Hi all,

Very exciting, because today I am gonna share my very first results! After setting everything up last week, and introducing my balances and strategies the week before, this week we will finally go into the first results.

DEFI STAKING

Let's start with the simple part, the DEFI staking of DOT on beefy.finance.

I deposited 3.25 DOT, now it's 3.28 DOT. Fee was about 0.029616 BNB and it has been exactly two weeks. So we made: 0.82% in two weeks, which amounts to an APY of 23.5%. Although the BNB Fees are quite high (compared to other DeFi), I am not planning on selling DOT in the next few months, so we will definitely profit nicely from this strategy.

LIQUIDITY PROVIDING

Now let's move on to the more interesting part. The liquidity providing!

I started with LP tokens on BTC/BNB and SPARTA/BNB. This week I added ADA/BNB and BUSD/DAI as well. Now I have been testing staking, unstaking and harvesting Cake/SPARTA quite a bit, which all incurred some extra BNB gas fees, so we will analyze the results 3 times. First time as is, i.e. including all the fees. Then we will look at them without the extra fees (so the results someone with the same investment sizes as me can expect) and the last time we exclude all the fees (the long term results or the results someone with bigger sizes can expect).

While analyzing the results, we must note a few things:

- SPARTA outperformed BNB by a lot (more than 2x) -> BAD for the LP token, it prefers two assets that hover around each other. The token only lost 6% so I think it will perform good in the future.

- BNB outperformed BTC by a lot (about 1.8x) -> Again, BAD for LP token.

- SPARTA/BNB and BTCB/BNB have been in for about 2 weeks.

- ADA/BNB is just in for 3 or 4 days, so can't say too much about it yet.

- BUSD/DAI is just in for 1 day, can't say too much about it either. Since they are both stables I expect the best results from this pair.

- These results are created with https://yieldwatch.net/ I do not expect them to be exact. For example, I know that without fees I am in profit for the BUSD/DAI pair, but this isn't reflected here yet. However, they should be a very good approximation.

So my conclusion, the impermanent loss on pancakeswap seems to be negated by the cake in the short run (weeks), and in the long run (months) the LP tokens will become profitable on their own as well, will definitely continue.

For SPARTA I am not sure yet, the project is still very early (GET IN!) and therefore I am not sure if the liquidity is enough to generate enough fees to cover the impermanent loss. However, losing 6% on a 2x move isn't the worst. I think one or two months from here, I will be better of than just hodling. So let's come back to this one after the next DEFI update. Note: Next DEFI update I will just give the results including all the fees. It is a bit of a pain to keep track of the results in multiple ways.

As always, if you know a project which you think is worth it and want me to test out, please leave a comment!

NEXT WEEK: We will have a look at the results on NEXO and CELSIUS and give a update to my strategy, this will include a visa debit card...