Welcome to the monthly review of my token portfolio, I started tracking this portfolio now 37 months ago in full transparency. I provide updates of the interests received, the services used and the transactions performed during the month. This post tracks what happened in March 2023.
Crypto interests
The portfolio earnings reached $19062 this month, that's a 53% increase from the previous month. The following tokens (including any kind of airdrops, mining, staking, interest rewards, browsing interest, PUBLISH0X payments, and any kind of promo code or referee bonus) contributed to the earnings. They are ordered from the largest to the lowest contribution:
- 10250 ARB from the airdrop. This is the largest airdrop I ever received, I was lucky to have used several Arbitrum application like GMX or Dopex in the past to get this amount.
- 12915 MON from Defi Franc as rewards from providing DCHF liquidity to the stability pool.
- 0.81 ETH from and from Lend Flare as reward from respectively staking my GLP/GMX tokens and supplying ETH tokens.
- 1414856 LFT from Lend Flare as rewards for supplying ETH and WBTC
- 550 CRV from as reward to my participation to the cvxFXS/FXS, FRAX/FPI liquidity pools, staking cvxCRV and locking CVX
- 23.71 CVX from as interest on my shares of the FRAX/FPI, FXS/cvxFXS liquidity pools, cvxCRV staking pool and CVX locking.
- 11.46 FXS from as reward to my shares of the FXS/cvxFXS, FRAX/FPI liquidity pools and CVX locking. I also received my brides from as FXS thanks to Lama Airforce
- 0.51 GMX from as staking interest.
- 13.6 LUNA from as staking rewards.
- 0.44 AURABAL from as reward for locking my AURA.
- 3.41 HNT from my access points.
- 0.345 ATOM as staking reward from my ATOM.
- 3.52 JUNO from my JUNO staking.
- 1.20 OSMO from as staking rewards.
The following diagram depicts the evolution of the received monthly crypto interests:
This month again, the interest received is exceptional. The average on the last 12 month is now 20% but is only 14% excluding the last two months.
Regarding the interest composition ARB (72%), MON(8.9%), ETH(7.8%), LFT(7%), are the top contributors. The remaining sources are around 4.3%.
Transactions realized
Beginning of the month,
- I compounded my
- I purchased a bit more UMAMI with the GMX ETH rewards and stacked them in
- I claimed my LFT, ETH and MON rewards from Lend FlareDefi Franc and converted everything to DCHF.
- As Silicon Valley Bank issues started, USDC lost its pegged and I somehow panicked by remembering bad memories of UST... I removed all my ETH/BTC from Lend Flare and removed by DCHF/USDC from the Curve liquidity pool and swapped everything for DCHF and provided the whole to the Defi Franc stability pool for around 28% APY. It was not fundamentally a bad move but obviously I ended reverted the trade at higher ETH/BTC prices than what I sold them for...
Middle of the month,
- I swapped back DCHF to BTC/ETH to return to the 50% stable coin allocation and I put supplied them back to Lend Flare. While coming back from stable to ETH/BTC, I balanced the ETH and BTC allocation to be similar.
- I claimed my LFT and MON rewards from Lend FlareDefi Franc and converted everything to DCHF that I provided to the Defi Franc stability pool.
End of the month,
- I removed my tokens from the cvxFXS/FXS liquidity pool on and put them on Lama Airforce pounder. The idea is to keep the FXS exposure, increase the APY while paying less gas fees to compound.
- I sold the rest of my BTRFLY for DCHF.
- I received the ARB airdrop that I sold after a few hour for GLP tokens that I staked on . The idea is that GLP are 50% BTC/ETH, 50% stables which is basically my target allocation. Staking GLP earns around 25% APY in ETH.
- I claimed my LFT and MON rewards from Lend FlareDefi Franc and converted everything to DCHF that I provided to the Defi Franc stability pool.
- I claimed the CRV/FXS/CVX rewards from . I locked the CVX in , and put the FXS and CRV in the Lama Airforce pounders.
Evolution of the portfolio value
- The portfolio finished the month with a gain of $14K which is +4%. It's lower than what it should have been if I did not panicked.
- The performances of the main components of the portfolio were fairly different: WBTC(+20.5%), ETH(+9.6%), GMX(-1.7%), CRV(-10.4%), CVX(-18.9%), FXS(-26.7%)
- The stable coins allocation is now 49.3%. I don't detail my stable coin allocation, but it's basically a mix of DCHF, FRAX, FPI with the rest being USDC and DAI. I probably gained a bit this month on the DCHF price evolution.
- My portfolio allocation plan is the following:
- keep the stable coin allocation between 60% and 40%.
- At the end of the month
- if the stable coins allocation goes higher than the range, sell stable coins and buy non-stable coins to go back in the middle of the range
- if the stable coins allocation goes lower than the range, sell non-stable coins and buy stable coins to go back in the middle of the range
- For the non stable coins allocation
- Keep at least 50% in ETH/WBTC
- Rest in good coins, currently my good coins list is CRV/CVX/FXS/GMX/AURA. This month I'm adding back UMAMI to the list while keeping the allocation very low.
- Avoid staying invested very long in bad coins.
- For the interest reinvestment strategy, I'll reinvest them in the "non-stable good coins" list if the stable coin allocation is higher than 50%, I'll reinvest them in stable coins otherwise.
The portfolio value compared to the capital invested + earnings received increased this month and continued rebuilding a bit of margin.
The portfolio performance is+4% this month, still lower than the historical average of +7%.
Things to look forward in April
In April, I'm looking forward to the evolution of the macro situation as usual. I'll try to stick to my portfolio allocation strategy better than in March. The Ethereum Shanghai upgrade should arrive middle of the month, I'm curious to see the impact on the prices.
