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Portfolio Updates, Airdrop Farming, and Thoughts
Core Portfolio:
No reason to overcomplicate things. Keep it simple and buy more.
Latest $ETH buys were at $1850 and then $1700.
Latest $BTC buys were at $27K
Altcoin Portfolio:
The $PENDLE wars are in full force, with Equilibria and Penpie accumulating over 14M and taking out more than $12M worth from circulation. Pendle provides a unique proposition by establishing a marketplace that allows users to long and hedge yields. It's worth noting that I also hold $PNP, but $EQB seems like a solid choice as well.
$GMX v2 is on its way. GMX is one of the most successful on-chain decentralized perpetual exchanges, with trading volume crossing over $138B and a user base of over 300,000. It consistently maintains an open interest of over $100M+. GMX's price dropped along with the market due to reduced volatility, leading to a decrease in volume and fees. However, it only took a few days of volatility for GMX fees to return to all-time highs. GMX v2 focuses on a new model where users can deposit liquidity to pairs such as ETH/USDC. Initially, I had concerns about potential fragmentation, but upon further reflection, I think it's actually a genius move. Many users want to provide liquidity to GLP but avoid exposure to other assets, and GMX v2 solves that problem. The only concern now is how profitable it may be compared to UNIv3 positions. Betting against the GMX team would be a terrible mistake.
$ICE (Daniele) is scheduling an upcoming AMA for WAGMI. While it seems that the team is behind the roadmap, given ICE's tokenomics and potential future, it appears to have a solid risk-reward setup. The biggest concern is a repeat of what happened with Popsicle. The announcement of $ICE generated insane levels of momentum, but upon launch, it flopped. It's important to keep a close eye on this one.
$LVL Level Finance recently expanded to Arbitrum, which solidifies my position in this team. The tranche design is innovative and solves many problems other protocols face with their design. The team constantly ships new features and listens to the community by adjusting inflation, among other things. Growing concerns with centralized exchanges like KuCoin implementing mandatory KYC will force more users onchain. There's a big enough pie for everyone to capture a slice.
$ARB Arbitrum is the leading Layer2 solution. The longer this "bear market" continues, the more market share Arbitrum will gain. It's clear that new projects are deploying on $ARB instead of other ecosystems. In the last bull run, Layer 1 solutions gained popularity due to high transaction costs, but in this bull run, it will be a battle of the Layer 2 solutions. Consider $ETH beta in this case.
Airdrop Farming
@swellnetworkio is an emerging player in the LSD (Liquidity Staking and Distribution) space, with an ongoing campaign to farm "pearls." The more pearls you collect, the higher your allocation in the airdrop. I staked $ETH with Swell and provided LP on Maverick. You can receive more pearls by providing LP rather than just holding $swETH. Maverick recently provided a large airdrop for users and committed to future airdrops.
@raft_fi is a new LSDfi player where you can deposit $stETH or $rETH and mint their stablecoin $R. You can provide LP and stablecoin farm as well. This requires you to borrow a minimum of $3K $R. I recommend taking a conservative loan to avoid liquidation and active management. It's audited by Trail of Bits, a top-tier auditor, and backed by Wintermute, Jump, and more.
@gravitaprotocol is another new LSDfi player where you can deposit various LST types and mint their stablecoin $GRAI by opening a "vessel." The unique aspect is that you can deposit chicken bonds $bLUSD without the risk of liquidation. You can also provide LP and a stablecoin farm. This requires a minimum borrowing of $2K $GRAI. I recommend taking a conversation loan to avoid liquidation and active management. It's audited by Omniscia and Dedaub.
Watchlist
Here are some projects on my watchlist, without providing an explanation:
$LBR
$USH
$ZERO
$UNIBOT
$FUMO
$PEPE
$GND
$AURA
$STG
$SOL
$CHOKE
$SYN
If you enjoyed this post, please consider hitting that like or RT. Writing isn't my strong suit, and I'd love to receive more feedback.
More importantly, please share with me a project you're bullish on, so I can research it!
Cheers and happy farming!
@Ashcryptoreal If I can be 100% honest @Ashcryptoreal it would be awesome for you to show some of your buys. What I mean is if you are going to make a play on ALTS, shitcpins etc. take 5 or so people and walk them through it. Just a thought.