Logical Graphs LLC

Friday, April 28, 2023

Arbitrum Protocols 2023-04-28

I have yields to compound on @arbitrum @GMX_IO.

My position there is imbalanced $GMX / $GLP, so I reinvest 100% of the $ETH-yields as $GMX stake (swapping on @KyberNetwork).

I have excess $ETH just lying about on @arbitrum. I was going to bridge it to @optimismFND, but a $3.59 swap fee scared me away from that blockchain, but good.

So, instead, I bridge this $ETH to @avax and supply it to @BenqiFinance.

Let me be clear about something, o blockchains @ethereum @optimismFND @arbitrum

As an investor that started from 0, I WILL NOT conduct business on blockchains that charge egregious fees for no justifiable reason whatsoever.

$3.59 for a DAI-ETH swap?

You've lost my business.

Meanwhile, my $LINK longs on @arbitrum @GMX_IO have paid off handsomely, but I'm not keeping $LINK on the L2.

So:

I swap $LINK to $USDC on @KyberNetwork (80¢ fee)

Bridge to @FantomFDN on @CelerNetwork (25¢ fee)

Then, swap back to $LINK on @FantomFDN @beethoven_x (5¢ fee).

80¢, 25¢, ... 5¢

POP-QUIZ

Which two higher fees were on L2 @arbitrum and which one lower fee was on @FantomFDN?

Folks, if you use an L2 or Mainnet, and you're paying these fees?

You're paying them for no reason.
and if you don't do something about it: it's your fault.

Arbitrum Protocols 2023-04-28

invested: $7,535.40

value: $8,089.52

ROI: 7.35%

Valuation, Optimism by Protocol: 2023-04-28

Is it okay to admit that I had $ETH long and short positions running on @optimismFND @UniDexFinance, ... that I forgot about? 😅

My $ETH 5xLONG position popped, so I close that.

2023-04-24 entry: 400 $DAI, $1832-per

2023-04-28 exit: 455 $DAI, $1888-per

ROI: 14%; 1.3k% APR

I immediate reopen the $ETH 5xLONG position on @optimismFND @UniDexFinance.

2023-04-28 entry: 400 $DAI, $1886-per

What do I do with the gains (in $DAI)?

Half I deposit into the $DAI-pool on @optimismFND @UniDexFinance, earning 42% APY.

The other half, 28 $DAI, I was going to convert to $ETH on @optimismFND @KyberNetwork?

The swap fees are $3.59.

Eff. that.

Ethereum blockchains: L1 or L2, they think gas grows on trees, or something like that.

@KyberNetwork and @optimismFND, do you want to justify this?

Furthermore, when I try to bridge my $DAI off @optimismFND using @CelerNetwork, it doesn't recognize the token?

@CelerNetwork: why can't I bridge $DAI, one of the highest market-cap tokens in the world, off @optimismFND to none of @arbitrum, @FantomFDN, nor @avax?

Seriously.

Okay, so: I settle for depositing the remaining $DAI gains into @UniDexFinance $DAI-pool.