Spinvest-leo weekly update post - 20 Jan 2024
Edit: i accidentally posted this from the wrong account - should have been from @spinvest-leo. Apologies for the mix-up. I will leave it as is now - no point in re-posting it.
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:
No significant changes this week to positions. Compounding earnings into the BXT pool, and the SPS pool this week as SPS has been weak lately and I compound into whichever pool is lowest value each day. This week that has mostly been SPS, so that and BXT is where the funds have gone. SIM has held value ok this week, and ZING is out in front.
Current holdings:
SPS/BNB pool - $1313 - down $53
SPS/HIVE pool - $489 - down $24
SPS/ETH pool - $1402 - down $98
SIM/HIVE pool - $494 - down $19
BXT/HIVE pool - $35 - up $14
ZING/HIVE pool - $601 - up $1
Staked BXT - $644 - up $78
Staked LEO - $18 - flat
HIVE Power - $294 - down $7
Miscellaneous - $75 - down $2
(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 - $1602 - 29.86%
BNB - $665 - 12.39%
ETH - $741 - 13.81%
HIVE - $1104 - 20.57%
SIM - $247 - 4.60%
BXT - $662 - 12.33%
ZING - $301 - 5.6%
LEO - $18- 0.34%
vexPOLYCUB - $27 - 0.50%
Commentary:
Just plodding along this week. SPS drifting down is hurting our values a bit, but BXT had a better week so it softened the blow a little. I don't plan to change much in the short term, just keep farming and compounding. around 75 HIVE each week is a good amount to be sending back to @spinvest for the weekly dividends. I expect ZING yields to slowly decline as either more people fill the pool up, or the price drops.
The main thing I am waiting for is the launch of ZING LP's on other chains. I'd expect BSC and ETH to be most likely, and when that happens, I intend to downsize our SPS pools on those chains, and move some of those funds to the ZING pools to take advantage of the likely high early yields. This account is all about chasing yield, so that feels like a good play.
Not much else going on this week, just steady as she goes.
Totals and conclusion:
- Total asset value last week: $5475
- Total asset value this week: $5365
- Weekly gain/loss: down $110
74.706 HIVE sent to @spinvest for weekly dividends. this is up slightly from 73.134 last 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 who will receive a 50% beneficiary on post payouts.
Posted Using InLeo Alpha
Posted Using InLeo Alpha
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!DHEDGE
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@bhattg(5/10) tipped @jk6276
🌄 Good morning (here)! ☕
Trying to learn a bit more about the investing approach used on this account, @jk6276, I went to the @spinvest account and looked for a pinned post, that might explain it in more detail. I didn't find one.
Would you please provide me a link to a post where what you are doing weekly is explained in more depth? I am specifically looking for details on how you are managing your decisions on your Hive Engine LP positions.
Let's see if this works:
!DHEDGE
Hey @roleerob Thanks for the question. To be honest, I don't really think there is a specific post that explains exactly how I run the @spinvest-leo wallet. It has kind of evolved over the years.
Phase 1 - was very focused on LEO, and mainly targeted tribe tokens in the early days.
Phase 2 - drifted away from tribes, focused more on CUB and later EMP defi mostly on BSC.
Phase 3 - Currently, I have settled in with the SPS pools with BNB, ETH and here on HIVE, along with a position in the ZING pool, SIM and BXT.
I have focused back on HIVE pools here as it is much easier and cheaper to cash out yield and keep stuff on the one chain. CUB and EMP, like so many other DeFi protocols faded, and HIVE is were I am most familiar. The SPI token as a whole is not really an income token, it is a growth token mainly with a little income attached. I manage the Spinvest-leo wallet with the goal of safely generating yield to boost the SPI dividend a bit. This wallet is a small fraction of SPI (just 4% of total assets), but it generates around 18% of its income.
Long story short is I let @silverstackeruk focus on growth, and I focus on income.
As for specific investment decisions, I put the funds into what I am familiar with, that has a decent track record and history. SPS pools, SIM, BXT and now ZING. I couldn't point to more specific reasons why these and not others, beyond a track record of consistent 20 - 40% APR.
SPS - don't need to say much here - the token has its ups and downs, but a long track record and the pools carry decent yield.
BXT - reliable, I think its quite an underrated token, it's HIVE yield is REAL yield, (not inflation) and the token inflation that does exist is very moderate. This was real yield way before it became a popular concept.
SIM - I used to play the game (personally, never really on the spinleo wallet) but I still consider SIM a solid investment. The pool yields sIM, plus the SIM in the pool yields HIVE also. I read somewhere that the games reserves hold much more assets than the market cap of SIM. Might have been a post by @ecoinstant maybe??
ZING - the newcomer, basically a yield farm. I keep waiting for the price to start dumping with the APR's still really high. But it keeps defying gravity (for now). Main reason for this position is the 200 + % APR in the pool. I like that it has a strong team of HIVE OG's behind it.
I hope that gives a little insight into why I have our funds positioned where they are.
As for day to day management, here is my daily 5 minutes of managing this wallet:
I hope all that answered your question??
Cheers,
JK.
Very good @jk6276. Definitely helpful. You may decide something like this would be of value to the broader community, at some point?
Not a trivial %, since passive income is the objective of many. Myself included ...
BXT stood out to me, from your original post. Especially given it has its own LP. I think that is where I need to focus some of my own efforts to increase my investment ROI from Hive Engine. I have made something of an effort before now, but ...
A "continuous improvement" mindset has long been my approach to most things. So ... Here I am taking another pass at it ...
Absolutely. Thank you sir! 👍🫡