Crypto portfolio update

Invested in: Jewel (JEWEL), Luna (LUNA), Avalanche (AVAX), Ether (ETH)

Net return: 248.4%

Comments: The majority of my crypto holdings remain in the form of heroes (in DeFi Kingdoms), and over the past couple of weeks I'd been buying more because I still find many of them to be undervalued. This has ballooned the 'Hero' component of my portfolio, and to be conservative I've decided to slow down my purchases and have begun to start selling some.

The proceeds of the hero sales will be allocated into various DFK farms, including those with LUNA, AVAX and ETH. The APRs on those farms are still high but they won't stay that way forever... and I'd like to earn as much of those yields as I can.

In related news, the DFK developers have announced an expansion of the game into the Avalanche blockchain, which is - all things considered - good news. My plan is to stack up on JEWEL over the next few months so I can stake them in the Ice Gardens when the expansion goes live.

Meanwhile, game activity in Serendale (Harmony) continues to grow with the introduction of profession quests and the meditation circle.

Over the past 7 days, DFK reached 60% of the transaction volume of Axie Infinity, despite having only 20% of their user numbers... and the DFK game functions have only just started rolling out! Once all profession quests, adventure quests, PvP and cross-chain functionality is up on running, the transaction volume of DFK will easily eclipse that of Axie Infinity. Barring any mishaps, I think it's inevitable that DFK overtakes Axie Infinity as the #1 crypto game.

Accordingly, I remain hugely bullish on DFK and have effectively gone "all in" on it.

Admin update

• If you missed the previous newsletter, you can read it here.
• Over the past couple of weeks I've published some new videos:
  • The secret of impermanent loss
  • DeFi investment update
  • Early leveling strategy in DeFi Kingdoms
• New here? You can sign up to receive future issues in your inbox.

₿ Crypto market commentary

• The overall crypto market is caught in a lull, with bitcoin having made a 39% pullback from $69k to $42k. As a result, many of the other cryptocurrencies have also made a significant dip, though it should be noted that ETH, LUNA and JEWEL have remained comparatively resilient.
• I had previously expected the crypto bull market to surge into the end of the year, but from the looks of things now that scenario seems unlikely. To be clear, I do not think that the bull market is over... but, I also do not expect it to resume any time soon.
• In the meantime, I am content with playing DFK and earning 780% APR in the DFK farms. This gives me time to keep growing my JEWEL stack.

In other news

• Federal Reserve chairman Powell says it's time to retire the word "transitory" regarding inflation.
  • Well surprise surprise. First the Fed said there was no inflation. Then they said inflation was "transitory". Then they called inflation "frustrating". Now, they say the word 'transitory' means “different meanings to different people”.
  • When people beat around the bush and talk around the "different meanings" of words, my BS alarm goes off. It usually means they're not being straight with you.
  • Thankfully, I realized this 6 months ago and have adjusted my investment portfolio accordingly... which is now up more than 240%.
  • Literally every forecast the Fed has had about inflation since 2020 has been wrong. Are these highly decorated economists really that dumb? Or... are they simply spinning a story for the masses?
  • If you don't learn to think for yourself you'll be led around in circles while the rich get richer and you fall further and further behind.

 Quote of the week

Short-term easy often leads to long-term hard.

- Shane Parish

 Something amusing

Check out this cute dog buying food for its owner.

Thanks for reading, and have a great weekend.

Cheers,
Slowmad

P.S. If you have any questions or feedback, let me know at: chris[at]digitalslowmad[dot]com

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