Defi Farm #17 - August 21st Weekly Update

Hi everyone,

Certainly was a volatile week this past week. The crypto market saw a cool down after weeks of "up only". Let's dive in 🤿Over the past 7 days:SPY: -0.63%BTC: -12.0% ETH: -18.0% 

Major L1's:SOL: -22.4%AVAX: -20.7%Near: -27.8%Algo: -17.5%FTM: -23.4%

With ETH taking such a major hit - L1's (generally higher beta) really suffered this past week.Today I'll go over:- Helpful Defi tools that you can use- Interesting news from this week- Cool projects and protocols I came across this week- Revist an important defi concept

Helpful Defi Tools that you should be using

Nansen Portfolio - linkThis is by far the best defi portfolio tracker I've come across after testing basically all of them. Nansen has support for the most chains, support for the most defi protocols, allows you to see claimable rewards that you have accrued in defi protocols, etc. It's an incredibly helpful tool to have.

Revoke Cash - linkWhenever you interact with a protocol, you have to give that protocol allowances so that it can interact with your wallet. Protocols can have bugs and in some cases, these allowances might drain your wallet. Revoke cash is an easy-to-use tool that allows you to see all of the live allowances on your wallet and lets you easily revoke those.

Defi Llama - linkDefi Llama is a great resource to explore different chains (ETH, Avax, Solana, etc) and find the biggest defi protocols on each chain. It also has a ton of interesting data about TVL (total value locked) for each protocol and chain and they recently launched a new feature that allows you to look for the best yields across defi.

Uniwhales - linkUniwhales allows you to see really interesting bridging data for most of the major L1's. This can help if you're trying to see if any major rotations are happening.

DefiWars - linkThis tool is the central place for all data related to ve-tokenomics and the related ve-wars associated with those protocols.

Interesting news and things from this week

• Coinfund announced a new early-stage $300M web3 venture fund

• Gnosis Safe (multisig wallet) published a list of eligible wallet addresses for a $SAFE airdrop

• Do Kwon did his first interview after the LUNA/UST collapse. (Honestly, it's not really that interesting or worth watching.)

• Canada is now restricting how much crypto its citizens can purchase, online there seems to be a lot of disagreement over what the new regulation allows, this thread was the most straightforward one that I could find.

Interesting protocols I found this week

CreatorDAO (link) - received funding from a16z, they haven't fully launched yet but it looks like they're building a way for individuals to "invest" in creators and a way for creators to join a DAO  

Seedlabs Web3 SPV (link) - Through seedlabs you can create a web3 SPV. They've also built tools that allow you to operate "engage-to-earn" bounty systems to incentivize a community via carry tokens, voting rights, and direct pay outs. Incredibly cool!

Important Defi Concept of the Week

Instead of going over a new farm, I wanted to revisit an important concept this week - real yield.

When you're looking at farms to enter in defi, it's always important to remember your real yield. Worded another way - what are the reward tokens that make up the yield %. Are you getting paid 10% in USDC? 10% in ETH? or 10% in some small protocol inflationary reward token?

Depending on what token you're receiving, your strategy may also change. For example: maybe you regularly sell farmed tokens to USDC every other day or maybe you decide to sell everything into ETH or BTC.All of this matters because the price action of the underlying reward tokens greatly affect what you're real yield is.

A few months ago I talked about Stargate and how I would start farming on it with stablecoins because even though the listed yields were 7-8% paid out in STG, I thought that the STG token would increase in price over time.

This past week, STG went from a low of ~$0.32 to a high of ~$0.96. Since I was just farming and accumulating STG for the past few months, that means my real yield rate was much higher than the listed 7-8%.

Always pay attention to the tokens that are being paid out as yield and remember that the listed yield % isn't "real yield" rather - it's the yield you would get if you were consistently selling the reward tokens to stables as soon as they were farmed.

That's all I have for this week! Stay safe out there and as always, stay yielding!

- Andy