Recently I shared how I am using margins in a mono-directional approach that drives to push the amount of DAI held which is my new obsession. For today I wanted to just share with the community an example of how that works. Remember of course that DAI is a stablecoin tied to the dollar so although it does move around compared to other currencies not by much. This means that leveraging profits is much easier.
The principle is very simple
- Convert a round number(ish) of DAI to a target currency and wait
- Once the value of the target currency increases to above this roundish number change back to DAI
- Repeat
So there is nothing new here and in the previous post I shared how I would often cream off some extra DAI, often between 1 and 4 in doing so. By doing this it doesn't even really matter how much your wallet provider takes because you are increasing the amount of crypto (DAI) held. Especially after September I have a habit of taking the profit early but sometimes it can be advantageous to sleep on it and this is the data I want to share today.
Simply:
- 3rd December I converted 99.99035731 DAI to OMG Network*
- 4 December reconverted OMG Network holdings to to 109.29927283 DAI
- Net Gain in DAI was 9.30891552 which obviously works out at about 9.3%
* The amount I aim for is about 100 DAI but always just under so I can see that when re-conversion leads to >100 DAI it is always profit.
I have been doing this increasingly over the last six weeks or so and dragged my portfolio kicking and screaming in the right direction with the aim to drop surplus DAI into Celsius while continuing to rotate the 100 DAI round and round generating more kinetic profit as it goes (I think I have just invented that term and I like it). I like the margins and on 100 DAI it works beautifully. Larger amounts may incur greater costs so if it's not broken don't fix it.
In the previous post I shared how I added 20 DAI in about 10 days. In this case overnight I added 9.3 DAI in a single transaction.
I just wanted to share a specific success story with the community with precise numbers to show that it does work. Have a good day and stay safe and well.
And that is why I love DAI. My favourite super coin
