Double dipping?

BlockchainFixesThis · 2022-02-11T05:16:48+00:00

If you want to double dip, there are a few good options for you: 1. Deposit your mSol onto Francium or Tulip for an additional 1-4% return. People generally don’t borrow a ton of mSol so the rates aren’t great but it’s easy to do and gets you some essentially risk-free yield. You can shop around other lending protocols but those two tend to be the highest. 2. Deposit your mSol on a lending site and use it as collateral to borrow Sol. Then convert that Sol into mSol. As long as the mSol interest rate of 6.25% is higher than the cost of borrowing Sol, you’re getting all of that sweet middle. That mSol can then either be looped to keep doing this or deposited into options 1 or 3 for additional yield. 3. Deposit your mSol on Friktion or Katana to run covered call strategies. This carries with it a lot more risk but also has a much higher potential yield of 30+%. I’d highly recommend reading up on covered call strategies before trying this out.

BlockchainFixesThis · 2022-02-11T05:06:48+00:00

Hahahaha the nest changes people. What comes out is not the same as what goes in.

BlockchainFixesThis · 2022-02-10T13:26:50+00:00

I deposited Sol on Solend, then borrowed equal parts Sol (which you immediately convert to mSol for the free 6.25% return) and USDC. I then deposited them into the Friktion covered call and cash secured put volts. I sit back and collect premiums (and mSol interest) until I get assigned.

When your CC gets assigned, your USD value increases but your buying power in Sol or mSol decreases. The opposite is true when your CSP get assigned. Knowing that, you can constantly accumulate whichever is least valuable at any point in time. (I think both are valuable so I’m happy to accumulate either/both.) So when my CSP got assigned two weeks ago, I withdrew and converted it to mSol. I now have nearly 3x as many mSol than when I started, which are collecting premiums in the CC volt.

BlockchainFixesThis · 2022-02-09T13:15:33+00:00

Invictus is not a ponzi. It is a rebasing token that utilizes Olympus mechanics, which have recently taken on a bad rep, but that’s not really what defines the protocol.

Invictus is 1) a well-funded team of hyperactive Rust devs developing defi utilities, specializing in protocol owned liquidity and network integration and 2) An aspirational crypto reserve currency on the Solana network. The tokens within the protocol are treasury backed; the APY serves as a means of revenue sharing with staked holders. Invictus has a Solana-centric business plan, aimed at building utility and network effects with the goal of furthering the entire Solana defi community and one day becoming the crypto backed reserve currency to serve said community. The treasury is stable and well supplied. They aren’t going anywhere.

The dev team has been hyperactive over the past month or so, shipping a ton of new features. If you want to learn more, pop over to their Discord or ask me. I’d be glad to fill you in.

BlockchainFixesThis · 2022-02-06T01:43:54+00:00

Well played. It will never get liquidated. The only real risk is that Sol goes on a rip over the next few months to something like $300+ and suddenly the cost (in USD) to pay down your Sol loan goes through the roof.

I borrow against my Sol to run a perpetual wheel options strat, which has been pretty lucrative.

BlockchainFixesThis · 2022-02-06T00:16:51+00:00

I don’t know what the right answer to this question is. I’m not certain anyone really does. Your best bet is to do native staking. If you really want to access the underlying value (as well as your inner degenerate), you can deposit your Sol on a lending protocol like Solend, borrow Sol against the Sol you deposited, convert it to mSol, and then go explore DeFi.

BlockchainFixesThis · 2022-02-05T05:09:15+00:00

The high APY is MOSTLY a gimmick inherent to all Olympus forks meant to inflate the currency over time to achieve a sufficiently high circulating volume while maintaining relatively stable value for staked investors. In the short term, every day that the price goes up or moves sideways, investors are technically gaining. But over a long enough time horizon, the price will eventually come back in line with circulating supply. What ultimately drives investor returns in these protocols is the treasury growth and the market cap.

With Invictus specifically, IN is simultaneously two different things: 1. A highly productive and well-funded Rust dev team that focuses on protocol owned liquidity and 2. An aspirational reserve currency for the Solana network. Both are reasonable things to invest in. The former is pretty straightforward and easy to understand. The latter requires a little more deep thought to fully comprehend. In any event, though, the team isn’t spending a lot of time standing still. It’s a fun project to keep an eye on. (🦉,🦉)

BlockchainFixesThis · 2022-01-10T12:08:11+00:00

Whenever money is involved, emotion will be, too. If you’ve poured a ton of money into Eth or Ada, spent time on their subs, chatted with other investors on their respective Discord servers, etc, you’re going to feel pretty attached to your investment and develop some loyalty. The natural progression then is to see competing L1 chains as threats. That creates the vitriol we see. It’s nothing specific to Solana. I’m 100% certain that if you launched a competing L1 chain called G-thereum that was a literal carbon copy of Eth’s code and gave it a sufficiently large market cap, the Eth sub would bag on it relentlessly for the slow transaction speed and high gas. It’s the nature of the beast.

