Daily cryptocurrency income report, 2022-05-31

Daily #cryptocurrency income report, 2022-05-31: $188.55*

Terra Classic day today.

Terra Classic day, ... every day?

I'm back to basics:

@anchor_protocol and

@mirror_protocol 

Right where I like it.

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

Experiment κ: Mirror

καθρέφτης is 'mirror' in Greek

I spent a lot of time today 'rescuing' my Mirror-portfolio from 'certain' demise, then rebuilding it.

Worth it? Oh, yes! But, first, let's review the 'fun' I had trading all day today, and ... all last night.

Missed in the hurley-burley of the above is this transaction.

Which is this swap, over time:

• 2000 $UST -> 11k $mGLXY
• 11k $mGLXY -> 11k $UST

When the peg righted itself for ~15 seconds.

This transaction paid for all the others, including the losses.

Experiment α1: bETH collateral on Anchor

α(1): Using $bETH as collateral

1. BORROW x $USTC

2. send that borrowed amount to EARN

As EARN % is higher than borrow %, I'm making

~11% $UST and

~2000% $ANC yield.

This is a good baseline.

Daily cryptocurrency income report, 2022-05-29

Daily #cryptocurrency income report, 2022-05-29: $372.24*

Sure, it's 'funny-money.'

Yours isn't? I didn't think so, either.

And when Terra Classic rises from the ashes, ... watch out.

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

"Terra Classic iz ded!"

"TERRA CLASSIC IZ DED AND STUFF!"

Okay. It's ded and stuff.

Meanwhile, $LUNC has doubled in price, so my 100 $UST investment in $LUNC is now worth 7000+ $UST.

AND I've just farmed 1 (more) $mBTC on @mirror_protocol. Wait til that price corrects.

But Terra Classic is ded. m'kay.

Play

Hey, I lost everything on the $LUNA-crash. Everything. Like a lot of you did. It hurts.

That's the past.

Now I'm just gonna have fun with it. I mean: why not? I have absolutely nothing to lose here, folks.

So I get to play, and Terra Classic is my playground. 😊

Terra 2.what?

Terra Classic Gains

Wanna see a magic trix?

$LUNC up to 8.42 $UST.

So this is what 100 $UST looks like now: 

10k $UST.

I'll take those gains. 😎

#magic

Terra 2.what?

Terra 2.what? or Terra 2.who cares, more like!

The correct answer is 'Terra Classic.'

$LUNC is worth way more than $LUNA.

$UST ($'USTC') is viable and useful.

Don't at me. Just hide in the bushes and watch.

Send tweet.

I really hope this doesn't age well at all, but...

'Crazy' Mirror (depegged) LP yield farming

With a title to this entry like that, ... 

Approach

Let's do the 'crazy @mirror_protocol farming'-thing.

We collect crazy-hot $MIR yields, first of all, then swap for $UST. Why 'swap for $UST'?

Because I'm crazy (and I'll explain later).

Let's look at the @mirror_protocol yield-farms. We got some CRAZY yields and CRAZY premiums (difference between oracle price and traded price IRL).

My focus, right now, is the premiums, so I'm looking at $mGLXY, $mBTC, $mETH, and $mDOT, all at -99% premium.

Because I'm crazy.

What I'm definitively NOT looking at is SHORTing these securities so far off peg. 

Why? 

When their prices readjust, I'm going to be correcting collateral by a factor of 100.

I'm CRAZY.

I'm not stupid, however.

That's how I see it, anyway.

Method

The MFPT (slightly modified for the craziness) tells me which coins to invest in and what proportion of yields to invest, given I want half coin to HODL, and half for the LP (reserving $UST)

The MFPT is nice that way.

HOWTO

So, we traded $MIR for $UST (because I'm crazy), now then we traded that $UST for tokens at a -99% premium. 

So I'm buying mirrored-assets at 99% off trade price with an average 3000% $MIR yield.

I'm using my $MIR yield to create $MIR yield.

Who is crazy now, bishes, huh??? 😤

So:

1. $MIR yielding farms at 3000%
2. Or $(m)BTC (etc) at 99% growth potential.

Which one do I choose?

If any of you know anything about me, of course you already know my answer:

I choose both.

• 50%ish I'll HODL
• 50%ish goes to @mirror_protocol LP yield farms.

The. End.