π€Intro & Disclaimers
I am not a financial advisor, and nothing I say in this substack is financial advice.
This is all educational content you can use as a starting off point for your own research initiatives. Iβm just another random individual who started a substack βcause I think/hope/knowβ¦ that I have something to share with you allβ. π€·
That said, if youβd like to know a bit about me and are wondering why you should listen to me, read this intro post I wrote π
πLetβs dive in:
This wallet review is a recurring post. The aim is to post an official update every Monday and see how far I can grow this little stash by week 52.
As of September 26th, 05:30 UTC this tiny stash of mine sits at a modest value of $450USD, dubbed week 0 closing balance & Week 1 opening balance. (Unchanged from last week).
For illustration purposes, Iβve dropped a screen-cap of my wallet, accessed via DeBank.
As of September 26th, 05:30 UTC, My wallet has active interactions with these projects:
ππAurora Plus (Read up my review on AUROA+)
ππAurigami Finance (Money-Market/Lending-borrowing)
ππTrisolaris (DEX)
πππ¦Uniswap (OP/PERP Liquidity Pool)
ππGMX,
ππTreasure.lol,
ππChain Link,
ππLivepeer,
ππJonesDAO,
ππSperax,
ππHop.exchange (WETH/HETH LP) (How to Add Liquidity on HOP)
ππPlutusDAO,
ππVesta,
ππβοΈBalancer Pool
ππMycelium (Formerly Tracer)
ππThales (options trading)
πͺ Assets I'm holding in my wallet:
ποΈ With my Top 3 idle holdings being:
ETH (On Optimism, Arbitrum, Aurora) (.029|$37)
LINK (.77|$6),
JONES (1|$1.14),
Thatβs just what Iβm holding and not actively trading at the moment. The remaining vast majority is just crypto dust. Crypto dust is simply a trace amount of cryptocurrency thatβs leftover after a trade or transaction (Gemini, 2022).
π΅οΈ Now letβs look into some DeFi strategies I have on the go.
πGMX
My GLP & GMX positions are still my largest positions.
As you can see, Iβve got some GLP (162.48|$144) & GMX (2.53|$101) tokens staked that are earning me 18.50% & 32.02% respectively.
I encourage you to read up a bit more about the GLP Index Composition. Itβs essentially an index fund containing Bitcoin, Ethereum, ChainLink, Uniswap, USDC, Tether, Dai, and Frax.
Simply speaking, buying this one index gives you exposure to 4 cryptocurrency assets and 4 different stable coins.
Also, hereβs some more in-depth details from my personal GMX dashboard:
This screenshot above gives a breakdown of GMX I have staked, how much itβs yielding me, and how much rewards I have ready and available to claim.
Hereβs similar details for my GLP:
πMycelium (Formerly Tracer DAO)
Last week I opened a long position on ETH (Opened on Sep-18-2022 09:37:17 PM +UTC . Hereβs the transaction on Arbiscan).
I was expecting volatility leading up to the FOMC meeting. If you look at the charts and price action leading up to these meetings over the last few months, youβll know what I mean.
So, I did my best to monitor as much as possible and exited my position when Powell started speaking as it was in profit (16%) and more price action to the upside seemed unlikely (Closed on Sep-21-2022 05:37:47 PM +UTC. Hereβs the transaction on Arbiscan).
Some context for you:
Mycelium was formerly know as tracer. Not gonna lie, this new version looks a lot like GMXs UI (perhaps itβs βHeavily Inspiredβ). Regardless, I love the initiative. I have 100 Tracer tokens sitting in my wallet that had to be swapped 1:1 for MYC tokens as part of the migration.
As of now, I just have my MYC tokens staked which, believe it or not, have almost doubled in value. Lasst week my 95 staked MYC tokens were valued at $4; today they are valued at $7.
I likely wonβt be making any long/short trades this week as iβm uncertain of the current market direction. I feel the best thing to do at this time is preserve capital and sit on my hands.
Just to gain more insight and clarity, I will consider opening another position once a catalyst seems likely (Long/Short).
In the meantime, Iβd recommend you checkout Myceliumβs analytics and try and make sense of the approx. 75% increase in the MYC token price.
πUniswap
Below is an overview of Uniswap LP positions I have opened on Arbitrum and Optimism. As of September 26th, 05:30 UTC their combined value is approx $75.
π« OP/PERP Position
Last week I had a OP/PERP position on Uniswap which was trailing at $14USD. This week, I received some more OP and PERP tokens on Optimism as part of Perpetual Protocolβs OP summer Pool Party.
I added a good chunk of those rewards to my existing ETH/PERP LP. After doing that, I found myself with some surplus OP tokens so I went ahead and swapped those OP tokens for some ETH as long-term Iβd like to grow my ETH stash above all.
Hereβs a screencap of the price range they are trading in:
π« THALES/USDC Position
I also had approx. $25 sUSD (my profits on Thales markets from previous weeks). So, I decided to use up to 75% of that $25 sUSD to open a THALES/USDC LP position instead of buying any options for ranged markets.
I used the remainder to buy some more ETH. When I feel more confident in my ability to better predict price movements, I will liquidate my Thales/USDC LP position and use those funds to buy options.
Hereβs a screencap of the price range they are trading in:
π« ETH/USDC Position
When i closed my ETH long position on Mycelium, my initial $34 Investment had grown to $40, yielding me an approximately 16% profit.
