[Weekly] Market Return on StableCoin-based Strategies

In line with Serenity Fund’s strategy on investment of stablecoins, we provide a weekly update of the returns.

​Quick analysis for the past week:

• The returns were generally less than those from two weeks ago, as the CEX have less funding costs now. The global max goes back to providing liquidity on Uniswap, as price of ETH stabilizes around 600 USD and thus impermanent loss is minimised.
• COMP Leveraged Mining Strategy now has an Oracle issue and this casts some doubts; but it should not be a long-term issue for Compound.
• Curve remains strong and you can further enhances this by checking if Yearn has a better rate (as Yearn uses boosts).
• Hedged Buying on CEX is the best risk-less strategy now (if you do not want to take the impermanent loss risks at all). Buying and shorting ETH or LINK will give more 20% APY last week.

Further, we would like to add a new line, the Balancer BallPark Return, which is the Average Mining Rewards Return (excluding Basic Returns of trading commission) for all Balancer pools without BAL, its platform token. We will be writing an article to explain this in detail. For this week’s update:

• Balancer BallPark Return = 16.53%

In addition, we have looked at other market opportunities last week (which mostly temporary):

• CREAM Leveraged Mining, with an APY starting from 100% at the moment we wrote, and it’s average to be 30% now. It’s ETH-denominated.
• Cover Protocol Mining, with an APY close to 100% now and it’s recently new, and subject to changes.

Follow our Twitter for the latest updates.

(Serenity Team, 8 Dec 2020. Twitter https://twitter.com/SerenityFund)