Welcome to this weeks update from the @spinvest-leo account. This wallet manages a small portion of the overall @spinvest fund, and sends HIVE back to @spinvest each week to contribute to the pool of funds for dividends. This wallet is managed by @jk6276. The main focus of this account is to generate yield to contribute to the weekly dividends for holders of SPI tokens. Our current target is to send 100 HIVE per week back to @spinvest. Primary holdings are positions in SPS liquidity pools, along with some Hive engine based investments.
Maybe not a great reset, but a re-adjustment at least
Position changes this week:
Well, it has been a few weeks since I last published an update post. It is time to adjust how this wallet is managed. The goal I set myself was to send 100 HIVE per week through to Spinvest each week to go to the dividend pool. However, this wallet is no longer generating that much income, by a long way. Last time I was in this position, just a few months ago, @silverstakeruk sent a $1500 top up, to boost this wallet along. However, due to the continued decline of some of our main assets - most notably SPS - the majority of that value has faded away, for now at least. the other reason for the decline in values is that I am sending more each week than I am earning - eating away at the principle. That has to stop.
More specifics later in this post, but the TLDR is that I'll drop back to sending 50% of generated income each week, and use the other 50% to re-invest. I think in the short run, that will mean a drop to around 25 - 30 HIVE sent for dividends each week, but in the long run a return to sustainability.
Current holdings:
These numbers are comparing to last weeks values which were not published on-chain, but were dropped into discord.
SPS/BNB pool - $779 - up $12
SPS/HIVE pool - $586 - down $44 (I have removed some funds from here)
SPS/ETH pool - $821 - up $27
SIM/HIVE pool - $470 - up $82 (funds added here)
BXT/HIVE pool - $555 - up $26
Staked BXT - $230 - up $11
HIVE Power - $253 - up $15)
Miscellaneous - $65 - up $2)
(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 - $1093 - 29%
BNB - $396 - 11%
ETH - $437 - 12%
HIVE - $1059 - 28%
SIM - $235 - 6%
BXT - $508 - 14%
vexPOLYCUB - $33 - 1%
Commentary:
So, despite a slightly positive week this week (mainly a small uptick in the last 24 hours) sending 100 HIVE per week is just no longer sustainable. I will go back to sending 1/2 of the income generated each week. I think this will mean the amount sent through will drop significantly, down to around 25 - 30 HIVE per week, in the short run. However, in the long term, it will be better for asset growth, and build the income more sustainably over time.
I don't plan to significantly change the asset mix much more. The only thing I think I will do is go back to stacking LEO tokens. The account is Spinvest-LEO after all, we should own some LEO at least. So, that is the basic update, income sent each week will drop, but hopefully we can return to sustainability and when better times return, we will be positioned for growth.
Totals and conclusion:
- Total asset value last week: $3759
- Total asset value this week: $3628
- Weekly gain/loss: Up $131 - 👍
100 HIVE sent to @spinvest for weekly dividends for the last time 😪.
Thanks for taking the time to read our weekly update. If you would like to learn more about @spinvest, and the $SPI token, check out the main account and review the weekly update post.