JBlock Update #4: May Recap
Starting off this month, we just saw the price of FTM drop like 40% in the last two days, much of which is due to Roosh’s death spiral liquidations on Scream. Due to this, the Tomb peg has recently dropped to 0.90 ftm, and currently sits at 0.96. Playing the tomb peg entering and exiting every few percent will be something I’m looking to explore more this month. Aurigami rewards are doing their thing, looking forward to claiming those in a couple weeks.
5/9: First week has been relatively choppy. Markets are still trading down and so I have consolidated to basically all net ETH exposure. Today I moved the ETH from aurora back to mainnet for further deployment as the yields on aurigami are once again low after the Near lockdrop type airdrop had ended. The tomb peg trade is still chugging along.
5/12: Wow, it’s been a crazy week. First with Terra ecosystem going down, and then the entire altcoin market tanking 30%+ and also with USDT depeg fears, this is one for the record books. Unfortunately, JBlock took it’s significant hit today. In the Tomb/FTM position, Tomb had a pretty severe depeg from ftm and I exited the trade at around 0.85 ftm or so. All in all, the portfolio went down close to 2% today; not the worst in a day when everything outperformed ETH in going down by 20%+; but still not great either. Going forward, especially in this bearish crab market, will look to shoulder up in safer and full pegged crypto.
5/15: Have shouldered everything into ETH at this point. There were some airdrops from Aurigami that I claimed. Will be safely farming in Bancor for the time being.
5/20: Aurora+ on aurora has launched. I bridged over a lot of my eth from mainnet to near and then deposited on burrow. Then borrowed out aurora and staked it on Aurora+. Yields are 100%+ arbitrage, at a 20% ltv.
5/31: Decently good ending to a bad mid month performance. We pulled most of the losses back and are slightly in the profit. Overall, there are some airdrops and unclaimed rewards that are not feasible to claim right now, and therefore were NOT included in the month end PnL. Those should give the fund a slight semi boost in the months to come when they unlock or unvest!
Thanks for your time — Juanbug