This medium will outline the first phase of our Farming strategy.
The goal here is to build the treasury at a steady pace. Given that we are less than 24 hours old, the current and incoming volume will be paying EXPO holders so much they will be considering how much more of their ugly boss they can take.
So, to bootstrap our treasury and maintain a strong and profitable portfolio of assets, even in these rocky times, we have deployed the following strategy.
Feel free to follow along at expocapital.eth — DeBank.com is best for now as we are really pushing the boundaries of what it means to be a FaaS and venturing onto chains that ZapperFi hasn’t even integrated yet. This is all in the spirit of exploration and supporting the industry…
Actually, that is a load of shit… we are going where others won’t, to get you the yield that is “just too much effort” for the average farmer.
Thesis for this early stage:
We have made a heavy stablecoin position to get us through the volatility. Around 63% is currently in stables earning the highest yield there is on the market. The rest are in positions either paired to a stablecoin to mute volatility or in positions with higher APY which will outrun any downturn or IL over a longer duration.
Emerging alternative L1s and even emerging opportunities on Layer 2’s are heavily incentivising users to come and try out their platforms by liquidity mining and incentive programs. Yum, yum.
We have deployed a heavy base of stables utilising the FRAX-USDC LP demand on Fantom. There is a strategy that will go live in the next few days which will see up to 80% yield on one of the stablecoins mentioned… See, even before they go live, we have sniffed them out, we will be first and we will soak up all the yield.
Why so vague about the next stable strategy? Well, we put a lot of time and effort into this whole thing and people could just read this, front-run (or try) and then shit in our pool, diluting the yield.
So, you will just have to keep tracking the DeBank wallet.
Potential ve(3,3) Airdrop Strategy –
Deposit wFTM into yearn- receive yvWFTM — Deposit yvwFTM into Abracadabra — Borrow 50% in MIM — Deposit MIM to yearn
This is a humble APR but if this grants us access to the ve (3,3) airdrop we have endless possibilities. We can lock these tokens, sell them at a profit or add to these tokens with LP positions and liquidity mine for more SOLID (Andre x Dani project).
I think this is the most optimal strategy to game the airdrop. Although it could be for nothing I am willing to take the risk. I think this covers 2 of the fairest projects Yearn and Abracadabra (whilst also being Andre and Dani projects and both fair launch). If anyone airdrops these tokens to their users it will be these guys.
On top of this, we have pushed a lot more MIM (non-leveraged) into the single-sided vault.
Also see Tweet: https://twitter.com/danielesesta/status/1481718154090975232?s=20
MIM-FTM LP — Muted volatility position on FTM, expecting great yield and protected downside.
PTP-AVAX LP — Another very highly anticipated project paying out a large yield paired to the native AVAX token. We should be printing with this one…
METIS-NETT and NETT-USDT LPs — Great overall exposure to the METIS ecosystem which is a pain in the arse to bridge but I couldn’t care less. More yield for us. The idea of pairing a native token (METIS) with the leading DEX (NETT) has fared well on every chain I have explored. NETT-USDT LP is paired with a stablecoin as there is high inflation on the NETT token and hence we will be in a position of muted volatility. Both APYs are excellent.
BTRFLY — Staked. With the reduction in APY (great for longevity), 0xSami (founder) organising the largest whale to OTC trade when he wants to sell to prevent any dumping plus the latest “Hidden Hand” update it is hard not to be bullish on what should be a $1bn project… I believe I will propose we stack more xBTRFLY in a governance vote.
BENT- I think Bent Finance and BENT are incredibly undervalued at this point and do intend on buying. The ascending triangle at the minute does not scream “entry” to me at this moment. I would rather buy higher once we confirm a breakout.
2SHARES-FTM LP — 5% allocation in a degenerate play on Fantom. Tomb fork but with a vault on beefy finance. Paying us 8% a day. Rewards will be harvested each day and added to the treasury.
I don’t want to highlight our next phase once we get to a treasury of $200–500K just yet to prevent copy-pasta farmers.… let’s just say a lot of projects will be paying the treasury each week which will be sold and dividends paid out to the loyal EXPO holders.
Dividends will gradually increase, that goes without saying. As more volume comes in and more reflections to the treasury wallet occur we can create larger and larger concentrated positions generating larger yields and more dividends for all of you.
We have 3 highly anticipated initial coin offerings, token generation events (whatever you want to call them these days), which can be used with the protected funds. I think these will do multiples and this profit can be returned to the holders.
That being said, it doesn’t take a genius to work out we are still very much in protection mode. We just need to get through these times and protect the treasury at all costs before we deploy to riskier and lucrative plays. After all, if we go all out and destroy the treasury there will be nothing to go around once dividends begin.
Ideally, I want to have EXPO holders be comfortable holding knowing they are getting paid a FAT weekly wage on top of their reflections too. Just like all the OHM forks promised you when they sold you the dream, we will do it.
Speak soon,
Anon (for now) Farmer
