One week ago, I started my yield fishing journey. For those who don’t know, yield fishing (or yield farming) is a way to earn passive income by providing liquidity to certain pools on decentralized finance (DeFi) platforms. It’s an exciting way to put my crypto to work, but it comes with risks, like price fluctuations and pools moving out of range.
My goal is simple: I’m aiming to earn 10% monthly returns while sharing my journey with all of you. By posting my progress daily, I hope to stay motivated, learn more about DeFi, and show others what this space is all about. Starting today, I’ll also be posting daily updates here, so you can follow along with every step of my adventure!
🌟 Highlights of the Week
- I started with a $400 deposit and a clear goal: earn 10% per month.
- Opened new positions in USDC/cbBTC, WETH/USDC, and AVAX/USDC, spreading my portfolio across different chains.
- The market started calm, and my positions stayed in range for the first few days, earning steady fees.
💔 Challenges of the Week
- Midweek, the market became unpredictable after inflation news from the U.S.
- Four of my six positions moved out of range, including my USDC/cbBTC position, which I had to rebalance after 48 hours.
- Watching positions go out of range was tough, but I stayed patient.
📊 Week 1 Stats
- Starting Deposit: $400
- Total Deposit Now: $700
- Fees Earned This Week: $15.60
- Best Day: Day 6 with $3.76 earned.
- Portfolio Value: $700.43
🌊 What I Learned This Week
- Be Patient: It’s better to wait and let the market settle before making big changes.
- Small Steps Count: Even on bad days, fees still came in, and progress was made.
That’s my first week done! I’m excited for week two and to see what new lessons and rewards lie ahead.