USDT/RUNE Pool on Chaosnet - Day 15 - Losing Some Precious RUNE

LeoFinance
3 Min Read
506 Words

First of all, I gotta say that I love how the price of RUNE is increasing exponentially. I remember that just a few months back it was only $0.60 and now one RUNE is worth $3.68 which is an increase of more than 600% since I first read about it. Thanks to the Leo community, I even bought some RUNE myself. It was a great decision.

Then two weeks back I decided to try out Chaosnet and become a liquidity provider myself. I chose a pair which is USDT/RUNE and deposited some of my assets in the pool. Right now, it is day 15, RUNE is pumping and I am losing RUNE in the pool because of the impermanent loss.

See for yourself, this data is about RUNE:

day15rune.PNG

As you can see in both screenshots, I've lost more than 37 RUNE which is a lot for me. The chart below is looking even more dramatic!

day15runedata.PNG

And the overall statistics table looks like this. As you can see, I can redeem 55 from the initial 75 RUNE that I inserted in the pool. As for the USDT, I had 146 at the beginning and now I can redeem $208

day15runeoverall.PNG

USDT perspective:

We can switch all the data to look from the USDT point of view. If we do it like that, we see that I've gained more than $120 in these two weeks. Overall, I've lost 2% vs HODL meaning if I didn't use the pool, I'd have gained more. And I wouldn't have lost RUNE.

day15asset.PNG

At least this chart looks better but it's USDT. I don't care about it as much as I care about RUNE. In the next pool, I think I won't use stable coin but some other crypto that is worth it.

day15usdt.PNG

What do you think boi should do?

Right now, I'm thinking of taking the liquidity out once the price of RUNE stabilizes or goes lower because as far as I understand, then I could get more RUNE out of the pool. Maybe I should just leave these tokens in a pool but if RUNE goes much higher, I would simply lose all of them and remain with a bigger amount of fiat which I would use to buy back the same RUNE tokens.

Are you waiting for the BTC/RUNE pool?

I heard multi-chain pools are closer than you could think. I know that many are waiting for the BTC pools to open. It will truly be exciting! And the price of RUNE will probably skyrocket then.

Thank you for reading and following this journey!


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Posted Using LeoFinance Beta