CrystalVale Self-funding project

Okay, folks:

CRYSTALVALE

They've released their 4th farm, so: time to get serious and establish a self-funding project.

n.b. $CRYSTAL is ~$38 and I'm taking a loan. 

This risk is stupidly high. Stupidly.

So you can watch el geophf die.

A little poesy to start us off.

First things first. We MEASURE where we're at. For me, that's establishing CrystalVale as a position in my portfolio.

translation: SPREADSHEETS?!?!

mais bien sûr! (that is French)

Now I go to the BANK to collect the $xCRYSTAL airdrop, along with 2 Million other people.

$xCRYSTAL! I'm a $272aire on my first airdrop. SWEET! 🎉💯💯💯

And with one 1-second transaction, I made 6x more than I made all yesterday, BUT LOOK AT THAT TRANSACTION REPORT! 😍

Speaking of BANK...

Now is the time to start the self-funding project. I take a $1000.00 loan from @anchor_protocol and bridge that $UST to Harmony using the Terra bridge from @anchor_protocol. 

You can BET I'm recording this loan to myself against CrystalVale ledger.

While the money is transferring to Harmony, I'll make my "CrystalVale Self-Funding Experiment" ... SPREADSHEET.

Question: how to distribute the funds into the LPs?

Answer: the CrystalVale LP Distributor Thingie/CLDT(tm)(c)(r)!!

Which we have to make yet. Let's do that. 😅

The CLDT ...

works as follows:

1. ENTER the APYs of the farms (yellow)
2. CHECK that the pool rewards are the correct proportions
3. ENTER how much you're distributing into the farms

The CLDT then tells you the funds to disburse to each LP. SWEET!

BUT WAIT! THE NEW, IMPROVED CLDTenator 3500 NOW computes how much to allocate to each asset as outlays!

This new version, hot 'n fresh, is comin' atcha FO' FREE!

'cuz I'm just that kind o' guy. 😎 Awww! 🥰

So, now that we've got those calculations, let's 

• SWAP all the $UST to $JEWEL on Harmony, 

• BANK some of that $JEWEL (to make $xJEWEL babies: so, ... BANKING IS SMEX!) (you heard that first from meh), then 

• BRIDGE the $JEWEL and $xJEWEL to the DFK Chain.

We've $JEWEL'd up our DFK chain, so let's seed our farms as per our CLDT.

• the xJEWEL-JEWEL LP is the easiest, so we'll do this one ... FRIST!

(I like being FRIST!) 😎

(Mom is so proud right now, God rest her). 😢

Did I mention that I LOVE the transaction reports? 🥰

The other LPs require $CRYSTAL, so let's swap $JEWEL for that, then SWAP $JEWEL for the other assets, $USDC and $AVAX.

LOOK, MA! I'M BUYIn' $AVAX, ... 'n STUFF!

Then pair the assets as 'seeds' and stake the seeds in the garden. You know the drill by now, right?

Good.

CrystalVale Asset Allocation, 2022-04-03:

VERRA heavily biased toward xJEWEL-JEWEL LP, but that's by design. If CV reapportions CRYSTAL emissions to other farms, we'll have to revisit this allocation approach, but for now, I'm pleased. Let's see how this bears out.

Reflect Yield Distribution Thingie / RYDT

Reflectaverse @Reflectaverse self-funding project, 2022-04-02:

Let's dooo eet!

So, first, before anything, I MEASURE the yields from each LP and compute their efficacy.

Some people say 'ROI'; I say 'efficacy,' because I'm all cool, sayin' 'efficacy' like that. 

And I hear chicks dig that, so: ya. 😎

Efficacy measured 

A side-note here. The claim all-contract for @Reflectaverse is the cleanest of any I've ever seen. The cleanest. 

Okay, so I've collected the $ECHO yields. WAT DO?

Well, I have this handy-dandy little chart that ranks rf-LPs by APY, THAT's WAT DO! 😤

(... well, not WAT DO but WAT BE.) (You get me.)

