I've put $7000 into 7 DeFi Platforms [Week #24]

I've put $7000 into 7 DeFi Platforms [Week #24]

By Brawnd0 | CryptoLetter | 15 Jan 2021


24 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 #24 of this experiment, I decided to produce another update for you as BTC makes another series of attempts to climb to $40K.

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:

  • The total number of $DAI tokens in the Compound Finance appreciates in a super slow manner. This has resulted in around 0.165 claimable $COMP (around $35) - around 0.028 COMP higher than 6 weeks ago.
  • For the Uniswap AMPL pool, it seems that I'm down1 ETH in total from the Impermanent Loss. This is because AMPL has been dropping quite significantly against ETH over the past few weeks, making my initial investment of 2.5 ETH drop to 1.5 ETH (a 40% drop). Luckily, the AMPL in the pool has increased by around 1642 AMPL (a 490% increase) as it sits at 1977 AMPL, which offsets the ETH loss. Additionally, I have around 675 AMPL to claim from the latest Beehive V3 Geyser.
  • 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 6 weeks ago. The JRT balance has increased 20.22% but It won’t be offsetting the 75% ETH loss. However, there are 1085.6 additional JRT in rewards that I can claim.
  • 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 surged by 132% as it now holds 743 BNT, up from the 320 BNT I entered with. 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:

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FYI:

  • The TOTAL includes all the Total Accumulated Rewards

Key Takeaways:

  • We can instantly see that over the 24 weeks I am up by a whopping $10,470. This is a 146.11% ROI - up from the 33.71% ROI I saw on week 18. This is largely to do with the fact that SNX (that I lend via AAVE - important! I didn't invest in $AAVE tokens) has surged since the last update, alongside Bitcoin - helping my gains to go through the roof. The price of SNX was just $2.45 when I entered. It has since skyrocketed to around $15 today.
  • My only loss in this experiment is coming from the KyberDAO KNC staking. It is down by around $297, almost a 30% drop. This is because KNC was valued at around $1.52 when I first entered but has since dropped to $1.08 today.
  • The returns from the Aave protocol are now officially my largest gain. It is up 573.75% since I entered, giving a profit of around $5,760. As mentioned, this is largely due to the fact that SNX has surged quite significantly recently. The additional $270 in rewards has also helped.
  • The liquidity provided to the AMPL/ETH Uniswap pool (and Geyser) is now my second-largest gain. So far, I have profited by 305.70%, up from 190.11% in my previous update. This means that I have gained almost $3,252 on my initial investment. There is an additional $626.50 from the Geyser liquidity mining rewards I can still claim here.
  • My rewards from Bancor have also surged quite significantly since my last update. Previously, I had around a 19% ROI. This has now increased to a whopping 140% return on my investment, profiting me around $1,396.20.
  • The ROI on the Balancer pool is up by a small 22%, netting me around $228 in profit.
  • The smallest gains come from Compound which has netted a 3.82% profit (including rewards) and Curve which has netted 8.94% from the $74.30 I’ve seen in rewards.

Well, that’s all for now folks! I am more than happy with my $10,500 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

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Brawnd0
Brawnd0

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