Rebalancing @LongTermFund portfolio to bring asset allocation in line with our medium to long term goals. Our $SNX play had a SCORCHING hot run -- offloading a bit of $SNX, +$CRV and -$LINK .
My Iconomi strategy focuses on growth in the long-term horizon—as long a horizon as appropriate within the bounds of the cryptocurrency realm :)
$SNX enables swaps of any size almost without any slippage, as well as creation of tokens that can track the value of any asset (stocks, ETFs, indexes, commodities, cryptocurrencies, etc). $SNX has generated $11M of revenue in the last month. @LongTermFund remains bullish in $SNX for the foreseeable future.
Algorithmic stablecoins such $UST have always been prone to bank runs that can destabilize or de-peg the coin. Heck, even collateralized, fiat-backed stable coins have lost their peg for various durations in the past. $LUNA / $UST has a decent/active team and I don't doubt that the project will rebound in some form. However, betting on cryptocurrencies that prop up algo stablecoins is a high-risk proposition--the question is not if but when there is a destabilizing event, introduced or renewed regulatory pressure, etc.
@LongTermFund performed a restructuring earlier today. There are major changes such as removing $AVAX as a risk management step due to its exposure to the Terra ecosystem, as well as removal of $ENJ, $FTM, and $SAND for the time being. $CRV, $AAVE, and $XMR have been added, as well as ramping up our $ETH position.
While we are navigating rocky waters due to the collapse of $LUNA / $UST, as well as larger macro economic pressures, @LongTermFund remains bullish on $ETH and its ecosystem in the long run.
We have gone a while without a rebalance! Interestingly, our portfolio is still within ranges that are in line with current targets. Rest assured, I am following the markets closely and will rebalance per usual when it is time.
In other news, I just noticed that LTF returns have surpassed 40X since inception and 20X+ in the last year!