This article is from Babbitt, author longcrypto, and is reproduced with authorization.
Recently, the news that a domestic film and television star earns 2 million a day has aroused widespread concern in the society. Some media used "She is making a film, you have to work without food or drink for 1191 years" as a headline report, which made many workers feel uncomfortable. Regrettably, the salary of the star is not glorious, involving tax evasion.
In the rising DeFi industry, it is not out of reach to earn millions a day through mining or farming. The important thing is that the source is transparent and can be checked on the chain.
For example, Sam Bankman-Fried (SBF), the co-founder and CEO of FTX and a consultant to Serum, has nearly 3 billion US dollars in farming in a public address, and can earn about 2 million US dollars in profits every day.
Some people will say that his capital volume is too large, and it has no reference value for DeFi farmers with ordinary capital volume. In fact, SBF was worthless in the blockchain industry three years ago. Today, under the age of 29, his net worth has soared to tens of billions of dollars, making him the richest person in the blockchain industry. Therefore, observing his holdings still has certain reference significance for ordinary DeFi farmers farming.
1 SBF wallet holding combination
The assets in the SBF wallet are worth 200 million U.S. dollars, and the remaining 2.5 billion U.S. dollars are in farming.
In the wallet, the top five assets with the highest holdings are SRM ($170 million), USD ($100 million), BBTC ($5.49 million), SXP ($4.94 million), and USDC ($4 million).
SRM is the token of Serum, and SBF has been helping build Serum since last year. At the "Super Computing Convergence, 2021 Global Blockchain Computing Power Conference" held by Babbitt not long ago, SBF praised Serum's achievements.
In the past week, the SOLANA ecosystem has exploded, and almost all Solana applications are based on Serum. But Serum's overall valuation of nearly $100 billion is really daunting. SXP ushered in good news today, the project announced that it had destroyed 17% of SXP tokens, currently worth more than 200 million US dollars. Subsequently, CZ, the founder of Binance, also tweeted that he was surprised by the project's move. As of press time, SXP is up more than 20%.
2 land combinations
The main funds of SBF are used for farming, and the funds on BSC account for the largest proportion, which indirectly shows that BSC is attracting more and more users to participate.
There are nearly 600 million US dollars of funds on Ethereum, mainly concentrated in sushiswap. LP mainly consists of ETH with SUSHI, YFI, AAVE, LINK, SNX, REN, UMA and stable coins.
These tokens selected by SBF are basically the leaders in the segmented fields. For example, AAVE is the leader in flash loans, LINK is the leader in oracles, and SNX is the leader in derivatives. The most worrying thing in group LP mining is the risk of impermanent loss. If you choose an industry leader, you can enjoy the bonus of rising token prices and get an extra profit. The fact is also the same. After the adjustment of DeFi tokens in October last year, almost all leading tokens have reached new highs, and even like AAVE and SUSHI significantly outperformed ETH in the same period.
The funds on BSC are 1.9 billion US dollars, which are relatively scattered, including Belt, MDEX, Bunny, Venus, Pancakeswap, Nerve, and Ellipsis.
On Belt, Nerve, and Ellipsis, almost all stablecoins are farming, with an annualized return of more than 30%.
On MDEX, the strategy adopted is to use stablecoins such as USDT with ETH, BTC, BNB, XRP, ADA, LTC, DOT, etc. as LPs to cultivate land. These assets are basically the top ten projects in the cryptocurrency market capitalization list.
On Bunny and Pancakeswap, BNB is paired with BTC, ETH, DOT, UNI, XRP, BAND, ALPHA, ADA, SXP, DODO, XVS, and USDT. It is worth noting that XRP and ADA have been criticized by many insiders, but SBF does not seem to care about these.
$2.3 million in 3 days
Farmland cultivated above SBF, according to the current market conditions, can bring in a daily income of 2.3 million US dollars. Compared with the cost of 2.5 billion US dollars, the annualized rate of return is about 33%.
Sushiswap: Daily income of 450,000 US dollars
Belt: $330,000 a day
MDEX: Daily income of $320,000
BUNNY: $880,000 a day
Pancakeswap: $230,000 a day
Nerve+Ellipsis: $90,000 a day
With the click of a mouse every day, more than 2 million US dollars are credited. This is the kind of SBF
It should be noted that there are risks in DeFi farming. For example, a loophole in a project on BSC yesterday led to the theft of 50 million US dollars of funds. At present, investors' funds are almost impossible to recover. In addition, BUG of the project party will also cause damage to users' funds. For example, the previous upgrade of the lending platform Venus on BSC has resulted in bugs in many smart pool strategies that have damaged users' funds. So far, some smart pools have not compensated users for this part of the loss.
