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Step 2. We bring ETH to Contago. We open a leveraged position in the cbETH/ETH pair with x10 leverage. The platform has a higher yield in the ezETH/ETH pair, but the ezETH wrapper is riskier and has already been subject to deposit.
Contango is an automatic looping protocol. Invested: $4,000,000. Investors: Coinbase Ventures, The Spartan Group and others. TVL: $40 million. Tier-3 protocol.
During the test period:
– October 4, we deposited 0.73 ETH
– October 30, we withdrew 0.74 ETH
Final calculation of the yield on the position:
On ETH, we received 1.62% per month or 19.4% per annum.
Taking into account the USDC loan, we get 12.9% per annum.
In addition, in this strategy, we also claim rewards from the projects:
- Base (no token yet)
- Morpho (no token yet)
- Contango (* they have already announced incentives for early users, farming rewards is not relevant) 0 reply
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