Welcome to the monthly review of my token portfolio, I started tracking this portfolio now 63 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 2025.

Crypto interests

The portfolio earnings reached $1357 this month, that's a 61% 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:

• 902 CRV from Convex Finance/StakeDao as reward for contributing to the XAUt/PAXG, ETH/pxETH, msETH/ETH and EBTC/tBTC liquidity pools on Ethereum, and WBTC/tBTC liquidity pool on Arbitrum.
• 0.0016 WBTC from Turbos as reward for my contribution to the LBTC/wBTC liquidity pool on Sui.
• 1.152 GNO from my GnosisPay Visa debit card cashback.
• 216 AERO from Aerodrome Finance as reward for contributing to the WETH/msETH liquidity pools on Base.
• 0.3813 AAVE from Aave as reward for staking some AAVE and GHO.
• 37.11 CAKE from StakeDao as reward for my contribution to the cbBTC/WBTC liquidity pool on Ethereum and Arbitrum.
• 3.78 GMX from GMX as reward for staking my GMX tokens on Arbitrum.
• 0.0107 ETH from Curve Finance as reward from contributing to the EURe/xDAI/USDC/USDT liquidity pool on Gnosis.
• 14.35 JTO from Kamino Finance as reward for my contributions to the JitoSOL/SOL liquidity pool on Solana.
• 10.54 BADGER from Convex Finance as reward for contributing to the EBTC/tBTC liquidity pools on Ethereum
• 8.9 BAL from Aura as reward for my contribution to the EURe/sDAI on Gnosis.
• 1.9 HNT from my Helium access points.
• 12.78 AURA from Aura as reward for my contribution to the EURe/sDAI on Gnosis.
• 0.2334 ATOM as staking reward.
• 4.8 LUNA as staking reward.
• 0.2663 CVX as reward for contributing to the EBTC/tBTC, msETH/ETH and XAUt/PAXG liquidity pools on Convex Finance/StakeDao.
• 0.70 USDC from my real-estate investments on RealT.
• 2.59 JUNO as staking rewards.
• 0.71 OSMO from Osmosis as staking rewards.

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

This month, the annualized interest is 3.9.% APR. The average on the last 12 month is now at 9.6% APR.

Regarding the interest composition, this month the main sources are the followings: CRV(44.5%), WBTC(12.5%), GNO(10.9%), AERO(8.4%), AAVE(7.1%) and CAKE(6.3%) are the top contributors. The remaining sources are around 10.3%.

Transactions realized

Beginning of the month,

• I move XAUt/PAXG from the Gold stable pool from Curve Finance to Convex Finance for a bit more interest.
• I compounded my GMX reward.
• I swapped my remaining ZKP for ETH as I think ZKP is too late and won't recover.
• I moved my wBTC from Cetus to the LBTC/wBTC liquidity pool on Turbos on SUI.

Middle of the month,

• I removed my cbBTC/WBTC from StakeDao on both Ethereum and Arbitrum as the interest rate dropped and moved part of it into tacBTC on Turtle Club.
• I claimed my CAKE and CRV rewards, converted everything in WBTC and invested them also on Turtle Club.
• I moved the rest of the liquidity into EBTC/tBTC on Convex Finance and WBTC/tBTC on StakeDao for around 4% APY.

End of the month,

• I removed my liquidity from the EURe/sDAI liquidity pool on Aura as the interest rate dropped and I moved them into the EURe/xDAI/USDC/USDT on Curve Finance for around 10% APY in ETH.
• I swapped the AERO, BAL and AURA reward to EURe and added it into the EURe/xDAI/USDC/USDT on Curve Finance as well.
• I remove my ETH liquidity from the msETH/WETH liquidity on Aerodrome Finance on Base and moved it on StakeDao on Ethereum for around 15% more APY.
• I staked my GHO reward on Aave.

Evolution of the portfolio value

• The portfolio finished the month with a gain of $47K which is +12.7%.
• The performances of the main components of the portfolio were all good with ETH and AAVE doing very good: WBTC(+9.6%), ETH(+38%), GMX(+6.1%), SOL(+4.5%) and AAVE(+42.5%).

• The stable coins allocation is now at 19.8%. It is a mix of GHO/xDAI/USDT/USDC/EURe/PAXG/XAUT.
• It is still in my target range of 15-25%. I'll reinvest the monthly interest received in stable coin if the stable coin allocation is lower than the range, in non-stable coins if it is higher than the range.
• The ETH allocation increased this week with the good performance, I think I'll keep an allocation between 15 and 25%.

Here is the portfolio value compared to the value invested and the interest received. This month the value invested decreased again because of the spending done on my GnosisPay Visa debit card and no fresh funds added.

The portfolio performance is +12.7% this month, the historical monthly average is now +6.7%.

Things to look forward in June

May was very good and saw the return of ETH outperforming BTC. I'll probably reinvest rewards into ETH instead of BTC for a while if this continues.