So, then, my plan (the 'WAT DO'), since I like all these rf-Tokens, is to invest the yields into each of the rf-LPs, proportionate to their yields.

How can we so that?

Hm, ... with SPREADSHEETS, MAYBE?

Let's build the RYDT ('Reflect Yield Distribution Thingie')

How does the RYDT work?

RYDT

1. enter the current yields (yellow),
2. sort descending by the yields, 
3. enter the total yields claimed,

Then RYFT tells you how much $ECHO to swap to the rf-Token to increase your stakes, proportionately (pink).

Let's walk through an example using the $rfUST LP.

• SWAP $ECHO for $rfUST from the RYDT on @DefiKingdoms (set slippage to 12%)

• PAIR those two assets on @DefiKingdoms 

• STAKE the LP on @Reflectaverse 

• RECORD collected $ECHO yields

Lather.

Rinse.

Repeat.

Okay, you've paired all your rf-assets, and you have $ECHO leftover (because of the yields gained by staking the LPs).

• SWAP half the $ECHO for $ONE

• PAIR those two

• STAKE on @Reflectaverse 

• THEN SINGLE-STAKE yielded $ECHO

After all the allocations, the @Reflectaverse portfolio looks like this:

Pretty good balance, I'd say.

REFLECT DAO Self-funding experiment

Day 8:

target/loan: $620.00

todæg yields: $33.84

total yield: $83.13 (not bad, so far)

remaining until self-funded: $487.58

Steady on. Good to see the protocol beginning to cover the loan.

UNITE: Why UBOND is a steal right now

UNITE self-funding experiment, 2022-04-02

Day 7:

target/loan: $548.79

todæg yields: $2.78

total yield: $9.66

remaining to goal: $539.13

Hm. I don't know how to say 'you're missing out if you're not buying $UBOND now' without shilling @finance_unite, but there it is.

UNITE asset allocation, 2022-04-02

I like this layout-...ish? I think I'm going to regret not aping in for more $UBOND, but otherwise the balance looks good here.

Tombstone

Okay, let's talk about Tombstone protocols for a moment here, and why I think $UBOND is a steal right now.

Tombstone protocol started with Fantom $FTM when $FTM reached its maximum supply. WAT DO? So tombstoning ('Fantom'? 'tombstone'? GEDDIT?) resurrected the token.

How? By algorithmically pegging another token to $FTM. So: $FTM may not issue more tokens, but now you have twice the supply, both set to the same value of the token. You've doubled your reach of a what-was-thought-to-be a 'dead' token.

The same thing is happening in Harmony, now, and in other blockchains, too. $ONE is by no means 'dead,' but the tombstone protocol still works. You had one token, $ONE, and now you have another one, (in this case) $UNITE, that's pegged to $ONE, algorithmically.

So, 1 $UNITE is 1 $ONE. That's the peg.

What happens when 1 $UNITE > 1 $ONE? The boardroom issue more $UNITE to $USHARE stakers, returning $UNITE to peg.

What happens when 1 $UNITE < 1 $ONE? $UBOND goes for sale: you burn 1 $UNITE to buy 1 $UBOND, returning $UNITE to peg.

Arbitrage

So, that's the key: $UNITE is pegged to $ONE. So, when $UNITE is below peg, an arbitrage opportunity exists, no? 

Yes.

So, I buy $UNITE, a ton of it, wait for it to return to peg, and I've just printed money.

What, then, is my motivation to burn $UNITE to $UBOND, then?

That's the thing. 1 $UBOND is 1 $UNITE ... squared.

So, if an arbitrage opportunity exists for $UNITE right now (it does), then it exists for $UBOND ... squared.

When $UNITE returns to peg, then goes above peg to, say, 1.1 $ONE, I sell my $UBOND at $UNITE-price, squared.

Let's do the math.

