Welcome to the monthly review of my token portfolio, I started tracking this portfolio now 38 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 April 2023.

Crypto interests

The portfolio earnings reached $4226 this month, that's a 77% decrease 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:

• 1657016 LFT from Lend Flare as rewards for supplying ETH and WBTC
• 6451 MON from Defi Franc as rewards from providing DCHF liquidity to the stability pool.
• 836 CRV from Convex Finance and Lama Airforce as reward to my participation to the cvxFXS/FXS, FRAX/FPI liquidity pools, locking CVX and staking cvxCRV.
• 0.353 ETH from GMX as reward from staking my GLP/GMX tokens.
• 60.32 FXS from Convex Finance as reward to my shares of the FXS/cvxFXS, FRAX/FPI liquidity pools and CVX locking. I also received my brides from Votium as FXS thanks to Lama Airforce.
• 20.69 CVX from Convex Finance as interest on my shares of the FRAX/FPI, FXS/cvxFXS liquidity pools, cvxCRV staking pool and CVX locking.
• 4770 IOT from from my Helium access points.
• 2.34 HNT from my Helium access points.
• 0.0547 GMX from GMX as reward from staking my GLP/GMX tokens.
• 0.295 ATOM as staking reward from my ATOM.
• 0.2325 UMAMI from Umami as staking rewards.
• 3.363 JUNO from my JUNO staking.
• 1.86714 LUNA from Terra as staking rewards.
• 1.18199 OSMO from Osmosis as staking rewards.
• 0.25 AURABAL from Aura Finance as reward for locking my AURA.
• 0.28 IMS from IMX as reward from stacking my IMX.

The following diagram depicts the evolution of the received monthly crypto interests:

This month, the interest received came back to earth, at around 13.85% APR. The average on the last 12 month is still at around 20% APR.

Regarding the interest composition LFT(34.1%), MON(18.8%), CRV(17.7%), ETH(15.4%), FXS(11.2) are the top contributors. The remaining sources are around 2.8%.

Transactions realized

Beginning of the month,

• I claimed my LFT and MON rewards from Lend Flare and Defi Franc and converted everything to DCHF that I staked in the Defi Franc stability pool.

Middle of the month,

• I claimed my LFT and MON rewards from Lend Flare and Defi Franc and converted everything to DCHF that I staked in the Defi Franc stability pool.
• I compounded my GMX rewards and reinvested the ETH rewards (a few $100s) into IMX tokens that I staked into IMX. The APY is crappy (2.5%) and you need to be trading NFTs of some of their web3 gaming ... but I do and IMX has big plans with their ZK rollup.

End of the month,

• I claimed my LFT and MON rewards from Lend Flare and Defi Franc and converted everything to DCHF that I staked in the Defi Franc stability pool.

Evolution of the portfolio value

• The portfolio finished the month flat with a gain of $148 which is +0.04%. Basically the interest gains were absorbed by the capital losses.
• The performances of the main components of the portfolio were fairly different: ETH(+0.48%), WBTC(-1.31%), CVX(-2.9%), CRV(-4.57%), GMX(-7.94%), FXS(-12.33%)

• The stable coins allocation is now 50.3%. 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.
• 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 in this order GMX/CRV/CVX/FXS/AURA/UMAMI. This month I'm adding IMX 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 lost a bit of margin this month compared to the capital invested + earnings received.

The portfolio performance is+0.04% this month, lower than the historical average of +6.85%.

Things to look forward in May

In May, I'm looking forward to the evolution of the macro situation as usual. I'll try to stick to my portfolio allocation strategy but I'm interested to see what will happen with Defi Franc and their new liquidity reward policy as my FRAX/FPI liquidity will unlock end of the month.