I've put $7000 into 7 DeFi Platforms [Week #16]

I've put $7000 into 7 DeFi Platforms [Week #16]

By Brawnd0 | CryptoLetter | 9 Nov 2020


Sixteen weeks ago, on July 14th, 2020 I've put ~$7000 across various DeFi platforms. Here's the first post if you've missed it. 

Today, on Week #16 of this experiment, I am happy to share with you the returns made thus far. 

I have not been so consistent as I skipped a bunch of weeks between my last post. This is because the returns had not moved and it would not bring too much more information to the table for you guys.

Here is a quick reminder of what I have been tracking;

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Here are the results on a token basis with the number of crypto-tokens returned (NOT $ Values).

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Key Takeaways:

  • As expected, the total number of $DAI tokens in the Compound Finance protocol has remained relatively steady with a slight increase from the APY earned. This has resulted in around 0.127 claimable $COMP.
  • With Ethereum dropping significantly against Bitcoin, the total number of ETH in the AMPL/ETH pool has dropped by 12% from the original 2.5 ETH I deposited to 2.2 ETH now. Regardless of this, the AMPL in this pool has increased by a solid 148% with an additional 477 AMPL earned from liquidity rewards.
  • Likewise, the sharp drop in ETH against BTC has caused the WETH in the Balancer WETH/JRT pool to collapse by 75%. Still, there is a 16% increase in JRT tokens with an additional 823 JRT earned in rewards.
  • The situation is equally similar in the ETH/BNT Bancor pool with ETH dropping by over 50% from the initial 2.12 ETH I had deposited. However, the total number of BNT has increased by 115% and has delivered an additional 13.5 BNT in rewards on top of this.

 Now, let's take a look at the $ side of the experiment:

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FYI:

  • The TOTAL includes all the Total Accumulated Rewards

Key Takeaways:

  • We can instantly see that over the 16 weeks I am up by a total of almost $1400. This is a 19.5% profit.
  • Both the Balancer and the Kyber returns have dropped quite steeply. On Balancer, I am down by almost 44% and on Kyber I am down 47%. These are the sharpest drops in all of the DeFi platforms I have deposited in.
  • Luckily, the 84% return on the Aave platform helps to make up for these losses. We can see that I am up by a total of 83.5% and have made $838.70 which includes the $58 accumulated reward.
  • As I expected, the highest returns are still in the AMPL Uniswap Pool in which I have netted 144% and made $1530 - $578 of this comes from the Ampleforth Geyser rewards program, which is also the highest rewards I have earned. 
  • The lowest positive return still comes from lending SNX to Compound as we have seen a small 1.7% increase with $12.30 coming in rewards.

Well, that’s all for now folks! 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

 

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Brawnd0
Brawnd0

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