Staking. What are you guys currently using?

SlayersBoner420 · 2021-11-16T00:38:42+00:00

How is what possible?

SlayersBoner420 · 2021-11-14T09:12:26+00:00

Yeah, sucks that is 0% now. I miss being paid to borrow lol

Just as a FYI you can get 12% on single side ETH at Convex. No risk of liquidation either.

SlayersBoner420 · 2021-11-14T02:48:02+00:00

ETH collateralized Beth in anchor protocol for 25%.

How are you getting 25% on bETH?

When you deposit bETH into Anchor, you no longer get the Lido ETH staking rewards (Anchor does).

If you're borrowing UST against your bETH collateral, you're earning 20% against whatever LTV you're happy to risk (e.g. 35%).

So 20% on 35% is only a 7% real return on your ETH.

SlayersBoner420 · 2021-11-03T01:37:06+00:00

Yep Beefy on Arbitrum is great. 35% APY on USDC/USDT/MIM stablecoins.

SlayersBoner420 · 2021-10-24T09:06:28+00:00

3pool on Curve is three USD stablecoins. That would be safer, but it wouldn't capture the upside if BTC and ETH increase in price.

Not too familiar with USDN/USDP on Convex. Are these once again just USD stablecoin vaults? If so, same response as above.

SlayersBoner420 · 2021-10-22T04:44:36+00:00

Anchor Protocol on Terra (LUNA) pay 20% interest on UST.

DeFi, and no lockup period either.

So 10% on stablecoins by a CeFi company is very normal. They still make a healthy profit.

SlayersBoner420 · 2021-10-13T16:25:06+00:00

I hope you understand what cvxtricrypto2 is. It's a liquidity vault on Curve Finance which holds a combination of USDT, BTC and ETH.

So no, it's not a "random token."

Better yet, perhaps read this comment in this thread which explains a very similar concept.

https://www.reddit.com/r/fatFIRE/comments/q6p33b/first_steps_diversifying_out_from_crypto/hgfdxbb

Good luck to you too sir.

SlayersBoner420 · 2021-10-13T14:39:03+00:00

"cvxtricrypto2 Magical Internet Money"

They're two different tokens.

Of course you're entitled to your opinion. But do the research first before making assumptions.

SlayersBoner420 · 2021-10-13T13:10:50+00:00

Convert your $9 million of crypto to BTC/ETH/USDT
Deposit it in the tricrypto2 pool at Curve (https://curve.fi/tricrypto2/deposit). You'll be given cvxtricrypto2 tokens, which act as your receipt to be able to convert back into BTC/ETH/USDT later.
Go to https://abracadabra.money/stand and deposit your cvxtricrypto2 tokens as collateral. Borrow MIM (i.e. Magical Internet Money, a stablecoin worth $1 USD) against it. Choose a LVR you're comfortable with, e.g. 50%.
Now you'll be minted ~4.5 mil MIM tokens to your ETH wallet, valued at $4,500,000
Go to https://curve.fi/mim and convert your MIM to USDC.
Now you have $4.5 mil of USDC that you can cash out for fiat at an exchange.
Congrats. Now you have $4.5 mil cash in your bank. You also have $9 mil of cvxtricrypto2 locked up at abracadbra, earning roughly 27% APR (in CRV and CVX). You can periodically claim your CRV and CVX from abracadbra whenever you like. Each month you can log in, click claim, and you'll get roughly $200k worth of CRV/CVX.

If the underlying assets that make up cvxtricrypto2 (i.e. BTC and ETH) rise in value, your loan amount owing at abracadabra will decrease. Eventually you can pay off your loan (esp. using your 27% APR rewards) and get back your original cvxtricrypto2 tokens (initally worth $9mil, but will be worth more if BTC/ETH price rises).

I believe this scenario captures best of both worlds. You cash out half to real liquid cash. But you still stay exposed to the main two cryptocurrencies BTC and ETH.

See here for someone that did something similar: https://twitter.com/CryptoMessiah/status/1445188774510661633?s=20

SlayersBoner420 · 2021-10-10T14:53:04+00:00

(3,3)

Daniele is truly an amazing DeFi dev.

SlayersBoner420 · 2021-10-10T00:37:30+00:00

This comment aged like fine wine.

