Experiences with Songbird Finance so far?

[Seoulite]

It seems like the big difference is being made by the amount of people in the pool. Is it worth buying SFIN directly and then putting it in the SFIN/CAND pool? The problem is that these APYs have already started to fall. Who knows how low they go. 

[jn_r]

Found the programming solution, pretty easy (obviously once you know it), just take totalSupply of the farm contract. Anyways, here's a last update. Maybe I'll check for a contract retrieval of the 'reward', then I'll be fully chain-based (am pressing buttons now and leaning backwards ):

------------------------------------------------------------------------------------------------------
SGB/CAND:       0.1030                EXFI/CAND:       3.5230                  SFIN/CAND:     84839.99
------------------------------------------------------------------------------------------------------
Farm      | Token1 total | Token2 total |     Total in CAND | Reward | Reward per 1000 CAND |      APR
------------------------------------------------------------------------------------------------------
SFIN      |    31.675909 |              |   2687383.71 CAND | 0.1369 |      0.00005094 SFIN |  157.86%
SFIN/CAND |    17.285106 |   1466468.20 |   2932936.40 CAND | 0.4109 |      0.00014010 SFIN |  434.13%
EXFI/CAND |    619440.66 |   2182267.38 |   4364534.76 CAND | 0.4109 |      0.00009415 SFIN |  291.74%
EXFI/SGB  |   1111423.84 |  37806925.81 |   7810564.83 CAND | 0.4109 |      0.00005261 SFIN |  163.02%
SGB/CAND  |  24272847.56 |   2500709.93 |   5001419.87 CAND | 0.4109 |      0.00008216 SFIN |  254.59%
EXFI      |   7089000.76 |              |  24974297.08 CAND | 0.2739 |      0.00001097 SFIN |   33.99%
CAND      |   2126875.86 |              |   2126875.86 CAND | 0.0684 |      0.00003216 SFIN |   99.66%
WSGB      | 318972348.04 |              |  32862123.69 CAND | 0.2739 |      0.00000833 SFIN |   25.83%
------------------------------------------------------------------------------------------------------

 

[RambeauTeasebox]

Thanks, @jn_r! This is great information.

I started in the EXFI pool and am rolling it all into the SFIN pool, then compounding every few days. My experience with the risk/reward of non-stablecoin LP in Ethereum wasn't great for the year or so I played around with it, so I'm staying out for now.

[JASCoder]

Crypto markets (mostly) a sea of red this morning - and SGB is ... up 18.8% !! 

o.O

Any guesses what's driving the counter action ?

[RobertHarpool]

2 hours ago, JASCoder said:

Any guesses what's driving the counter action ?

Are you asking for us to make sense out of that? Remember, we live on a flat earth, orbited by a hollow moon, where 5G causes covid, a major political party drinks baby's blood, and Hinman's speech was his opinion. 

Clearly there has been bad news for Songbird ;-) 

...

Thanks, @jn_r ... nothing as good as being able to make evidenced-based decisions :-) 

[Seoulite]

6 hours ago, JASCoder said:

Crypto markets (mostly) a sea of red this morning - and SGB is ... up 18.8% !! 

o.O

Any guesses what's driving the counter action ?

Maybe Flare are planning to actually launch the next protocol? Could it be true?

[Seoulite]

So these APYs are falling day after day. Why is that? Is it because the pool supply is getting lower each day? Is it because more people are joining the pools? At this rate the APY will be 1% in a month or two. Is this intended?

[jn_r]

7 hours ago, Seoulite said:

So these APYs are falling day after day. Why is that? Is it because the pool supply is getting lower each day? Is it because more people are joining the pools? At this rate the APY will be 1% in a month or two. Is this intended?

It is what you often see as more and more people attend the pool. But at one point some sort of balance is achieved.

You also have to be careful for the pools where the reward asset is staked (in this case SFIN and especially SFIN/CAND) as the staked items tend to decrease in value, since more and more of the reward assets enter the market. On the other hand if the asset really has promise value then you might end up big winner. Depends on your risk appetite I guess.

Also we see lately that SFIN decreases in value, so overall the rewards decrease in comparison to the stake.

Here's an updated overview:

------------------------------------------------------------------------------------------------------
SGB/CAND:       0.0935                EXFI/CAND:       3.7009                  SFIN/CAND:     80153.52
------------------------------------------------------------------------------------------------------
Farm      | Token1 total | Token2 total |     Total in CAND | Reward | Reward per 1000 CAND |      APR
------------------------------------------------------------------------------------------------------
SFIN      |    31.189149 |              |   2499920.17 CAND | 0.1370 |      0.00005480 SFIN |  160.42%
SFIN/CAND |    19.706633 |   1579556.09 |   3159112.18 CAND | 0.4110 |      0.00013009 SFIN |  380.84%
EXFI/CAND |    634188.49 |   2347048.82 |   4694097.65 CAND | 0.4110 |      0.00008755 SFIN |  256.31%
EXFI/SGB  |    987148.91 |  38719224.92 |   7274017.18 CAND | 0.4110 |      0.00005650 SFIN |  165.40%
SGB/CAND  |  26384538.56 |   2467268.07 |   4934536.14 CAND | 0.4110 |      0.00008328 SFIN |  243.82%
EXFI      |   6042866.39 |              |  22363859.73 CAND | 0.2740 |      0.00001225 SFIN |   35.87%
CAND      |   2475387.85 |              |   2475387.85 CAND | 0.0685 |      0.00002767 SFIN |   81.01%
WSGB      | 353449847.30 |              |  33051763.29 CAND | 0.2740 |      0.00000829 SFIN |   24.27%
------------------------------------------------------------------------------------------------------

 

[brianwalden]

19 hours ago, Seoulite said:

So these APYs are falling day after day. Why is that? Is it because the pool supply is getting lower each day? Is it because more people are joining the pools? At this rate the APY will be 1% in a month or two. Is this intended?

Just to add on to what @jn_r said in case it wasn't clear. These types of pools usually have a fixed amount that's paid out per day and gets split among everyone in the pool. So as more people enter the pool, the reward pie gets divided into smaller and smaller slices.

[brianwalden]

1 hour ago, brianwalden said:

Just to add on to what @jn_r said in case it wasn't clear. These types of pools usually have a fixed amount that's paid out per day and gets split among everyone in the pool. So as more people enter the pool, the reward pie gets divided into smaller and smaller slices.

Also remember that in addition to the SFIN rewards, if you're in a two-coin pool you're also earning transaction fees for all the swaps that people make. Unfortunately Flare Finance doesn't do a good job of giving you an idea of how much you're earning in fees.

[Seoulite]

4 hours ago, brianwalden said:

Just to add on to what @jn_r said in case it wasn't clear. These types of pools usually have a fixed amount that's paid out per day and gets split among everyone in the pool. So as more people enter the pool, the reward pie gets divided into smaller and smaller slices.

Sure I guess I was just surprised because the APY seemed to be falling much faster than the pool was getting bigger. Like as little as a few days ago the SFIN/CAND pool was 550% and now it’s almost half that.

[NightJanitor]

On 1/27/2022 at 2:15 PM, RobertHarpool said:

Remember, we live on a flat earth hey, reduced travel times!, orbited by a hollow moon cheese futures to the... moon!, where 5G causes covid too much netflix, too little chill!, a major political party drinks baby's blood i keep hearing the other one drinks Clorox!, and Hinman's speech was his opinion well, okay, maybe you've got a point.