I buy, say, 1867 $UBOND ... just for example, because 1867 has NO MEANING WHATSOEVER in relation to my portfolio. 🙄

Then when $UNITE goes back above peg to 1.1 $ONE, I now have 1.1 squared * 1867 $UNITE when I trade back my $UBOND, or 2259 $UNITE.

Conclusion

That's why I buy $UBOND.

"But what if $UNITE never returns to peg, geophf, because nobody ever buys $UBOND?"

Then ... I keep buying $UBOND and sigh when alls y'alls cry: "I SHUDDA BAWT $UBOND!"

I don't know what else to say: tombstoning works, and I'm working it.

Mirror: the Yield Conundrum

So, in my daily sweep of my @mirror_protocol positions, ...

HOWTO

I see $mNVDA farm is over-collateralized:

However, even the best @mirror_protocol SHORT yields are at or below @anchor_protocol EARN yield.

WAT DO? 

This is a conundrum.

Me, I argue δNeutral is superior to savings, particularly because you earn yields on both LONG and SHORT sides of a position, but you may yearn for safety first and ease-of-access to your funds.

Both are acceptable approaches.

If you opt to move the collateral-overage to savings, simply adjust the collateral to 200%, and *POOF* your collateral-overage (because it's $aUST, right? YOU COLLATERALIZE WITH $aUST? RIGHT?!?!) is moved to @anchor_protocol EARN, ... AUTOMAGICALLY! 

DONE! ✅

But, if you wish to strengthen your (in this case $mNVDA) δNeutral position, then you follow the steps for the MFPT

HOWTO

And, BONUS! I don't even have to adjust the LONG-side. The vault will grow by the 0.01 $mNVDA without my interference.

Oh, and p.s.: expanding the the $mNVDA short position is a SHORT sale. This means that in two weeks, I collect the $UST unlocked from creating (expanding) the short-sale position. 

More $UST to invest in two weeks.

I.

LIKE.

this.

A Brief Tour of CrystalVale

Let's go to Crystalvale, shall we?*

*n.b.: I don't what I'm doing. Bear with me.

First have some $JEWEL in whatever they're calling the Bank these days. Now, let's go to the Bridge.

First of all, @DefiKingdoms created a blockchain that has $JEWEL as the protocol token, ... HOW COOL IS THAT? $JEWEL's OWN BLOCKCHAIN! So, let's bridge some $JEWEL on over...

... but apparently I have to bridge $xJEWEL over first? M'kay, fam, then let's do that! 

THEN I tried to bridge some $JEWEL over, but poor @DefiKingdoms bridge just keeled over and died. Fortunately, they provided a link to the underlying Synapse Bridge, so I bridged my $JEWEL over with @SynapseProtocol bridge. I think. Whatever. It worked.

Okay, OFT! to the Docks to traverse to Crystalvale, HO!

* you need to have set up the DefiKingdoms blockchain on your m-m already for this to work.**

** actually: no. But we'll find this out, won't we.

... nice. 😤

#TechnicalDifficulties
#PleaseDoNotAdjustYourScreen
#Cha #Rite 🙄

And that concludes my journey to CrystalVale for today in the Merry Month o' March, 2022.

Thank you for attending my TED talk.

love, geophf

... The Next Day ...

Okay, thanks to soapé's advice, I was finally able to get to CrystalVale, yay! 

Let's see what's here, shall we?

Ooh! The cradle! HiFi! 🐍

In the gardens they have 1 incentivized LP to stake, so that makes knowing which seeds to buy easy, n'est-ce pas? 

(spoiler: it's the $xJEWEL - $JEWEL LP)

So we go to the marketplace to buy some seeds from the druid. Good thing Crystalvale has a similar interface to Serendale.

With the bought seeds, we go back to the garden and place them in the Seed Box for planting. 

Tada! 🎉 We are now mining $CRYSTAL on a $JEWEL blockchain.

Dude: '$JEWEL blockchain.' How cool is that!