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If you are currenly rushing to stake $YAM, consider doing it with $AMPL, $COMP or $LEND, as the pool balances are the lowest, compared to the overall value locked.
Each pool is an equal 1/8 of the rewards. $YFI whales already high on hopium, nearly 30M locked. $WETH the same.
Each pool is an equal 1/8 of the rewards. $YFI whales already high on hopium, nearly 30M locked. $WETH the same.
For more information about $YAM refer to this article: https://medium.com/@yamfinance/yam-finance-d0ad577250c7
This is a beautiful macro game-theoretical equation. Current gas prices are high, and will only get higher. The goal is to farm as much YAM as you can and be ready to migrate to http://Curve.fi , before $CRV is live, and pools are getting hilarious yield.
Race has started
Race has started
It is even more exciting for me, as I started farming recently, with a little to no capital. The effectiveness I need to achive in this game needs to be on top.
Calculate gas prices to the overall capital, mitigate smart contract risk, and earn money after all.
Calculate gas prices to the overall capital, mitigate smart contract risk, and earn money after all.
$YAM with a fully decentralized distribution from a day one. Check this schedules, and make sure to properly optimise your strategy. If your cap. is low, you should migrate your farming to YAM/yCRV Uniswap pool around day 2-3 since the start of farms (19.00 UTC today).
Some idea - if my numbers are right, $LEND should increase around 3-8% in the next 3-5h, following the $COMP, since their pools rewards are nearly equally collateralized.
Interact with $YAM without the need of their front-end.
Credits go to @lemiscate https://medium.com/@pierarte/farm-yam-without-their-frontend-5b0e74eaf51d
Credits go to @lemiscate https://medium.com/@pierarte/farm-yam-without-their-frontend-5b0e74eaf51d
$YAM might be consider something similar to what $AMPL was trying to achive with rebases. Rebase happens twice a day:
$YAM has shown me a how mesmerizing can the DeFi race experience be. With the ruthless fluid liquidity, willing to jump throught the paths of the ETH network in a matter of seconds, rippling like the waves, one needs to constantly optimizie its strategy.
In this big events, alpha can be usually generated non-lineary. Don't just look at the schamatic way, when token X is being sourced the liquidity, then the X should pump. Most of the money on $YAM was possible to make longing $AMPL, $COMP and $LEND, by scanning the pools values.
Non-linear alpha is even more important now, when the $ETH network is clogged, and your capital is <10k $.
I have managed to pull ~19% after all the fees. It was my first DeFi farming experience, so not that bad. If I had bigger capital at the start, numbers would be better.
I have managed to pull ~19% after all the fees. It was my first DeFi farming experience, so not that bad. If I had bigger capital at the start, numbers would be better.
What should have I done? Farm with $COMP, not $LEND, as the APY was much higher, and is still ~0.74%/h. COMP also increased in value 35%, nearly 2x the $LEND.
Conclusion? If the protocol offers equal pools farming with less liquid/popular/hoarded coin, go for it.
Conclusion? If the protocol offers equal pools farming with less liquid/popular/hoarded coin, go for it.
$COMP was also constantly dumped over the last n-weeks, with the negative funding rate on perps. Traders stepped in front of DeFi players, pushing the prices higher. If I saw this potential correlation at the start of the $YAM farming, I am sure trading desks were also aware.
What's the next play here? Wave 2 of $YAP farming. Starting today at 19:00 UTC, supplying YAM/yCRV_UNI_LP pool will generate $YAM. Perfect for compounding our yield, as we farm $YAM.
yPool yield on @CurveFinance has already went from 5.29% (yesterday) to 13.26%, as traders need to swap $YAM / $yCRV with the volume nearly doubling. That + soon to be released $CRV, and @iearnfinance with a new Y strategy, should skyrocket Y pool yield.
The problem is $ETH being clogged and fees skyrocketing. Starting as a LP in Y pool on Curve is currently pretty expensive. For me it would be around 3% of my degen DeFi portfolio.
I will probably do it just for the fun and experience, but from the economic standpoint...
I will probably do it just for the fun and experience, but from the economic standpoint...
...one should think twice and calculate if their capital+expected yield > fees.
Optimal strategy? $CRV not being released for a few days, $YAM farming slowly going into unprofitable area for a majority of the players. Gas priceses should lower -> deposit to Y pool as a LP.
Optimal strategy? $CRV not being released for a few days, $YAM farming slowly going into unprofitable area for a majority of the players. Gas priceses should lower -> deposit to Y pool as a LP.
