district nine

yield farming collective

[Sofa Tiger @XBTaiga]

Update on my farms

sUSDai:

Reduced position by about 70%. CHIP down bad, persistently higher borrow rates since Resolv and Kelp were exploited, higher depeg/insolvency risk as more funds are lent out.

Fluid itself got rekt again, I'm not particularly worried about my coins getting siphoned as sUSDai can't be borrowed, but if lenders pull out I would be forced to unwind if I don't wanna pay crazy high borrow rates.

As other people may also unwind, a depeg on sUSDai would be likely, so unless you're quick that would suck balls, especially since this isn't even that good of a loop anymore.

In other words, risk-adjusted returns deteriorated a lot compared to prior months. Got lots of points already so what I've got will have to do.

Saturn:

Team is keen on getting to the $500M TVL goal which, as you may know, would trigger a premature ending to the season. That is not necessarily bad, it would almost certainly translate into a smaller allocation for s1, but it would also be less burn and less dilution, imo neutral to positive for early farmers.

HOWEVER, that would not be nice to anyone left holding naked YTs, as points for s2<<<<points for s1. And I do hold them, so my main focus for this farm at the moment is to get a good exit from those naked YTitties. Pendle markets are slow to reprice, mostly due to their outrageous taker fees, but liquidity isn't the best so when they do reprice, it's done, no second chance. I'll be tracking the TVL very closely until I'm out.

Variational:

Farming vari for the first time since October. I don't really fuck around when farming perps, so I went through 10/10 pretty much unscathed, but it was quite the scare nonetheless. I quit all perps for a while just to be safe and ended up not coming back until now, other things got my attention at the time.

I think it's consensus that the perps meta is on its way out, but lots of frens are bullish on vari so I decided to give it a go again after RWAs launched. My first week sucked but the last one was a lot better, low cost basis for points so far too so I'm happy to continue, it's not like there's a lot of stuff to farm these days.

[district nine @districtninecap]

Introducing @districtninecap, a collective of crypto power users who are focused on optimized airdrop and yield farming strategies.

We have all spent multiple years in the industry and have deep roots in DeFi, spanning from perps & prediction markets to classic yield farming. Members also secured high 6 figure drops in the NFT era with top leaderboard placements in Magic Eden & Tensor.

Our goal is to find and spotlight top-tier projects early on and educate people about them. We were early supporters of Hyperliquid and Lighter. Our current highest-conviction project is @variational_io, where our small group is about to hit a total of 100,000 points.

Some of us have also worked professionally in this field, bringing VC and industry experience to the table. We bring not only capital provision but deep rooted experience and advice to help develop new projects, with a particular focus on helping bootstrap early stage projects.

We are currently seeking new projects to support, any looking for experienced feedback, support or liquidity provision are welcome to reach out.