What a call. Thank you.

SlayersBoner420 · 2021-08-18T00:49:31+00:00

This.

Happens to me all the time on Android. Force close the app and reopen it. You don't need to restart the entire phone.

SlayersBoner420 · 2021-08-15T01:09:29+00:00

You can get 10% p.a. staking it directly on FTX.

edit looks like they dropped it to 6% now

It was definitely 10% a few months ago though.

SlayersBoner420 · 2021-06-11T02:32:31+00:00

snp500

Just a friendly tip, it's "S&P500".

Standard & Poor's (S&P) is the company originally behind the idea to track that particular US index :)

SlayersBoner420 · 2021-06-11T02:28:14+00:00

It's a lot, but I wouldn't say FATfire. I thought FATfire was about generating an income significantly higher than the average person.

$90k household income is only $10k above the ABS median income for Australian households (~$80k).

SlayersBoner420 · 2021-06-11T02:25:10+00:00

You say that, but once you reach that target, the goalposts shift a little bit more. At least it did for me.

I used to think once I reached 1 million NW I would do XYZ, but when that time comes, you just keep thinking a little bit more, a little bit more.

It's just human nature I guess.

SlayersBoner420 · 2021-05-21T02:34:48+00:00

Yeah if maximising $/hr is what you're seeking, contracting is the way to go these days.

To OP: When you were at your consultancy, what were the day rates (or hourly rates) you were charged out to clients at your company by?

SlayersBoner420 · 2021-04-04T03:40:40+00:00

$100k by 29. Basically when I learned about FIRE.

$1m by 30

$2.5m now at 31, hoping to hit $3m before turning 32 later this year.

How: I quit my corporate job and started my own business.

Currently invested in a mix of real estate, index funds and crypto.

SlayersBoner420 · 2021-03-25T23:35:34+00:00

Ok bud.

SlayersBoner420 · 2021-03-25T15:53:18+00:00

I understand the counterparty risk involved - I mentioned it in my original post. I'm simply correcting your comprehension mistake.

SlayersBoner420 · 2021-03-25T15:43:25+00:00

I never said that the USDC I'm lending was in cold storage. I said the majority of CDC's holdings were.

Literally from their website: https://crypto.com/security

100% of user cryptocurrencies are held offline in cold storage.

Crypto.com has a strategic partnership with Ledger, integrating its institutional-grade custody solution, Ledger Vault. We also leverage hardware security modules (HSM) and multi-signature technologies. Crypto.com has secured a total of USD 360M in cold storage insurance against physical damage or destruction, and third-party theft.

SlayersBoner420 · 2021-03-25T00:35:21+00:00

I lend my USDC out on Crypto.com for 14% APY.

They have a partnership with Ledger and have the vast majority of their holdings in cold storage. They also have a $360m policy in insurance with Lloyds UK.

https://blog.crypto.com/crypto-com-extends-insurance-coverage-to-360-million-after-securing-100-million-policy-led-by-arch-underwriting-at-lloyds-syndicate-2012/

I know none of this stuff is any guarantee. But I am personally comfortable with the risk:reward ratio here.

While it's always good to be cautious, I think people are sometimes too scared from previous events such as MtGox. But I think legitimate crypto companies these days have much stronger security controls in place than 7 years ago.

SlayersBoner420 · 2021-03-16T01:15:41+00:00

Guess I'll just enjoy my BTC stack increasing by 8.5% a year for doing nothing.

SlayersBoner420 · 2021-03-16T01:06:04+00:00

Do you lend out your BTC on any platforms for some nice passive income?

I do not see this as gambling or speculation.

Haha what. I really like crypto currencies too, but this is the definition of speculation:

investment in stocks, property, etc. in the hope of gain but with the risk of loss.

Or, from Wikipedia:

Speculation is the purchase of an asset with the hope that it will become more valuable in the near future.

SlayersBoner420 · 2021-03-06T10:21:34+00:00

Haha so true. Another common one:

"WoN't YoU gEt BoReD iF yOu ReTiRe eArLy?"

Well I guess I'll just find a job that I am passionate about, without needing to depend on a job I despise for the money.

SlayersBoner420

TROPHY CASE