Sunday ... Bribeeeeeee Sunday !
Hi HODLers,
Today is Sunday... Lazy Sunday!
So usually, I don't do much. Clean the house, do some laundry and of course I check my DeFi Farms.
As most of you know I am heavily invested in Fantom Network and SpiritSwap's ecosystem. For many reasons that I will not detail here (mostly a great V2.0 incoming).
I have invested in one of the wrapped governance inSpirit token called rainSpirit which allows me to get the $SPIRIT emission rate AND bribes from other protocols on a weekly basis.
Every week pools are opened where I can simply stage my rainSpirit and I just have to choose between differents assets and APRs.
rainSpirit pools for this week
Compared to last week we have one more farm. c.$18k rewards are distributed this week. Up 10-15% compared to last week. What is interesting, is that with just 10/15% more rewards, APR look very different.
If I remember correctly last week pools:
- rainSPirit pool: 110-120%
- CRE8R pool: 140-150%
- SCARAB pool: 140-150%
As of now, every pool has a much higher yield. Let's see how this evolves during the week.
I personally decided to let half my stage in the rainSpirit Staking pool and half into the RING Bribe Farm.
I probably will sell the $RING to buy more rainSpirit. I just want to dig deeper into the project before.
Following the end of high $SOLID emissions, a lot of investors dumped their rainSpirit that they used to farm more $SOLID. Sometimes the APR was higher than 2,000%+ . Once these were over, they dumped rainSpirit.
Today the PEG is not even near to being closed... we site at 42.7% which is really bad.
Nevertheless, there is an upside to this situation. As I believe in the project, I am just dollar averaging and buying more. Therefore I get a 2x level of bribes (as there is still 1 $SPIRIT behind every rainSpirit) and I might do a 100% if we close the gap.
Time will only tell if I was right...
Stay safe out there,
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