Spinvest-leo weekly update post - 15 July 2023

Welcome to this weeks update from the @spinvest-leo account. This wallet manages a small portion of the overall @spinvest fund, and sends HIVE back to @spinvest each week to contribute to the pool of funds for dividends. This wallet is managed by @jk6276

Position changes this week:

What a difference a week makes. Last week, this wallet had a little over $3,000 in assets. After last weeks report, SSUK sent over $1500 to top up our holdings and make the dividend flow more sustainable. Add to that an awesome week for our major holdings, being SPS and BXT and we end the week with $5,349 in the wallet.

When the funds came in to the BSC wallet, first thing I did was figure out the best way to bridge it over to Ethereum. With a bit over $1000 sent, then I pooled that into the SPS/ETH pool on Sushiswap that generates SPS yield in Splinterlands. That position is currently around 25K SPS and 0.3 ETH, and I plan to basically not touch it for the foreseeable future. The best part is that after completing this, SPS continued to improve in price, so this position is already comfortably in the green, and minting a yield around 40%

Much of the remaining funds were added to the BXT/swap.HIVE pool on beeswap. This pool generates BXT rewards with an APR of around 26%. BXT has also performed well this week, and is currently at the top end of its recent trading range. The goal is to move this position up over the $1,000 mark, before focusing on building other positions.

Back on SPS, I have started to unstake the staked SPS position. Now that all three SPS liquidity pool positions are comfortably over $1,000 in value, that is sufficient exposure and the stake can be used elsewhere. It is tempting to keep it, and generate extra yield via the new leasing market for SPS loans, but I think I'll leave that for others to play with. SPS stake will unstake, and be moved to other investments over the next four weeks.

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Current holdings:

• SPS/BNB pool - $1112 (up $151)

• SPS/HIVE pool - $1186 (up $186)

• SPS/ETH pool - $1152 (new position)

• Staked SPS - $350 (up $72) - unstake commenced

• BXT/HIVE pool - $888 (up $537 with added funds)

• Staked BXT - $311 (up $92 with some added funds)

• HIVE power - $259 (up $31)

• vexPOLYCUB - $47 (up $1

• Liquid ETH - $31

• Liquid BNB - $13

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Commentary:

Fun times this week, and the strong performance of SPS has made things interesting. The timing of the addition of the SPS/ETH pool was excellent. The yield being generated by the portfolio will now comfortably cover the 100 HIVE per week for dividends, and still allow room for growth.

My plan moving forward is to target the BXT/HIVE pool, with a goal to build it up to match the value of the SPS pools, before looking at another option. I'm currently tossing up between the swap.BNB/swap.HIVE, and the swap.BUSD/swap.HIVE pools. Both generate a yield over 20%, and one of them is likely to be the next position I open.

Looking forward to see how SPS goes from here, new use cases are nice and hopefully this is the start of a continued good run for SPS, but time will tell. I won't be surprised if BXT drifts back down from its current prices, as it seems to do well for a while and then dip.

Fun fact, this wallet (@spinvest-leo) is currently position 17 on the BXT rich list. Sorted by pool liquidity, we are in position 7 in the BXT/HIVE pool.

Overall, a very nice week, and I'm much more comfortable with this wallets position than I was a couple of weeks ago.

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Totals and conclusion:

• Total asset value last week: $3,095
• Additional funds sent from Spinvest: $1,500
• Total asset value this week: $5,349
• Weekly gain/loss: $754 asset value gain. 🤑🎉

100 HIVE sent to @spinvest for weekly dividends.

Thanks for taking the time to read our weekly update. If you would like to learn more about @spinvest, and the $SPI token, check out the main account and review the weekly update post.