SEED Holdings Report #38 - 1% of CUB supply acquired & other updates

2 years ago

I was thinking about delaying this update until after Hivefest since tomorrow morning I'm catching a plane to the Netherlands and I don't want to carry the PC and all the stuff. But damn it, I'm better updating you all now.

These couple weeks have been filled with lots of activity, so I'll be trying to be as concise as possible.

Weekend presale (Sweat Economy) was a complete success. Bought about 350K tokens for 0,007$ each for a total of 3K$. Listing day token makes an x10 and 30% of the full allocation was fully released So I took out 8K$. 16K$ remains locked for +1 year. But It's an instant x3 on dollars in/out.
These 8K$ felt like a revitalizing shower. Not only unlocked a lot of capital to keep presales going on (+12K$ at time of writing), but it also allowed me to purchase 1% of the CUB supply (170K CUB) which they're already paired with HBD and farming a decent +30%. I also purchased another Splinterlands Node License (currently sitting at 4 of these beauties). All of this is staked and provides some revenue which contributes to extending our buffer. These 3 revenue sources alone (4 NODES and 15K $) provide around 30 $/day or 950 $/monthly.
The reason to buy CUB at these prices is that it's already very cheap (it's a 360K mcap) and I really like the current focus around wrapping fees and the MTB, it's something that HIVE as a network needs too, more sinks for HBD especially. It's already very cheap to pump CUB with a few K's but the 'killer app' is being able to farm it with a 30% APR while the yearly inflation is not that much (currently 1/3 is being absorbed by fees). In addition, I can pair it with bHBD and receive a 30% APR while liquid, which makes it possible to take advantage of HBD pumps for a few bucks here and there (which I did yesterday a little bit btw). See? 1000 bHBD out, 1050 BUSD in, rinse and repeat.

busd arbitrage.png

If you remember last week report, you might remember that I stopped delegating away the management of our Splinterlands deck (currently valued at 3100$). Some welcomed users recommended me splex.gg, and gosh, It's heaven regarding Splinterlands deck management. If you decide to try it out, there's a ref link inside the previous link shared (just letting you know in case you check it out).

I'm even trying their Archmage feature, which is basically a Splinterlands bot, and Jesus, he never gets tired. Our Splinterlands playing account (@elpanarabbit) is currently ranked at Gold I and is accumulating chests like there's no tomorrow. I keep tweaking things a bit but overall I'm very satisfied with how is this playing out. Salute the bunny!

Regarding Riftwatchers and TD, I want to see how both presales go before making any move, but I might be interested in purchasing a few packs on both expansions.
Next week (on the 20th) we have another major release. We participated in the Chainport presale back in late March and I've been waiting for the TGE ever since. We allocated 7900$ back in the day so it could be a very good catalyst for our TVL.

This is how our assets stand: