Spinvest-leo weekly update post - 3 Feb 24

Welcome to this weeks update from the Hive account@spinvest-leo account. This wallet manages a small portion of the overall Hive account@spinvest fund, and sends HIVE back to Hive account@spinvest each week to contribute to the pool of funds for dividends. This wallet is managed by Hive account@jk6276. The main focus of this account is to generate yield to contribute to the weekly dividends for holders of SPI tokens. 50% of the income generated each week is sent to Hive account@spinvest to contribute to the weekly dividend. Primary holdings are positions in SPS liquidity pools, other BeeSwap pools, along with some Hive engine based investments.

Position changes this week:

Continued to add to the BXT pool position. For those that are not aware, there are changes happening to the BXT distribution and structure. In Discord, Gerber shared that they are working on Beeswap whitepaper 2.0. Already, BXT rewards on all pools except the BXT pool have ended. This means that currently, there is 35 BXT per day being split between the BXT pool (20), liquidity providers (10) and a community fund (5). There is likely to be some simple governance process to allocate a total daily distribution of 100 BXT across a few options.

I think that dropping the pools out, like HIVE/BNB and so on is a good idea. Most of the liquidity in these "swap" pools is provided by Aggroed.

Personally, I'd love to see a second conversion option seeded for HBD to swap.HBD. Some of the BXT rewards could be used to incentivize a BXT/HBD pool, and some to liquidity providers/convert rewards on this option. Staked BXT would earn rewards of both HIVE and HBD, which would increase its attractiveness as a long term hold. Just my thoughts, interested to see if Hive account@gerber has considered a second conversion pool for HBD?

Anyway, sidetracked a bit from the point - no major changes to holdings this week.

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Current holdings:

• SPS/BNB pool - $1211 - down $3

• SPS/HIVE pool - $463 - up $9

• SPS/ETH pool - $1253 - up $4

• SIM/HIVE pool - $457 - down $22

• BXT/HIVE pool - $60 - up $16

• ZING/HIVE pool - $563 - down $15

• Staked BXT - $574 - down $32

• Staked LEO - $21 - up $3

• HIVE Power - $274 - down $12

• Miscellaneous - $71 - up $1
  (vexPOLYCUB, liquid ETH & BNB)

Asset exposure

Using the above values, and splitting pool positions into their components, we can calculate the total exposure to each asset for this wallet.

• SPS - $1464 - 29.58%

• BNB - $614 - 12.4%

• ETH - $664 - 13.41%

• HIVE - $1046 - 21.13%

• SIM - $229 - 4.62%

• BXT - $604 - 12.21%

• ZING - $282 - 5.69%

• LEO - $21 - 0.42%

• vexPOLYCUB - $26 - 0.53%

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Commentary:

The main thing to note this week is that our weekly yields are declining. ZING pool has gained more liquidity while also experienced a drop in rewards. This has resulted in a decrease in the amount we earn from this pool. Add to that the SPS price remaining well below its recent run, and we are down in income from previous weeks. Asset values are relatively stable, with a small decline in HIVE and BXT meaning we end the week slightly negative.

Profit share dropped from 70 HIVE to 63 this week, and it is likely to drop again next week. If we can hold it over 50 HIVE per week I'll be happy, until things for HIVE start moving or we jump in to a new opportunity.

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Totals and conclusion:

• Total asset value last week: 4998
• Total asset value this week: 4947
• Weekly gain/loss: down $51

63.039 HIVE sent to Hive account@spinvest for weekly dividends. This is down around 7 HIVE from last week.

Thanks for taking the time to read our weekly update. If you would like to learn more about Hive account@spinvest, and the $SPI token, check out the main account and review the weekly update post.

This post authored by Hive account@jk6276 on behalf of Hive account@spinvest-leo. 50% beneficiary set to Hive account@jk6276