Automation

Automation be good, yes?

Why don't I have any? This is a question @snekforceone and others have asked.

Here's my answer.

I do have automation: my systems. I check my positions every day.

But also: I don't need automation.

Since I maintain δNeutral positions, the chance of me being liquidated is near nil, so I don't need to check it more than once a day, nor do I need automation to do so. Systems beat automation.

Every. Single. Time. 

Here's my take on automation. 

1. It makes you an automaton. I'm not a trader, so automation is not important, and I also get to sleep at night, and don't need to press 'ignore' 24,952 times each day. Automation is a big waste that you use once and regret forever.
2. Also, when you have automation, it means you have a defect in your system, or that you're using the wrong system. If your system doesn't, eheh, automatically entail work that NEVER should need to be automated, you need to create a better system, NOT sell out to automation.
3. Thirdly, I don't like automation, because it locks you into a way of seeing the world that is instantly no longer accurate, and it blinds you to opportunities that arise when you do see anomalies. You have no freedom of choice nor clear vision in automation. 

Automation has its place. Traders need it. I'm not a trader, so automation's place is 'not in my portfolio.'

That doesn't mean you can't use automation effectively. But it does mean I've never seen anyone who has. I'd love you to prove me wrong, but please don't kill yourself trying to do so.

I'm a yield farmer. I do the things, then I live my life. I like that balance. Automation, instead of freeing you to do more, only ties you down more and more to the computer screen: you become the automaton, a slave to the automation. I choose not to live that way.

I choose no automation.

Daily cryptocurrency income report, 2022-05-12

Daily #cryptocurrency income report, 2022-05-12: $108.02*

So, 'fun' day yesterday, eh, fam?

Let's get back to it, shall we?

*does not include auto-restaked yields nor x-token gains

Rekt

Rekt

Hey, folks, I'm rekt.

Let's face things squarely. $LUNA is at sh-tcoin prices. But is $LUNA a sh-tcoin now?

Some of you'll say 'yes,' and wash your hands of the whole affair. And that's fair.

But what if.

But what if the answer is 'no'?

I'll explore the latter option, folks.

Why can I explore the latter option?

Because I'm rekt.

If there's no salvageable position, then I have freedom to explore any option, and if it doesn't work? I'm still rekt.

So. What.

I have complete freedom now. I like it.

I'm rekt. And I'm free.

See you in the reports.

Mirror

I'm liquidating myself in @mirror_protocol.

This'll hurt.

But @mirror_protocol is capital-preserving, and now is not that time. Now is the time to strike while the iron is molten lava on the floor.

Bye, @mirror_protocol. I loved ye well. 😢

Steps for liquidating below.

Okay, let's liquidate $mDOT δNeutral position and see what comes out of it.

Step 1: On @mirror_protocol observe the shorted amount: 0.75 $mDOT 

Step 2: Withdraw that amount from your @SpecProtocol or @ApolloDAO. 

You may need to play around as the autocompounder may leave you with excess that you can grow for when the markets returns to sanity.

So, I'll leave like $5 or whatever minimum I can on the short side, too. 🤔

Step 3: cover the short with the $mDOT from the vault.

Step 4: record how much we recovered. 

On the short-side we got 9.4 $aUST

On the long-side (check back one tweet), we received 8.4 $UST

Worth it?

Nah. Transaction fees summed to ~$1.50. Let's liquidate the big fish first.

So we're not going to go with $mDOT (now), but this was instructive. Always try something with a smol amount FRIST!

So, procedure established. Now let's do this procedure on the big fish, which are: $mHOOD, $mNIO, $mNVDA, $mMSFT, and then the smaller fish come in.

Okay, so, let's start with those four mirrored assets. I have 0 savings ($aUST) and 10 $UST

... and I'm so tired. Got this head-cold thing going on, and a cough triggering an acute headache.

BLEH!

OKAY! SOLDIER ON! Let's SNARF the assets and see where we end with our savings.

First, biggest asset: $mHOOD

Short-side farm: 14.5 $mHOOD, 190 $aUST

Long-side vault: We'll take out 14.3 $mHOOD

Savings earned: 179 $aUST, 133 $UST

I was going to keep positions open, but I see they're charging a closing/adjustment fee, anyway, so I'll just close them going forward.

The May, 2022 Crash: some measures

Okay. Let's take a breath here and measure what happen.

Just before the crash, my portfolio was worth:

Assets,loans,total

$72,511.44 -$11,505.76 = $61,005.68

Interestingly, I have $22,000 invested

So my portfolio has 277.30% growth since inception.

Charts: 

Let's break down the damage protocol-by-protocol.

First up:

@anchor_protocol.

Hide your children's eyes. This may hurt.

@anchor_protocol, pre-crash was not even accurate, as I moved a total of 312 $LUNA in as collateral AND 1.74 $ETH. This sheet was pre-PRE-crash. Ugh.

This is @anchor_protocol post-crash.

What do we see? I went from 312 $LUNA and 1.74 $ETH to 25 $LUNA and 0.5 $ETH. Ow.

But my net-loss pre-crash to now is... ~ $1K ???

Why am I crying? A $1K net loss is nothing for a crypto-duderino. Not the full story, but not so bad, either.

What else?

I can pay off my $1K loan: this month.

No more liquidations on @anchor_protocol. 

That, right there, is worth it to me to make the Anchor BORROW just go away, and the liquidation(s) made that possible, reducing my borrow from ~$12K

Thank you, liquidations.

Okay, let's turn to the next set of liquidated positions: @mars_protocol. This was what my @mars_protocol looked like, pre-crash.

~$500 invested with a ~$1212 net asset value (assets - liabilities)

My post-crash @mars_protocol portfolio looks like this:

$276.21 investment (remaining), $122.85 NAV.

So, ~$1K loss, but there's more to this story: some good news as to how @mars_protocol liquidates positions. Let's dive into what happened with me. #SilverLinings 

Two liquidations: 

1. 8.37 $LUNA- 119.91 $UST, 646.59 $UST loan field

I was returned 10.26 $LUNA. That's a gain, not a loss.

2. 537.38 $ANC- 131.85 $UST, 980.09 $UST loan field

I was returned 357.09 $ANC, again: gain.

@mars_protocol returns your tokens PLUS in a liquidation.

OSMOSIS Blockchain: a (tiny) tour

From the $bATOM I earned from @TeamKujira liquidation fulfillment claim, I'm converting it all to $UST, then bridging that over to the Osmosis blockchain. 

On the Osmosis block, I

• SWAP the $UST to $ATOM and $OSMO 50 / 50

• PAIR the $ATOM and $OSMO into a LP

• STAKE the LP with superfluidity, ...

... 'cuz on Osmosis, I'm OSMOSIS JONES, MR. SUPERFLUIDITY, hisself! 

Word. 😎

Daily #cryptocurrency income report, 2022-05-08: $358.38

So, just want to share this thought: 

In a down-market is where you get busy and you make a TONNE of money.

If you're not working your ASS off in a down-market, you have NO RIGHT to whine you missed it on the up-turn. 😤

So, what stands out to me in these charts is the predominance of $LUNA.

This is a very, very good thing in my book: I'm buying $LUNA during a down-turn and at a discount.

If "I need more $LUNA" is #Evergreen 🌲 then buying it at ATL is a perfect confluence.

Daily #cryptocurrency income report, 2022-05-07: $540.48*

I'm going to call today: "The day I tried not to get liquidated (I didn't) and made a metric tonne of money from @TeamKujira liquidation fulfillment claims"-day.

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