'm just collecting 77 $UST from a $mNKE short-sale unlock, is all.

@mirror_protocol: both passive, and, in this case, active generation of income.

The markets have seen a downturn, and that downturn has freed up 44 $aUST collateral across the @mirror_protocol board.

I created a spreadsheet which told me which mirrored assets were highest-yielding, and how much to invest in each.

Today I'm expanding $mNIO and $mMSFT.

So, okay. Let's start with $mNIO:

1. I added collateral to the @mirror_protocol short-position, increasing my SHORT to 5 $mNIO

2. I rolled in (*checks spreadsheet) 20 $UST to @SpecProtocol $mNIO-UST vault, increasing the $mNIO to 5, there, too: covering the short.

... and finish up with $mMSFT:

1. I added collateral to the @mirror_protocol $mMSFT short, increasing it to 0.37.

2. I rolled in ~20 UST to the @SpecProtocol $mMSFT-UST vault to cover the short.

Do you see what's going on here? Because of the market downturn and a short-sale I made 2 weeks ago, I'm MAKING MONEY, 120 $UST, in fact, on a market downturn.

@mirror_protocol makes me money on a market downturn. What other protocol does that?

Let that sink in.

But @mirror_protocol supremacy comes from that you make both passive income in yields, and active income in short-sales, case in point: I will be unlocking income in 2 weeks from the short-sales of $mNIO and $mMSFT because I expanded my positions in both these assets.

Whales and the Mirror Protocol: a case-study of self-determination

To be a Whale in #cryptocurrency doesn't mean you get your way. Case in point: a whale has floated two proposals on @mirror_protocol to lower collateral ratio to 110% for $mIAU and $mSLV: https://mirrorprotocol.app/#/gov 

Why? What is the angle here?

Gold and Silver are the most stable securities in the world. 

Shorting them is well-nigh guaranteed to be safe. And you make yields on shorted assets on @mirror_protocol.

Two advantages then:

1. yields 
2. capital preservation

If I'm a whale, and here's the material point: if I'm anybody, I want to put my investment with the highest return. With a 200% / 150% collateral bracket, for each $2 I put in, only $1 gets the (verra smol) yield. That must be so frustrating, given such a stable position!

So, I, this whale (n.b.: I'm not the whale, btw), put in proposals to rectify this issue. Let's adjust the collaterals down to reasonable levels. And the voters, to a T, agree, but then, what happens?

An even bigger whale, maybe Terra Labs, vetos them. Singlehandedly.

Further, look at the votes on the previous (vetoed) proposals. We, the community, OVERWHELMINGLY voted FOR these proposals.

https://mirrorprotocol.app/#/gov/poll/247

https://mirrorprotocol.app/#/gov/poll/248

It was one, and only one, vetoer that killed these proposal dead, with 4M $MIR. 

Guess.

Who.

What's happening here?

"Is @mirror_protocol decentralized?"

This is the question before us.

We have one whale voting in his self-interest, but fielding a proposal acceptable to the community that gets shut down by centralized control.

We're seeing how 'decentralization' plays out in real time,

Now, I'm not painting this whale as the 'Good Guy' and Terr- oops, the 4M $MIR-owner as the 'Bad Guy,' but I am addressing the question that affects me, and you, and the protocol, and Terra.

"Is @mirror_protocol decentralized?"

These very one-sided vetoes say: no.

Why is this a problem? For everyone?

Terra made a very public statement in its defense a US Gov't suit from the SEC stating it exercises NO control over @mirror_protocol: "@mirror_protocol is decentralized."

The US Gov't can now look at these vetoes and argue otherwise.

So, that's a problem for Terra, but it's a much bigger problem for us, the little guy, not the whale, for us.

Why?

What do our votes mean? We voted FOR. Almost to a person. Overwhelmingly.

The protocol's community voted FOR.

And was shut down.

That wasn't nice.

But if you know me, you know I don't do nice. I do what works, and what works, for me, is that if @mirror_protocol is decentralized, then ALLOW the community to chart the course of the protocol, whatever that course is.

Will we make mistakes? Yes, but how big a mistake is setting collateral for $mIAU and $mSLV? Enough of a mistake to shut down the vote? I don't think so. I think centralized interference is causing more harm than good, to all parties, in this case, and in most cases.

Here's my request, @terra_money. Let decentralization play out. We make a mistake with a vote? LET US make that mistake, and LET US correct it. The dangers of central intervention are clear, AND the disadvantages of decentralization are well-know.

So: let this play out.

Or, if you don't want the community to vote, nor have a say in the vote, stop pretending @mirror_protocol is decentralized, and just lay down the law. Masquerading 'decentralization' makes our votes meaningless and disempowers the community.

And isn't the vision of Terra self-determination via a decentralized currency?

@mirror_protocol is an experiment in self-determination. And this, right here, right now, is what that looks like.

HARMONY: VIPER Nests

Here is another example of a 'feeding frenzy' of yield-farms.

On @VenomDAO:

1. The $wsWAGMI nest produces $VIPER on https://viper.exchange/#/staking/single
2. Convert the $VIPER to $xVIPER on https://viper.exchange/#/staking/viperPit
3. Feed the $xVIPER to the nest that yields $wsWAGMI

Lather. Rinse. Repeat.

HARMONY: UNITE!

No, really: Harmony unite.fi. Let's talk.

So here's the 'something interesting' I hinted at yesterday: @finance_unite.

I invested $100 into $USHARE which I staked.

I got $1.59 in yield today, and most days, thereabouts.

That's 1.5% ... per day.

And we're not half-done here, folks.

So, here's the $UNITE - $ONE LP. I have $344 invested in that (adding a bit here and there over time), so that makes the yield a bit less that 1%

... per day.

... every day.

... since day 1.

And do you see the feeding frenzy of yields here? Let me explain.

How does the feeding frenzy work?

• I collect the $UNITE yield from the $USHARE stake
• I put the $UNITE yield into the $UNITE- $ONE LP
• that LP produces $USHARE

You with me?

• I stake the $USHARE yield from the LP.

The yield produces yield produces yield. 😍 🥰