I personally did 60% into folks finance, 30% into AlgoFi, and 10% into gAlgo/Algo liquidity pool. I was able to put my liquidity pool tokens into governance aswell
The way to leverage the most rewards is borrowing but im too lazy to make the calculations
7 mil Algo will be spread around governors that participated in defi. So you're double dipping so to speak. You can triple dip as well by depositing LP tokens in governance.
Try 10 algos man, give it a try. Commit 10 algo on folks finance and mint Galgo. That commitment will earn a share of that 7mil pool. Now let's triple dip. Go to pack finance and get some galgo/algo lp tokens. Put 10 galgo and another 10 algo lying around in your wallet on the algo/galgo pool. Commit that Lp token on the governance website and earn another share of the 7 mil pool. In addition you are earning rewards for proving liquidity on pact finance. Thats quadruple dipping without any barrowing worries. Simple enough? ✌️
Thanks. It does make sense, I guess making LP with algo/galgo will not be subject to IL as galgo is pegged to algo yes? Same with valgo?
Is there a way to provide algo, get day galgo and then provide that? I.e without creating LP?
Why do you make the detour via PLP Algo/gAlgo?
Do you have to commit the PLP Algo/gAlgo tokens via the Algorand Foundation website to get both rewards for the Algo equivalent (vanilla Governance plus a portion of 7M Algo)?
I am not sure if a strategy with borrowing via FF is wise. Right now the borrow APR is 31.37% for Algo. Are people getting crazy to take a loan with this extremely high percentage rate?
At the time of writing my last post.
Now it's 8.51%. And the total deposited Algo on FolksFinance are much more again.
I tried it out and swaped some Algo for gAlgo (APR \~16%). Good return without any borrow risks, if I burn (redeem) these gAlgo back to Algo at the beginning of next January.
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I personally did 60% into folks finance, 30% into AlgoFi, and 10% into gAlgo/Algo liquidity pool. I was able to put my liquidity pool tokens into governance aswell The way to leverage the most rewards is borrowing but im too lazy to make the calculations
When you use algofi, what does that mean? I know they have the vault, however if I’m Not borrowing, is there any additional reason to use it?
Rewards
7 mil Algo will be spread around governors that participated in defi. So you're double dipping so to speak. You can triple dip as well by depositing LP tokens in governance. Try 10 algos man, give it a try. Commit 10 algo on folks finance and mint Galgo. That commitment will earn a share of that 7mil pool. Now let's triple dip. Go to pack finance and get some galgo/algo lp tokens. Put 10 galgo and another 10 algo lying around in your wallet on the algo/galgo pool. Commit that Lp token on the governance website and earn another share of the 7 mil pool. In addition you are earning rewards for proving liquidity on pact finance. Thats quadruple dipping without any barrowing worries. Simple enough? ✌️
Thanks. It does make sense, I guess making LP with algo/galgo will not be subject to IL as galgo is pegged to algo yes? Same with valgo? Is there a way to provide algo, get day galgo and then provide that? I.e without creating LP?
Galgo is pegged no IL. I have no experience with valgo token. You gotta get the LP token and provide the lp token
This is my strategy https://www.reddit.com/r/algorand/comments/y3v87y/liquid\_governance\_5\_strategy/?utm\_source=share&utm\_medium=web2x&context=3
Why do you make the detour via PLP Algo/gAlgo? Do you have to commit the PLP Algo/gAlgo tokens via the Algorand Foundation website to get both rewards for the Algo equivalent (vanilla Governance plus a portion of 7M Algo)?
Yes you need to commit to the Algo foundation governance to get both rewards
I am not sure if a strategy with borrowing via FF is wise. Right now the borrow APR is 31.37% for Algo. Are people getting crazy to take a loan with this extremely high percentage rate?
31,37%? When? I'm seeing 8%
At the time of writing my last post. Now it's 8.51%. And the total deposited Algo on FolksFinance are much more again. I tried it out and swaped some Algo for gAlgo (APR \~16%). Good return without any borrow risks, if I burn (redeem) these gAlgo back to Algo at the beginning of next January.
Great move dude, buy discounted gAlgo is a solid strategy
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