Welcome to the monthly review of my token portfolio, I started tracking this portfolio now 39 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 May 2023.

Crypto interests

The portfolio earnings reached $3369 this month, that's a 20% 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:

• 1785251 LFT from Lend Flare as rewards for supplying ETH and WBTC
• 5818 MON from Defi Franc as rewards from providing DCHF liquidity to the stability pool.
• 491 CRV from Convex Finance as reward to my participation to the cvxFXS/FXS, FRAX/FPI liquidity pools, locking CVX and staking cvxCRV.
• 0.514 ETH from GMX as reward from staking my GLP/GMX tokens.
• 56.74 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.
• 17.91 CVX from Convex Finance as interest on my shares of the FRAX/FPI, FXS/cvxFXS liquidity pools, cvxCRV staking pool and CVX locking.
• 17.082 LUNA from Terra as staking rewards.
• 14690 IOT from from my Helium access points.
• 128 ZKP from Panther Protocol staking.
• 0.22 AURABAL from Aura Finance as reward for locking my AURA.
• 0.294 ATOM as staking reward from my ATOM.
• 3.363 JUNO from my JUNO staking.
• 0.94 IMX from IMX as reward from stacking my IMX.
• 1.118 OSMO from Osmosis as staking rewards.
• 0.0156 UMAMI from Umami as staking rewards.

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

This month, the interest received came back to earth, at around 11.27% APR. The average on the last 12 month is still at around 20% APR.

Regarding the interest composition LFT(46.8%), MON(15.4%), ETH(12%), CRV(11.9%) and FXS(10.9) are the top contributors. The remaining sources are around 3%.

Transactions realized

Beginning of the month,

• I claimed my LFT and MON rewards from Lend Flare and Defi Franc and converted everything to ETH that I supplied at Lend Flare for around 24% APY

Middle of the month,

• I compounded my GMX rewards and reinvested the ETH rewards (a few $100s) into UMAMI tokens that I staked into Umami. I basically doubled my UMAMI tokens amount as their service is going to be released soon.

End of the month,

• I claimed my LFT and MON rewards from Lend Flare and Defi Franc and converted everything to ETH that I supplied at Lend Flare for around 24% APY
• Last day of the month, I finally was able to remove my FRAX/FPI funds from Convex and I moved all the funds into USDD/3CRV managed liquidity pool over Convex at Beefy for around 13.5% APY. I expect this change to improve the monthly interest by around $900.

Evolution of the portfolio value

• The portfolio finished the month with a loss of $8K which is -2.3%.
• The performances of the main components of the portfolio were fairly different: ETH(+1.58%), WBTC(-2.28%), CRV(-8.12%), FXS(-14.71%), CVX(-16.5%), GMX(-23.29%). It is interesting to notice the ETH had no negative month since the beginning of the year.

• The stable coins allocation is now 50.4%. I don't detail my stable coin allocation, but it's basically a mix of DCHF, USDC, USDT, DAI and USDD.
• 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 what is not autocompounded 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+2.3% this month, lower than the historical average of +6.85%.

Things to look forward in June

In June, I'm looking forward to the evolution of the macro situation as usual. I'll try to stick to my portfolio allocation strategy and monitor my new stable coin investment in USDD.