The Club1BCH Treasury - Auto-financing with LAW Punks and Tango

By PVM | Mind Puzzle | 12 Jan 2022


Every organization, in every field, thrives to be financially independent and aims to auto-finance their activity. Back in January 2021, when Club1BCH was "created", we had no idea how our small social experiment will turn up. Things suddenly took off and we started a movement based on positivity and quality. Club1BCH Q1 2021 - Genesis and events presents the journey between January and March 2021, and how a comment made this happen.

b19ca1d5f63bf055d30769023e59cdff464b03b5e865d547499cabba71588c6a.jpg

At the end of November we received a kind donation from Jessica Martinez, a person who's been part of the Cryptoverse since 2011. She kindly shared 1 BCH for the Club's December events and this motivated us to "pay it forward!" because sharing is caring!

Image

One Bitcoin Cash was available and there were about 3 weeks to go before sharing prizes and tips with the BCH community. I don't like lazy money so the only option was to make that $BCH work! 

What will be the next new thing? I would say punks ... and the most affordable punks were the LAW Punks by BlockNG. The floor price was 0.12 BCH at that time and I wasn't ready to spend 0.6 out of one Bitcoin Cash on NFTs. I looked for an alternative option and after a tough negotiation with Mr.Trenzs... I got a sweet deal. Got 5 LAW Punks for a full staking team, 4 of them 1.2 BCH and an extra one offered for free. It was such a good deal that was paid in to instalments, 0.35 BCH on the day and 0.13 BCH weeks later.

Next step was to stake the Punks and earn $LAW, and I was surprised to see that I was sent above average humans. Filled the 5 spots for Proof of Punk and joined the fun! The female with sun glasses and Mohawk had 13 hash rate, the highest from the team.

474532b04dd7c94f1fe75fa0fc02fab7c418e7ae31d9d83b5684947927ed9b8f.png

The hash rate obtained was 48.178, and will generate some profit even at 0.462 $LAW block reward. At the time of writing, the LAW token reached a new ATH at $0.69. The December farming reward was 102 $LAW, approximately $70 at the average price over the last days.

262f798c7f348e11d0e52b2fc6ae5cacdade604ff35ca4ec11ba425fa8ab5fe5.png

BlockNG and the LAW Punks keep evolving as a project and the NFT floor price grows at the same pace as the token value. The latest floor price for common humans is at 0.499 BCH which raised the value of initial investments 5 times. With the floor price for LAW Punks got crazy, the Club1BCH assets are not valued at 2.45 Bitcoin Cash.

cf5aeb76f4099e495bf582ea93b48c288dc8092243cc4d57f55dd3d4d611f359.png

The second idea was to take advantage of the TangoSwap high APR for LPs and powerfarm some $TANGO. The BCH-Tango and xTango- Tango had the highest ARP from the list, making this two the perfect options. Paired 0.2 wBCH with 557 TANGO to create the first LP, and used the remaining BCH to create the Tango-xTango pairing

f552a099886e1da8efe12807dddba4ded1c12b42bb5c3011ff3930c8c4f30dae.png

SmartBCH has low fees and fast transactions, making it easy to play with DeFi products. On the day of staking, the APR for the two LPs was 2071% and 2192%. The wBCH-Tango pool shared 50 times more $Tango than the other pool.

cf1bce44abe1517ea4b08532325e9e2062c1691d4b03131e6eb8ca7bb6b24075.png

The strategy was to constantly add the farmed Tango into the Tango-xTango pool, and keep boosting the earnings. The deposit in this pool was 300 Tango, summing up at $60 due to the $0.20 price per token. The price I bought Tango was higher than today, and this investment lost 50% of the value. But you know what they say... you don't gain or lose until you sell.

a7827a96360d89ac42f3784e98cf0a29f50c391ab895b1f622f6b5af67004125.png

Using the BCHCC bridge to sent BCH to the smartBCH chain had a little advantage ... the $CATS airdrop. Two CashCats checks were waiting  to be claimed, summing up 71.71 tokens. When I said "a little advantage" ... I meant a little advantage, as their value is 0,25 USD.

76c76b244d0b2effebc2fc2abcc0d29dbc007e4af89f61462703144dc8b1abe6.png

The Tango farming went well, even with the big dip in value. As the APR dip in power, the earnings were lower and lower. Three weeks later and no price surge, so I had to accept the semi-failure and pull out the wBCH-Tango LP to sponsor the winter events.

36b3884dde2a55dd419853cc4bd712ef8deba9d2f64a149f1345f06051e85ac8.png

Semi-Failure? Surely not! I just want this sugarcoated! With 0.2 BCH + 557 TANGO going in and 0.076 BCH + 452 Tango coming out, this investment dropped from $150 to only $72 in just 3 weeks.

ac0da213fa54a4f48eefbb4b6dbea1388738ee8a09b30ceefd4e525dd7928798.png

I was just being over-dramatic with the failure of the LP, because in fact it generated enough $TANGO to cover most of the losses on the balance sheet. The initial investment was $210 and the value of those tokens after the market crash and the impermanent losses was only $97. However, I am not afraid of the dip... I am a dip veteran!

02f030968491fbace4f371ea0f5a0a6ac33aa9848d3897c5b212fdb64c280fc7.jpg

To summarize the birth of the Club1BCH Treasury, the one Bitcoin Cash was used to buy 5 LAW Punks and to farm $TANGO. Part of the farmed $LAW was sold and with part of the farmed $TANGO was used to pay the remaining 0.13 BCH from the purchase of the NFTs. 

The remaining $Tango and $LAW were used to sponsor the #Club1BCH December events. The total BCH used from the Treasury and shared throughout December was 0.55 BCH for all the events. The initial gift was spent wisely and now assets are slowly pilling up for future events! Have a look at the great things we achieved and how we spread festive vibes throughout the Bitcoin Cash community: Unwrapping BCH gifts for a better world!

Meet the winners of the Christmas cards competition by @bmjc98

BCH Logo Competition by @nheng1118

The Club1BCH SmartBCH Secret Santa and Winter Raffle

Club1BCH Christmas Celebration - The BCHampions!

Club1BCH & Bityard Events - Three Crypto Opportunities

Club1BCH Christmas event - fill your stockings with NFTs

d18d1d492d0b70280e5a7ff7b36b5ab4d62f2f2649c04d6d1e0c54c354b3a482.jpg

Club1BCH social media links:

Club1BCH Q1 2021 - Genesis and events

Club1BCH noise.cash Channel

Club1BCH on Twitter

Club1BCH website

Residual Income:

Create a Binance account

Join Splinterlands! 

PVMihalache Amazon Books

DeFi bounty at CakeDeFi with $30 DFI for new users

The fountains: PipeFlare ZCash,  GlobalHive ZCash  &  Get.ZEN

Publishing bundle: Publish0x,  readcashnoisecashLBRY & Presearch

4029272aab259f9df7f0d091512e70c36bc451edd86dfb4caaf3a805c7e346dd.jpg

How do you rate this article?

49


PVM
PVM Verified Member

Humble Farmer 🚜 Meme Lord 🐸 UMAster 🐔 CRE8R 🧱 Across Ranger 🌉


Mind Puzzle
Mind Puzzle

Think! ... it's still free! An amalgam of cryptocurrency, science, arts, news and other manifestations of human intellectual will be published on this blog. Sometimes I will add my personal opinions or midnight revelations

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.