Welcome to this weeks update from the @spinvest-leo account. This wallet manages a small portion of the overall @spinvest fund, and sends HIVE back to @spinvest each week to contribute to the pool of funds for dividends. This wallet is managed by @jk6276. The main focus of this account is to generate yield to contribute to the weekly dividends for holders of SPI tokens. 50% of the income generated each week is sent to @spinvest to contribute to the weekly dividend. Primary holdings are positions in SPS liquidity pools, other BeeSwap pools, along with some Hive engine based investments.
Position changes this week:
Made some more significant changes this week, moving some funds around to set up for the future COLONY airdrop. We hold a lot of SPS in this fund, but it is all in liquidity pools that don't qualify for the drop (the SPS pools). @silverstackeruk suggested shifting some SPS to stake to benefit from the drop, and this seems like a smart move.
So how I went about it was to skim some funds out of the SPS/BNB and SPS/ETH pools. I basically reset both to around $1,000 value, and pulled a couple hundred $$ out of each. This I swapped all into SPS, and moved back to HIVE, and staked in game. We ended up with around 22K SPS staked, so it should set us up for some drop. I wanted to move on this quickly, as I think that closer to the start of the drop, and once it actually does start, FOMO might kick in and see a little run up in SPS value. Moving early is important in crypto.
The other little move I made this week is less significant, but worth noting. I pulled a small amount out of the ZING/HIVE pool, which I put into the BXT pool. The yield has dropped on ZING, and as it matures I think the price of ZING may begin to slowly decline for a bit. We still hold a decent position, around $450 but its downsized just a little.
Current holdings:
SPS/BNB pool - $1031 - down $180 (removed funds)
SPS/HIVE pool - $472 - up $8
SPS/ETH pool - $1038 - down $215 (removed funds)
SPS Staked - $532 - new position
SIM/HIVE pool - $475 - up $18
BXT/HIVE pool - $173 - up $113 (added funds)
ZING/HIVE pool - $455 - down $108 (removed funds)
Staked BXT - $606 - up $32
Staked LEO - $23 - up $2
HIVE Power - $287 - up $13
Miscellaneous - $53 - down $18
(vexPOLYCUB, liquid ETH & BNB)
Asset exposure
Using the above values, and splitting pool positions into their components, we can calculate the total exposure to each asset for this wallet.
SPS - $1803 - 35.03%
BNB - $524 - 10.17%
ETH - $537 - 10.44%
HIVE - $1075 - 20.88%
SIM - $238 - 4.62%
BXT - $693 - 13.46%
ZING - $228 - 4.42%
LEO - $23 - 0.45%
vexPOLYCUB - $27 - 0.52%
Commentary:
So SPS jumps back up to be our largest allocation. Another suggestion from SSUK is to pull the BNB/SPS pool and shift it to be all ETH/SPS. He feels that ETH's prospects over the coming year or two are better. I tend to agree, but also note that the overall @spinvest fund has a decent ETH exposure already, and I like to position this wallet in ways different to the main fund. Still undecided on this, possibly a good way to go, but also drops a little diversification.
Overall the week was ok. Up around $200 in value, despite spending a solid chunk of ETH on GAS to shift funds. Every time I have to use ETH, it reminds me why I dislike it so much. My timing was probably bad, during a busy period while ETH was pumping a bit, but still when you are used to free TX's here on HIVE, and TX's of maybe a few cents (or less) playing around the Cosmos eco-system, ETH still sucks. But it still has a big role in the crypto world, and can't be ignored despite my personal annimosity.
The important thing to note is that yields are dropping. The ZING pool has dropped significantly, between a planned drop in rewards, increased liquidity, a small drop in price, and moving some funds out, our income has dropped noticeably. The SPS changes will also drop the income a little. Just as an FYI, we are earning roughly 80 SPS per day between staking and the LP's. I plan to add to the stake each day 25% of this income, and the remaining will transfer to Beeswap to use as general income.
Totals and conclusion:
- Total asset value last week: $4947
- Total asset value this week: $5145
- Weekly gain/loss: up $198
48.317 HIVE sent to @spinvest for weekly dividends. This is down 14.722 from last week, and likely to drop again this week.
Thanks for taking the time to read our weekly update. If you would like to learn more about @spinvest, and the $SPI token, check out the main account and review the weekly update post.
This post authored by @jk6276 on behalf of @spinvest-leo. 50% beneficiary set to @jk6276
Posted Using InLeo Alpha