So we are off to a great start this morning. I got a great night’s sleep, basically slept like a rock till 7:30AM, and meditate outside before popping open the laptop. It’s a beautiful day outside today, high sixties and cloudy. There’s a nice breeze outside, and everything is so green.
I had a nice voice chat with a couple of the potentially bigger SAIADao, I can’t say again how excited I am about doing this. There is so much opportunity. For right now though, there isn’t much to do for it other than make sure the proposals are moving through.
I have been trying to learn as much as possible about Solana. I’ve been reading the docs at night and listening to podcasts about it. I’m feeling really bullish on it, and cursing the fact that I got stopped out of a trade on it and Serum so long ago. Alas.
I have a huge tranche of funds that I pulled out of my brokerage IRA, but now Alto is holding it up, and haven’t responded to my emails for two days. It’s all the more frustrating because I’ve seen them do it in one day before. I’m already missing out on a moderate BTC run, and ETH is at ATH, so I’m really feeling anxious. Once that last ACH clears, then it should only be a few hours over to my crypto exchange, and then I can deploy the funds.
Index Coop’s FLI token, a 2x leveraged ETH derivative, has been a very good investment. I bought in with ETH at $2000, and so I’m up quite a bit here at $2700. I think that’s going to be my preferred play for right now.
Rune is exciting as well, but I’m not paying as much attention to it since I don’t really have enough right now to do any major staking. I wanted to use it to put some native BTC to use, but the return right now is quite modest from what I understand.
I’m trying to figure out how much of my ‘bitcoin’ allocation I want in native BTC, and how much I want in wBTC. Native BTC is less risky, but the opportunities in DeFi are starting to show up. Badger launched a Yearn vault that is over 100% right now, including about 15% in native BTC, and that’s the best I’ve seen out there. It’s limited right now, so I’ve also got fund in Klondike wBTC/kBTC pool, Bancor’s IL-protected pool, and have been using Vesper.Finance’s vault as well.
I had originally planned on putting 20% of my funds into DPI, but BasketDao seems like a much better deal right now. It’s got interest-bearing versions of the same components, and the farming opportunity for its BASK token is much more lucrative. I did take advantage of the Zerion DPI/INDEX cash back promo last week, but as soon as that airdrop clears I’m throwing my DPI in the converter to be make bDPI.
And Alchemix, oh Alchemix. I am probably going to do something here a bit crazy. Now that the Star Atlas NFTs are on OpenSea and I’ve secured the first one for SAIADao, I’m looking at buying a few extra. They have 50-pack for poster one on there for $3200, that I might purchase and try to flip. I could post $6400 in Alchemix, take out a loan, buy USDC and buy the 50-pack basically risk free. Once the sale is ended I could post half of my posters at maybe twice the price and see if they sell. Or maybe I’ll bundle them and make Tier 1 or Tier 2 bundles. There’s a lot of ways to go about it, but starting with an Alchemix loan might be a way to protect myself from the downside.
Worst case scenario, I’ll have fifty Tier 0 rewards that would redeem for in-game rewards worth about 90% that I could sell as well. There’s a lot of opportunity here. I haven’t breached the subject of using an Alchemix loan to cover the full $500k NFT purchase; we don’t have the funds, and it’s not worth my energy to try and sell them on the possibility at this point. We’ll see how things go for the next few weeks, my attention is better spent elsewhere for now.