I didnβt feel comfortable enough to open another short/long. However, I felt that ETH will trade between $1200 to $1500 for a week or two. So, I opened up an ETH/USD LP position.
Hereβs a screencap of the price range they are trading in:
As mentioned above, this week I felt uncertain about the direction and felt it would be beneficial for me to just open LP positions and take advantage of the price volatility and collect some trading fees :)
π Seedle.Finance
If youβd like to monitor my LP postions, outside of these weekly reviews, visit seedle.finance. Once you land on the home page (screencap above) You can type in my address shitcoinornot.eth where it says βenter any ENS name or Ethereum addressβ and youβll be able to see all my LP positions and the fees they are earning, returns they are promising, etc. as shown below.
ππ Aurora+
Last week I also started exploring Aurora+. I wrote a piece on Aurora, Near, & Aurora+ and how to explore the ecosystem. Check that out too if you need to gain some context on Aurora & Near.
If you havenβt already signed-up: hereβs an invite.
Last week I had $50 USDC sitting on Arbitrum which I was keeping as backup collateral to add to my ETH long position on Mycelium. Once I was certain that I wasnβt going to use that to build a bigger position, I decided to bridge that $50 over to Aurora. I used the Synapse protocol to bridge the liquidity over (the process usually takes 15-20 minutes).
Once I had the $50 bridged successfully, I went ahead and swapped the $50 USDC to AUROA, stNEAR, wNEAR & Meta tokens.
π₯©πStake Aurora
I staked my AURORA Tokens (11.72) on the Auror.plus dashboard (Sep-19-2022 02:44:00 PM +UTC).
Which, 7 days later, (September 26th, 05:30 UTC) have grown to 11.83 ($14) Aurora tokens, as displayed below.
When you stake AURORA Tokens on the Aurora+ dashboard, you also start earning ecosystem streams as part of the Aurora+ growth initiatives (read up more about that in my Aurora+ review here).
Hereβs a breakdown of the ecosystem streams Iβve earned thus far:
Iβll let you sign up and explore the dashboard further on your own. Aurora+ is a great place to start as all Aurora users can sign up for a free basic account, which includes 50 free transactions per month.
πAurigami Finance
Aurigami Finance is a Money-Market/Lending-Borrowing protocol on Aurora. I went ahead and supplied .01ETH ($13) which is earning me 14.18% (2.08% in ETH that is compounded daily and additional 12.1% in PLY tokens which is Aurigamiβs native token).
πTrisolaris LP Positons:
Trisolaris is a Decentralized Exchange (DEX) on Aurora, similar to what Uniswap is on Arbitrum and Optimism. I am experimenting with some semi risky pairs: stNEAR/NEAR & stNEAR/META.
TriSoalris AMM model is different from Uniswap V3s Model, so I donβt get to set price range. I just supplied 1:1 ratio of tokens in both of those pairs and staked the LP tokens into Trisolaris farms. I recommend checking out that Reddit discussion linked here if you are confused about Pools v Farms. Essentially, the farm allows me to earn extra rewards for being a liquidity provider.
Hereβs a screen cap of my current LP positions and their values:
I urge you to read the piece Iβve written on What is Aurora+ to better understand the ecosystem and the projects on Aurora.
πHop Protocol
Lastly, Iβve still got some liquidity on Hop protocol. If you arenβt familiar with Hop, itβs a cool protocol that allows us to bridge assets like ETH, USDC, USDT, DAI MATIC between Ethereum, Polygon, Arbitrum, Optimism, Gnosis.
As you can see, I have $28 worth of Ether split roughly 50/50 between WETH/hETH. They are both ETH and roughly track the same price. You can say they are ETH with task specific upgrades. ETH as an asset cannot interact with other tokens on itβs own. It needs to be wrapped (read up about wrapped ether here, and what wrapped tokens mean).
Think of hETH as Hopperβs version of ETH modified with a simple layer on top, so it can perform tasks specific to hop protocol. I can use Hopβs app (linked above) to convert my wETH to hETH and supply a roughly 1:1 ratio of the tokens in their AMM (Automated Market Maker) pools. Once I add my share to the liquidity pool, those assets start earning a portion of the fees collected by the bridge.
Feel free to drop some comments below to let me know your thoughts.
Perhaps thereβs something you think I could do to improve my strategies?
Anything youβd like me to experiment with for the next review?
Outro
Of course, it goes without saying but bears repeating that nothing I say or share here is financial advice. Iβm just another random individual starting a substack βcause I think I have something to share with you allβ. π€·
Also, like many individuals who are doing this for a living I also am a humble penniless fool. So, if you are a kind, bountiful, and gifted individual who has benefited from this S#!t Postery and wish to buy this S#!t Poster of yours a coffee, Some drip money would definitely be appreciated and will help to keep my fingers going on this mechanical keyboard of mine.
You can donate whatever you think is right at this address: shitcoinornot.eth :)
π My Debank Wallet (shitcoinornot.eth)
If you are interested in tracking my wallet and seeing what Iβm doing and how I am navigating in this βWeb3 Worldβ feel free to follow me on debank.com.
Itβs the best portfolio tracker (in addition to Zapper & Zerion) to track crypto portfolios. Think of it like a summary of your holdings and investments.
Every Monday, Iβll do an update on my βHoldingsβ documenting my decision making and rationale behind the projects that are in my wallet so be sure to come back next monday!