April Fools’ Day

I have no jokes and am lame. Alas.

New Curve rewards rates went live. I’ve got funds in the Yearn IronBank vault making the highest reward rate. I’m wishing I had done the same with this USDP vault, but it’s $200-300 in gas to unstake. Whoops. Guess I’m in it for the long haul and will just have to keep farming. Learn from my mistake.

I also moved into the Ellipsis.Finance pool on BSC. It took some work to move funds over to BSC, it involved a VPN, Binance, and several test withdrawals to make sure that I was doing everything right. Gas was 300 gwei and I didn’t want to take a chance with the BSC bridge, so CEX was the way to go on this. It was nice once I was on there though, being able to stake funds for pennies.

I feel like I might be a bit late to the party. The 3pool APY is already down under 100% APY. My plan was to stake the EPS shares for that ridiculous gain, we’ll see how it goes. These funds are part of my high-risk C tranche. Ellipsis is a sanctioned clone of Curve, so I assume more assets will be moving there. I’ll be taking a deeper dive into BSC projects, and probably other cross-chain projects like Matic in the future.

I’m continuing to farm in Integral as well. APY is up in the air as there’s nothing to trade right now. This is my other C tranche. They originally had a dollar value based off the pessimistic APY, but removed that when they added the optimistic APYs. Trading should go live in a few more days, I expect. They’ve got $600m in liquidity right now, but are trying to be careful with the rollout.

The FEI Genesis launch is live. There’s about two days left, at which point all of the deposited ETH (currently 85,000) will be converted to the FEI stablecoin as well as TRIBE governance tokens. By default, Genesis participants will gain a pro-rata share of 10% of the TRIBE tokens, but they can also elect to pre-swap their FEI for TRIBE tokens. Right now over half of the deposited ETH is set to pre-swap. The game theory here is what’s going to happen when the liquidity pool goes up. Will TRIBE dump as Genesis participants unload on the pool, or will it moon as more people buy TRIBE to stake LP? Who knows, honestly, I’m not sure what the play is here, and I haven’t committed any funds yet. This is too risky for my stablecoin fund, but I may consider a two percent allocation from my other holdings. I still don’t know whether to go all FEI with the pro-rata TRIBE bonus, 50/50, or all TRIBE. I’ve still got two days to figure it out.