Day 280 of dollar cost averaging $20 dollars into solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv
Total solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv collected: 2,665,029
Hey all, so I made a post yesterday but I swapped some solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv for solana:7MCgYMzq3fov6oERdtTMAYbN2U9LZrrSYS1MBhjixZFr
About 550K solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv for 5 million solana:7MCgYMzq3fov6oERdtTMAYbN2U9LZrrSYS1MBhjixZFr tokens.
Was it a bad move? Personally, I don’t think so. solana:7MCgYMzq3fov6oERdtTMAYbN2U9LZrrSYS1MBhjixZFr is a derivative of solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv and pays out yield in solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv
By selling 550K solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv, but buying 5 million solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv, all I really did was swap the wrapper that maintained the LP pool.
AKA, Pengu /SOL /USDC or Polly/Pengu
Polly’s liquidity pool is 100% solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv
5 million solana:7MCgYMzq3fov6oERdtTMAYbN2U9LZrrSYS1MBhjixZFr is yielding me about 30 dollars daily in solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv atm with the current volume, but if volume gets explosive as solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv begins to rally, that would be awesome.
Plus my entry was decent, AVG 800K market cap for solana:7MCgYMzq3fov6oERdtTMAYbN2U9LZrrSYS1MBhjixZFr when swapped. It’s trading at 1.2 million atm. However the journey wasn’t up only lol. It zig zags, as all of crypto does, after all, people trade :)
I believe the meta is changing and yield tokens will be where most money is invested now. It’s still a risk, people can still get rugged, so it’s important to do research on a token before aping in.
But I believe in solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv, and I believe a yield token wrapped around solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv with the IP of solana:7MCgYMzq3fov6oERdtTMAYbN2U9LZrrSYS1MBhjixZFr will succeed.
The solana:7MCgYMzq3fov6oERdtTMAYbN2U9LZrrSYS1MBhjixZFr community is the strongest fan community for Pudgy Penguins. The team has experience and to be fair, solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv needs this wrapper to give it utility.
I personally see a world where an ETF or DAT is centered around the ownership of both solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv and solana:7MCgYMzq3fov6oERdtTMAYbN2U9LZrrSYS1MBhjixZFr
A Pudgy ETF if you will. These two tokens complement each other, one is transactional, the other is HODL and earn the transactional currency.
For math nerds, 3% of fees are split between holders.
100K daily volume on 0.5% token supply holding earns 15 dollars worth of solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv
If solana:7MCgYMzq3fov6oERdtTMAYbN2U9LZrrSYS1MBhjixZFr peaks mania during
$PENGU season, and daily volume reaches 100 million (what
$PENGU does on average), 0.5% token supply holding earns 15K in one day holding.
My investment was only 4K..
The math for me says the risk is worth it :)