Today was “busy”, but not in a productive way. I didn’t get nearly as much done as I wanted to for work, but the last 24 hours have been pretty effective in a spring-cleaning way. I blame Daylight Savings. Yesterday the entire fam washed the car and cleaned the yard, did a bunch of cleaning around the house. I even did our books. Today I cooked dinner for the fam and the kids’ friends down the street, and they played outside with such joy that Missus and I couldn’t help but smile.
I also made my way down to my bank to start a wire transfer for my 60-day IRA rollover. This process has been so excruciatingly slow. And I just had to go down there the first weekday after everyone got their stimulus checks. I noted today that they were calling it the “Rescue America Act”. I’m amazed that it took so long for this bit of trivia to become known to me. Anyways, it should take two days for the wire to complete, another four days to transfer to the LLC bank, then another ACH to FTX and I’ll be able to load up. Just in time for my new Lattice1 wallet to arrive.
I sat down last night with my spreadsheet and tried to make sense of all the things I’ve been doing with Badger. I was trying to prep myself to take some profits. Since most of my capital is locked up in LP, I’m very concerned about impermanent loss. And the rewards are starting to get to the point where it’s not worth it for me to hold. This last weekly “harvest” was rather underwhelming, considering gas prices. I was working my way to a plan to exit my liquidity pools so that I’d have just wBTC and Badger, but then I saw a Tweet that the $CLAWS product will be released soon.
I can’t find the YouTube video which describes it, but basically we’ll be able to mint some sort of derivative using out BadgerDAO LPs. These will be 60-day tokens that will expire in 60-days, so we may be able to sell them for stablecoins, then farm these tokens. I’m not really sure I understand it quite yet, but if they launch by April 1st then I may decide to hang onto my LP tokens and try to take advantage of some stablecoin yields.
I’ve been liquidating positions to USDC and wBTC. USDC is going toward my one-year “retirement” runway, and the wBTC is going toward the “pay off the mortgage” funds. I’m looking at ways to stake them for yield, which I consider safer than altcoin plays right now. I may risk some of my IRA funds on some potential altcoin plays if it looks like altseason is still in play, but for the most part I’m just going to be farming tokens. Staking wBTC or USDC for liquidity mining is relatively safe, but I’m going to need a lot to make it worthwhile.
There’s so much I want to do. I literally can’t think of much else beyond crypto these days. In addition to keeping up with what’s going on with bitcoin and macro, there’s Ethereum and DeFi. I really want to take a look at what’s going on with Polkadot, and what’s going on with Rune and Avalanche seems really interesting as well.
TokenSets is taking a lot of my time as well. I just had two people reach out to me who jumped into creating a set without understanding how it works. My contact on the team has promised me that some goodies are coming, so we’ll see how that plays out. It’s just so sad to see people jumping into wasting the gas to make this protocol without understanding how it works.
For now, all I can do is keep my head down and keep grinding. There’s lots of work to do.