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. We have also moved into the Cosmos, with an initial position of some staked DYM (Dymension) plus some liquidity pools on that new platform.
Position changes this week:
Last weeks update involved some major changes, which you can read about in this post about Dymension as well as last weeks weekly update post. This week has just been about stabilising and allowing those changes to settle in. I did pull a little out of the liquidity pools on Dymension, to round off the staked amount at 100 tokens. The reasoning for this is mainly about positioning for potential airdrops.
Airdrops are not the main goal of this investment, but they should prove to be a wallet building benefit. There are at least 4 projects that have confirmed they are building to launch on Dymension, and the chances of airdrops to DYM stakers is high. Many projects will a set a minimum stake, to weed out sybil attacks (staking a small amount of tokens in many wallets to farm airdrops), and 100 tokens seems like a decent amount to meet any minimum requirements.
I have set the DYM stake to auto-compound staking rewards, so that becomes a passive growth assets over time. The yield being generated from the LP's is currently being re-invested into growing those LP's, by adding to whichever is at a lower value each day.
All was looking good, and the wallet was showing nice growth, until a big sell-off in the last day or two has seen a drop in value.
Current holdings:
SPS/HIVE pool - $496 - down $35
SPS/ETH pool - $1323 - down $139
SPS Staked - $902 - down $100
SIM/HIVE pool - $504 - down $14
ZING/HIVE pool - $496 - up $17
Staked BXT - $845 - down $15
Staked LEO - $53 - up $14
HIVE Power - $405 - up $2
DYM/stTIA - $413 - down $67 (removed a small amount)
DYM/ATOM - $412 - down $61 (removed a small amount)
DYM stake - $605 - up $45 (added from above)
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 - $1812 - 28.07%
ETH - $662 - 10.25%
HIVE - $1153 - 17.86%
SIM - $252 - 3.90%
BXT - $845 - 13.09%
ZING - $248 - 3.84%
LEO - $53 - 0.82%
DYM - $1018 - 15.77%
stTIA - $207 - 3.20%
ATOM - $206 - 3.19%
Commentary:
Overall, we lost a few hundred in value from last week, which is not the end of the world after a couple of weeks of significant gains. A couple days ago, the wallet was up over $7k in value, for the first time in years, however the correction pushed us back down. As you can see from the above, SPS positions were the hardest hit. Our initial investment into DYM assets was $1500, and this is down a little to $1430 currently. Early days still here, and there is much growth ahead for this new eco-system.
Income has dropped a bit also, as we have shifted these funds out to DYM, where it is inconvenient to move small amounts (daily yield) back to HIVE for dividends. That's ok, during this phase of the market growth is higher priority than yield in the short run. When airdrops come along for DYM, (wen, wen, wen) I will assess each on merit and decide the best course of action. If the airdrop is juicy, I'd like to sell a portion of it off, convert to HIVE and send it to @spinvest to fund a one off "bonus dividend" or something like that. Anyway, no promises there, just have to wait and see what comes along.
All in all, a consolidation week after last weeks big moves, and we shall see where we go next week.
Totals and conclusion:
- Total asset value last week: $6806
- Total asset value this week: $6454
- Weekly gain/loss: down $352
31.117 HIVE sent to @spinvest for weekly dividends.
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