28 weeks ago, on July 14th, 2020 I had put ~$7000 across various DeFi platforms. Here's the first post if you've missed it.
Today, on Week #28 of this experiment, I decided to produce another update for you as BTC finally breaks its consolidation phase and hits new ATH's again! Nice!
With Bitcoin moving so quickly, many of my DeFi positions across liquidity pools and incentive programs have also skyrocketed! Today, I wanted to show you an update from my last article around 3-weeks ago.
Here is a quick reminder of what I have been tracking;
Here are the results on a token basis with the number of crypto-tokens returned (NOT $ Values).
Key Takeaways:
- As expected, the total number of $DAI tokens in the Compound Finance protocol has remained relatively steady. This has resulted in around 0.174 claimable $COMP (around $90) - almost up another 0.01 COMP from 3-weeks ago.
- For the Uniswap AMPL pool, the 2.5 ETH of liquidity I have provided is down to just 1.8 ETH now. This is due to impermanent loss. However, as AMPL has been rising quite significantly recently, the impermanent loss is starting to correct as it is us up from 1.5 ETH in the last post. Interestingly, due to AMPL surging again, the total number of AMPL in the pool is now at 1868 AMPL - down from 1977 AMPL in the last post. Nevertheless, profit is profit. The liquidity has provided around 741.77 AMPL in rewards now - up from 647 AMPL in the last post.
- On the Balancer WETH/JRT pool, I am still down a solid 75% on the initial 0.4 ETH I put in - the same as 3 weeks ago. The JRT balance has increased 20.64% but it still won’t be offsetting the 75% ETH loss. However, there are 1085.6 additional JRT in rewards that I can claim - worth around $143. There is also $127 worth of BAL tokens I got from the Balancer protocol trades.
- Curve and Kyber have remained relatively steady, as expected. This is because I am just staking KNC in Kyber - so the original value shouldn’t change. In Curve, the $995 I entered with should also remain pretty similar across the entire experiment - but I will earn from the rewards (see $ Value rewards below).
- The Ethereum in the Bancor pool is down by around 53% from the 2.122 ETH I entered with. Nevertheless, the BNT in the pool has is up 117% as there is 695.9 BNT in there - this is down from 743 BNT three weeks ago. There is also an additional 13.516 BNT I can claim from rewards.
Now, let's take a look at the $ side of the experiment:
FYI:
- The TOTAL includes all the Total Accumulated Rewards
Key Takeaways:
- We can instantly see that over the 28 weeks I am up by a whopping $18,811 - up another $8,340 from three weeks ago. This is now a 262.5% ROI - up from the 146% ROI I saw on week 24. This is primarily due to the fact that SNX has continued to rise, helping the funds in the AAVE protocol to grow. Additionally, AMPL, KNC, and the funds in Bancor are also up.
- Finally, KNC has started to rise, and the 30% loss I saw on week 24 is now in a 30% profit.
- The returns from the Aave protocol are still my largest gain. It is up by a total of 852% since I entered - up from 573.75% on week 24, giving a profit of around $8,500. This is largely due to the fact that SNX has surged quite significantly recently. The additional $400 in rewards has also helped.
- The liquidity provided to the AMPL/ETH Uniswap pool (and Geyser) remains my second-largest gain. I have profited by 591%, up from 305% in my previous update. This means that I have gained $6,500 on my initial investment. There is an additional $1,216 from the Geyser liquidity mining rewards I can still claim here - by far the largest reward from any protocol.
- The ROI in the Bancor protocol has also surged quite impressively since my last update. It was at 140% on week 24 but has since exploded to an ROI of 257%, netting me a profit of $2,580.
- The ROI on the Balancer pool is also up from 22% in the last update to an ROI of 60% today. This has provided a $665 profit.
- The smallest gains are still coming from Compound, which has netted a 9.69% profit (including rewards).
- The Curve pool rewards have increased from an ROI of 8.94% in week 24 to 34.11% today.
Well, that’s all for now folks! I am more than happy with my $18,811 in profit and I will continue to share these results over the following weeks if there are any further developments that I think might interest you.
See all experiment updates here
