Saw this video https://www.youtube.com/watch?v=kDJeWom5As0 and was a few months late but timing was a bit better as the Crypto market crashed in MAY and allow this strategy to be explored.
Decided to follow the video but it's not too straight forward;thus, decided to blog this so I can follow it again.
The general steps are:
Switch ETH to Matic network
Use Quickswap to exchange for Matic
Deposit to AAVE
Borrow stable coins
Quickswap for Matic
Deposit to Matic
(Optional) Repeat step 4-7 till you are comfortable with the risks, in general 20-30% LTV.
Did a test round and it's successful. The gas in MATIC network is almost negligible, given the high profile stage of this coin, it's good to accumulate this coin while borrowing (loop) in stable coins to add more MATIC and get more WMATIC to be redeposited in the pool.
Plan is to borrow USDC or which stable coins APR is lower during the uptrend of MATIC, and only buy MATIC during the downtrend using USDC. Maintain the LTV at 20-30% in case of a crash.
For May, got rekt by the black wednesday on May 19th, need to store ammo and fight for another day. Anyway, the portfolio as attached:
Decided not to pursue Sorare as it takes some time to research the current players as well as to pay for cards in order to gain higher ranking and better cards.
HODL
The HODL portfolio is holding well, better than the trading acct though.
Quantfury has been listed on Bitfinex and the price is ard $14 (1st June)
Cashaa has hired a new CMO and planning Defi in end June, well, let's see.
Safex development suddenly grind to a stop with no more updates from Dan, disappointing.
Zig has launched a buyback programm to burn their max supply by 50%, thats abt 1billion coins burned.
Trading
Got rekt............ need to find moolah
Staking
Locktrip, Hydra, Quantfury has been looking strong, still getting my Hydra airdrops every week and staking rewards on average 4 days.
Zig, is getting 110% APR in pre-staking for April and May.
Shifted some funds to thorchain for staking, will have APR updates next mth.
Summary
Need to get back in the trading game in June since MVRV sort of stabilise and explore more of thorchain.
For April, climbing back up for trading in Quantfury acct since the disaster outing in March, the perps account is still on hold while doing research on various HODL coins. Sorare was fun but need to purchase some rare cards in order to get more better and unique cards. Anyway, the portfolio as attached:
HODL
Have added ZIG and looking to add RUNE for May, the strategy will be to accumulate RUNE and ZIG, and trade perps for RUNE.
Quantfury going to list on a tier-one exchange on May 26th, see https://twitter.com/quantfury . Woo, hope to see $50-100 by the end of the year.
Cashaa is very disappointing with no delivery due to poor planning and price has been going down;in addition, India has 2nd wave of Covid. Hopefully, the AMA in May will address the project delivery.
Trading
Still using Quantfury to trade, will be using a new strategy, let's see.
Staking
Locktrip and Hydra has been an absolute blast in April since staking started. Both their price have been climbing steady 6-7/30-40 USD since Webjet investment news and Cointelegraph reported it. Was hopeful for the travel bubble between Australia and New Zealand to start but there are new cases of Covid. Hope the world get vaccinated fast enough so travel can resume normalcy in 1-2 year LOC should go to the Moon.
Quantfury as usual getting the staking rewards and reaching new traded volume.
Safex just getting started with their TWM wallet and listed products, hope more adoption to follow to see staking rewards.
Zig, is getting 110% APR in pre-staking for April and May.
Summary
Planning to play around with zignaly and accumulate RUNE and ZIG.
Everyone seems so bullish on BTC but MVRN is telling a different story, there is divergence building up and if it continues to trend lower, there should be a correction down to IDK which level it will be.
Pretty sure everyone TV indicator is pointing the same way too for daily and weekly.
Sad month as the binance futures and quantfury got nearly decapitated due to my own greed and over exposure which wiped out my months of accumulation of DOT, LINK and ETH. On the bright side, these two accounts are about 10% of my overall portfolio. A lesson that I need to learn and relearn again, the exposure and getting too confident, will take a few months to recover both accounts.
Will still continue to trade on both accounts but on a smaller scale. Now on my HODL and staking portfolio, see following mindmap.
HODL
Have shifted HIVE, WAX out and move some of them into buying LOC which is going to have an airdop 1:1 for HYDRA, and at the same time start to stake HYDRA which have a min 200% APR for the first year. My average price is $2, and given the current price of LOC is $5, HYDRA is $23, a good investment i hope especially they have investment from Webjet and going to integrate their rezchain database which originally locktrip wanted to create a global hotel database for a fairer price comparison against the likes of OTAs like booking, Tripadvisor, etc. With the vaccination efforts going around globally, a good time to accumulate and prepare for reopening of travel and tourism within this year, normalcy which i expect in 1-2 years unless another new strain strikes again.
QTF is finalizing tier 1 exchange presale/IEO which i am hopeful that the price will be around $8-10 a coin, i bought an average 0.68 per coin, which means an immediate 1000% ($8) gain. i am hopeful.
STAKING
SAFEX have finally launched their TWM client and have started to stake, hopefully they can generate enough buzz, the adoption is still weak, will wait 6-12 months to re-evaluate.
NODES
Been exploring various Crypto projects to find nodes to earn some spare coins, used to to ZEN, was too early let go and now ZEN is trading at $50..... oh well. looking at TFUEL and RLC. Waiting for my new Raspberry Pi 4 to play with.
GAMING
Started with Sorare, realized i have so much to catch up with soccer players these days, missed the 90s when my fav team was Liverpool. Axie infinity still need to buy axies to start with, and its not cheap, let's see.
Presale
Exploring projects like uniqly and easyfeedback.
Trading
As stated earlier, will need some time to recover both accounts
