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Decentralized Finance Index


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Strategy Performance
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Jan 13, 2022
Jan 20, 2022
Decentralized Finance Index
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About this strategy

Investing in the building blocks of the DeFi Industry

Strategy status
No rules
No rules
0 rules active
Rebalance done
Rebalance status
Management Fee
Copy fee (Yearly)
Entry Fee
Performance fee (Monthly )
Exit costExit cost (per transaction)0.50%
Structure changes
Last structure change
Jan 13, 2022, 11:34:40 PM
Number of structure change in last 30 days
Max. Drawdown
News Feed

Added $SPELL , I have mentioned this coin previously in my updates and talks about CRV, CVX, and FXS. I think it speaks volumes that all of the recently added coins by iconomi are DeFi protocols. Capital is starting to move in this direction which we have positioned ourselves in early.

3 people like this

Added $TRIBE as they've recently announced they will be participating in the curve wars and have some promising updates to their platform coming up in the near term. More details to come on this soon.

3 people like this

Iconomi has quietly added support for $CVX ! We are taking advantage of this and making it a large part of our strategy. With its recent addition of FXS to their platform Convex has a very promising road forward.

4 people like this

$FXS up nearly 30% today vs ETH, really shows its strength when the rest of the market is taking a hit and its pumping.

4 people like this

The Frax $FXS Thesis

Part 2

6/ Interest Rates

FRAX can be minted into collateralized money markets like Aave and Rari's Fuse. The more FRAX that is minted, the lower the interest rates. New pools and token's looking to collateralize no longer need to find 3rd parties for stablecoin liquidity

7/ By creating collateral status, Frax can make any coin a productive asset. They can be used to borrow off of and farm. Yield correlates with return - these coins are easier to hold, and people are less incentivized to sell them.

8/ If Frax can influence the liquidity, collateral ratios, interest rates for any asset, then what does a king make?

9/ Also at Frax's disposal is its ability to influence frax related pools with $FXS incentives. We saw how instrumental Curve Finance has been in the growth of various stablecoin projects ($SPELL).

Now imagine Frax applying that flywheel to non-stablecoin projects 

10/ The Trinity

What we've discussed is just the start. One must imagine FRAX as controlling the entire stack - Frax V3 will achieve The Trinity

11/ So how much are the keys to the central bank worth? We'll find out

3 people like this

I have already made numerous posts covering why we are so bullish on CRV, this morning I will cover our bull thesis on FXS. Buckle up.

The Frax $FXS Thesis 

1/ For sovereign nations, a central bank exists to control the supply and cost of money & credit via various monetary policy operations

The operations impact market-wide interest rates, liquidity, and asset prices.

 These operations can mostly be distilled down to directly buying/selling securities, setting reserve requirements, and setting interest rates for borrowing/lending

Basically, the Central Bank controls the economy 

2/ Buying securities (bonds), lowering reserve requirements, and lowering borrowing rates generally are conducive to market wide effects of lowering cost of capital, increasing liquidity, and increasing asset prices. We've seen this play out over the past few years Frax has developed a stablecoin protocol that has the potential to have a similar level of control over the entire crypto economy through its modularized design and unique AMO innovations 

3/ What is an AMO?

See docs:

These AMOs allow for the protocol to algorithmically mint/burn $ while maintaining peg stability to generate income for the protocol, increase liquidity for FRAX paired assets, and influence interest rates for crypto money markets

Sound familiar? 

4/ Income Generation

Normally, FRAX generates income from farming with its collateral. But if FRAX trades above peg, extra FRAX can be minted to both stabilize the peg and be staked in farms~$80m profit has been generated over the past 6 months

5/ Liquidity

FRAX can be minted to provide deep liquidity for both other stablecoins, and also non-stable assets. Frax currently provides 9 figures of liquidity via programs like Frax-as-a-service and its Tokemak Reactor

2 people like this

Was right timing to take profits yesterday but unfortunate I decided to not take a more aggressive approach in doing so, in the future will scale into gold starting at 5% vs 2%. In any case, I am waiting for a bottom formation to enter back into the market with the small position we do have in gold. I remain long term bullish on both CRV and FXS.

6 people like this

Starting a small profit position after such a big run of 100% ROI this month, 2% into gold every few days to buy the potential forthcoming market pullback.

6 people like this

A lot of volume on CRV, if we are able to break and close above resistance we can expect a very nice run

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4 people like this

What's going to be the first stop?

Small pullback here is normal after over 100% run with $FXS in under a week, $CRV doing well today up over 10% currently sitting at resistance. No changes in structure.

7 people like this

true, really bullish. hope it breaks resistance sooner than later

Good report here in this link n CRV.