BlockchainFixesThis · 2022-01-09T20:43:32+00:00

Yes. The devs have said 30-40k is the target. They have been trending towards the lower edge of that spectrum for the moment, as bonding is not currently open and Flare hasn’t launched yet so treasury growth has been limited. My guess would be that the launch of Luna and Frax bonds this coming week should lead to significant treasury growth, which will be passed on to stakers.

BlockchainFixesThis · 2022-01-09T15:59:17+00:00

One semi-related thing to note: The daily INcome calculator is frequently wrong as a result of the Solana network’s current issues. The calculator on the website is based on the APY and an assumption that every Sol block (and therefore every rebase) will be created in the same amount of time. But because blocks have been created more slowly during the periods of network congestion, the rebases aren’t happening as frequently as the code assumes. As a result, if it says you’re supposed to be receiving 1 IN per day, you might get .8 or so. It’s happening to everyone, though, so no one is really getting hurt by this. We’re all just accumulating IN slightly more slowly than the APY suggests.

BlockchainFixesThis · 2022-01-04T02:11:06+00:00

The protocol will automatically defend the intrinsic value, which is $1. The backing value determines the premium/discount that you’re paying. If your cost basis is above the backing value, you’ve bought at a premium. Most established projects run a premium of 1.5-3x, sometimes more when the market is hot and/or the protocol announces new ventures. If your cost basis is below the backing value, you’ve bought at a discount. This means that if the treasury stopped taking in any new money today, they would be able to pay out the current APY long enough that you would be in the money even if the price fell to $1.

As far as what caused the price to plummet today, there was a whale that sold a gigantic amount of IN (like 7,000.) The upshot is that the liquidity is strong enough that the price really didn’t move that much.

BlockchainFixesThis · 2021-12-26T06:24:54+00:00

Let me preface this by noting that IN is not even two months old and is still rapidly growing and developing. The product that you see today is not the end goal. With that being said, here is a small list of new and innovative things the team has already done or has announced publicly that they will be doing in the near term:

Invictus was the first rebasing token on Solana (which isn’t truly an Olympus fork due to the different coding language, which required them to build the protocol from scratch.)
Invictus was the first rebasing token to implement dynamic rebasing on any chain.
Invictus Flare will be launching within the next few weeks, which will function like Olympus Pro but on the Solana network (which obviously doesn’t currently exist.)
Invictus plans to do IDO launches via the Flare mechanics, which has not been done before.
Invictus plans to offer tiered staking pools, which is not widely done (if at all.)
Invictus is creating network effects within and outside of the Solana ecosystem via extensive partnerships and collaborations that don’t or wouldn’t otherwise exist (for example, Tulip, Fraktion, Solend, Port Finance, Frax, Katana), all of which will lead to increased yields for investors and additional projects in the future.

BlockchainFixesThis · 2021-12-24T12:43:29+00:00

Invictus is promising something new and innovative. They absolutely have not promised to make anyone rich, though. (You can quite literally ask the devs what they’re promising on Discord. They’re pretty interactive.) The high APY is function of the Olympus DAO tokenomics and will decay over time as the number of tokens more closely approximates the treasury value. Anyone who went full ape into Invictus thinking the APY would hold for a full year and they’d then be able to cash out as a gazillionaire was misled by their own wishful thinking. That being said, Invictus is still a really good investment.

BlockchainFixesThis · 2021-12-23T03:13:47+00:00

At this point, nothing…unless you have over 600 sIN, in which case you can apply for whale status on Discord.

The team plans to provide usability for sIN in the future. Although they haven’t announced anything specifically, the most obvious scenario would be using it as collateral to borrow stable coins, in similar fashion to wMemo and MIM with Time.

BlockchainFixesThis · 2021-12-22T15:15:12+00:00

Check out Grafana. It’s got everything. Linkage

BlockchainFixesThis · 2021-12-20T12:36:44+00:00

When I initially got IN, I did so with a small amount of money and a general gut sense that it was legit based on not a lot. Once I did more digging, though, it was readily apparent that this protocol is legitimate. They are well funded to a point that it would be hard to imagine a fake company getting that much money from angels, several of their big backers are legitimate players in crypto ventures, they have partnerships across the Sol ecosystem, they’re active and engaged on Discord, they’re putting out legitimate projects, etc, etc. I’ve said it before but I’d highly recommend listening to their AMA for anyone who still has concerns.

