Spinvest-leo weekly update post - 12 Aug 23
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. The main focus of this account is to generate yield to contribute to the weekly dividends for holders of SPI tokens. Our current target is to send 100 HIVE per week back to @spinvest. Primary holdings are positions in SPS liquidity pools, along with some Hive engine based investments.
Position changes this week:
The main change this week is that our SPS unstake has completed, so we no longer have any staked SPS. With the funds allocated to the SPS liquidity pools, I felt that that was sufficient exposure for us, and as we are not playing Splinterlands or really participating in governance, an SPS stake is not really necessary. This wallet is still just over 30% SPS exposure, so I think we are pretty well set in the event of SPS performing well.
Over the coming weeks, I will slowly unstake a little BXT each week. Again, we have a position in the liquidity pool, which I do not plan to change. However, the staking yield for the BXT token has dropped from where we built the position, and is down now around 7%. These funds could be used to boost our higher yield positions. I am mindful to not dump it all at once, so will unstake a small portion each week for a while, Dollar cost average out if you like.
So over coming weeks, expect staked BXT to slowly decline, and the SIM/HIVE liquidity pool position to grow.
Current holdings:
SPS/BNB pool - $1057 (down $6)
SPS/HIVE pool - $1044 (up $5)
SPS/ETH pool - $1084 (up $5)
SPS Stake - Position closed (down $78)
SIM/HIVE pool - $145 (up $73)
BXT/HIVE pool - $1012 (up $11)
Staked BXT - $310 (up $5)
HIVE Power - $254 (up $3)
vexPOLYCUB - $46 (up $1)
ETH liquid - $29 (no change)
BNB liquid - $10 (down $1)
Asset exposure
Using the above values, and splitting pool positions into their components, we can calculate the total exposure to each asset for this wallet.
SPS - $1593 - 32%
BNB - $539 - 11%
ETH - $571 - 11%
HIVE - $1355 - 27%
SIM - $73 - 1%
BXT - $816 - 16%
vexPOLYCUB - $46 - 1%
Commentary:
Obviously a flat week overall for this fund. Up a few dollars here, down a little there. As I said above, the coming weeks will be characterized by slowly decreasing our BXT stake, and building up the SIM/HIVE pool. Aside from that, everything will pretty much just chug along. I think we are pretty well positioned, so that if SPS rises during a more bullish market than we are currently in, we will do well. Our HIVE exposure through the pools is a decent portion of the wallet, and we all know where we hope HIVE price goes.
So now its just tweaking around the edges, keep working to maintain 100 HIVE for dividends, and monitoring and watching for new opportunities.
I'm watching the fairly new token, DRIP, on Hive Engine closely. I have picked some up on my personal account, and am thinking it could be interesting to add to our wallet. I've been interested enough to buy in personally, but I adopt a different risk profile with my personal funds than I do with Spinvest funds. Still considering, but I'm keen to get our SIM pool built up first.
Totals and conclusion:
- Total asset value this week: $4991
- Total asset value last week: $4973
- Weekly gain/loss: up $18
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.
Posted Using LeoFinance Alpha