Derisking II: Halfway there

The de-risking continues. Badger dropped just enough past the last major support lines last night that I felt compelled to pull a quarter of my funds out. I completely liquidated my Sushi LP, keeping the wBTC but converting the Badger to USDC via Binance. I spent a lot of gas. I haven’t even added it up: unstake bSLP, withdraw SLP (twice, as vfat mis-calculated the gas,) approve SLP on Sushiswap, withdraw liquidity, send Badger to Binance, trade Badger for tether, trade tether for USDC, withdraw USDC to wallet. My god, what a mess. Here’s hoping I can get the cost basis right on that one.

I’m not really sure what’s precipitating the selloff, maybe it’s people like me who are just profit-taking. There’s a lot of bBadger moving to Pancakeswap on BinanceChain, but that doesn’t require selling Badger, so I’m not sure what’s going on. I’m still keeping an eye on things. BTC is up today, which means that Badger is falling against BTC, but as long as it can hold in USD here I may hold on. If not, I’ll have to dump the remaining Badger LP. That belongs to commingled pool of funds that belongs to the “family business”, so I’d have to split the wBTC proceeds with them — USDC profits would be held for taxes and “management” fees.

I’m feeling pretty good about it even considering the heights from which it’s fallen, down about twenty percent overall, based on my eyeball figures, which mainly consists of a series of daily screenshots saved in a notebook. I’m now just over halfway to my retirement goal. I started going over the Curve vaults yesterday, trying to put some sort of risk matrix together based on the underlying tokens. I’m thinking some linear algebraic matrix to weigh each token might work, but I have no idea how I’d even lay something out like that in Excel. I’m probably overthinking it way to much as well.

I might as well just pick a Yearn vault and call it a day, but my brain is locked on the problem and won’t let go. The reporting end of it is probably what I’m going to be focusing on most. Once deployed, how to I monitor the funds that I have and the interest being generated? How do the web front ends for Curve and Badger work, and how can I build my own dashboards to track performance over time? Can I do something with TheGraph, or do I need to use web3 to write to a database or spreadsheet? Figuring out how to do that would be a valuable skill.

Leave a Reply

Your email address will not be published. Required fields are marked *