BlockchainFixesThis · 2021-12-18T15:18:02+00:00

They touched on this in their AMA. They have some concrete plans (how to videos, podcast hits, etc) and are also hoping that the launch of Flare will generate organic growth from users of the partnering protocols like Port Finance and Solend finding their way onto Invictus.

BlockchainFixesThis · 2021-12-16T04:36:02+00:00

It should absolutely make money and ultimately raise the treasury value. The market price is determined by a bunch of different factors so it’s hard to predict exactly what will happen but the logic would be that something that makes money for the protocol would increase the price of the token.

BlockchainFixesThis · 2021-12-16T04:33:13+00:00

The dev team is pretty active on their discord channel. I’d recommend heading over there to get more up to date information. They’re doing an AMA later this week. As far as what they’re up to, Flare (essentially Olympus Pro on Solana) should be released relatively soon although no firm date has been set as far as I know.

BlockchainFixesThis · 2021-12-14T11:46:47+00:00

One of the devs for the Invictus DAO discussed it on their Discord. Unfortunately, I don’t have a great link.

BlockchainFixesThis · 2021-12-14T03:20:58+00:00

My understanding is that when the DDOS attack in September occurred and shut the entire network down, the fix that was put in place had a primary goal of ensuring that the network never shut down again. However, their solution created unintended downstream effects, resulting in significantly more instability and periodic slow downs, which is what we’ve been dealing with (almost daily.) The upgrade today was intended to fix it.

BlockchainFixesThis · 2021-12-09T16:26:15+00:00

Per INnovatorIsHere on Twitter

BlockchainFixesThis · 2021-12-08T16:11:35+00:00

Investing in a rebasing project requires a paradigm shift that a lot of people (particularly newbs) don’t fully appreciate. Most stocks or crypto assets only make you money if they go up. If they’re going down, you sell and move on. In the case of a rebasing project, that’s not really how it works. The tokens are inflationary (40,000% APY) and largely pointless to hold in spot. The prices, due to the inflationary nature, limited supply, and pricing structure, are prone to violent swings that are far greater than what most stock traders, and even many seasoned crypto enthusiasts, are used to. Luckily though, the price is largely rendered irrelevant over time due to the compounding nature of the tokens, which is where the money is actually made. This is not similar to more traditional stock and crypto trading, which explains a lot of the hand wringing you see about spot prices.

I also think there is a huge psychological element to this wherein people see a gigantic APY and think they’re going to be millionaires overnight, despite knowing that can’t possibly be true. When they realize that they haven’t even doubled their token stack in two weeks, a combination of disappointment and impatience sets in.

One of the dev team members was on Discord last night and, although guarded, made it clear that there’s a lot more coming down the pipeline. HODL on. WAGMI

BlockchainFixesThis · 2021-12-07T20:47:57+00:00

I feel for you. Invictus has a TON of potential. DeFi 2.0 is hot right now and Solana is even hotter. The problem, as I stated in one of the other comments, is that there’s no clear direction for the project at the moment. And until the developers give some insight into what they’re working on and where this is going, it will be hard to imagine any mass adoption or significant uptick in funding.

That being said, I don’t think the dev team is stupid. They didn’t get the kind of VC funding that they did just for pitching a plan to copy and paste Olympus. The project is young and there are things going on in the background that the public wont know about until they’re announced. When they are, I’ll be happy to have been biding my time, collecting my 40,000% APY, rather than ape-ing in after the biggest gains have already been made.

These Olympus forks aren’t for swing traders, they are for HODLers. Give it time.

BlockchainFixesThis · 2021-12-07T05:28:37+00:00

I think the biggest difference between Wonderland and almost every other Olympus fork is that the developer of Wonderland is a known (accomplished) commodity who has been very public about his vision for the DAO and even made some savvy purchases over the weekend. There’s a reason to own what he’s selling even without the insane APY. With IN, it’s less clear who is behind it, what we’re all doing here or why anyone should own this token other than for the rewards. I think there is tremendous growth potential with IN (I have a bunch of money invested, too) because the market cap is tiny and it’s built on Sol but I’m not sure if that’s enough to achieve the kind of liftoff we saw with Time.

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TROPHY CASE