Being an Asymmetric LP on Thorchain !
Hello HODLers,
This is a post inspired by @jk6276 's one The benefits of Asymmetric Liquidity Pooling on Thorchain.
I decided to test the feature he was mentioning: Asymmetric LP on Thorchain.
As I had a big $AVA stake, I decided to try it out with some of it.
It is quite easy to do:
- First add only $AVA to the LP
- BEPSwap will convert half of your $AVA (or $RUNE if I wanted it the other way around) into $RUNE
- You pray that $RUNE outperforms $AVA so you get some nice green candles !
LP results after 1 Day and $AVA stable vs $RUNE dropping a bit.
You will notice that they added a new line on the LP Summary "FEE EARN", I think this is great to show how much fees you earned through being a LP as it was quite opaque before and mixed into the overall performance.
Kudos to the Thorchain Team for this !
Not so great so to speak but I liked how easy it was to use this feature and will definitely do it again in the future.
With an assymetric LP you take a bit more risk if the asset you switch half of your stake to underperforms but in the long run, I love them both and therefore do not really mind short term volatility.
How it's going after almost a week ...
Well, it seems the LP VS HODL is not getting any better BUT I am positive overall thanks to the bounce of $RUNE
I plan to increase my LP in $AVA - $RUNE in the future as I strongly believe in both tokens as very solid projects.
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Ah so you're the bugger who brought the AVA-RUNE return rate down!
I'm in on that tomorrow but I think I might just go equal shares RUNE-AVA as I want to boost myself up to SMART 3.
I honestly think they are going to grow together, the ideal pairing I think.
I'm in asymmetric on the USDT pool that just seems like a Rune printing machine!
I've also piled in some BAT too - I did that mainly asymmetric but chucked in 20 RUNE too as I didn't want to convert all my BAT.
Day 2 only for me, loving it so far, and I love the way it connects with Trust wallet.
Well, it was already sub 70% APY when I joined, don’t blame me 😆.
I was thinking about the BAT one too actually.
I need to get the trustwallet, everyone seems to love it, is that truly the best out there and are the fees low to transact / Swap?
Only joking mate! About the AVA-RUNE - it's the dream pool that one!
Not sure about the fees on TW. but it works well with BEP2 which is why I downloaded it. And somewhere to store yer Rune off the exchange.
The BEP2 transfer fees are just a flat 13 cents I think - at least from Binance, Not sure if it's the same from the wallet - probably.
Interesting info on the flat 13cents fees.
$AVA is pumping again today, $RUNE not so much, let’s see in the long run
I noticed, bit annoyed, still waiting on that LTC!
Of course I guess that means I've avoided my AVA getting drained in a Rune pool!
It's a funny one to work out this pooling gains/ losses!