Yes now, welcome to this week's RUG report!
See RUG's launch post for full details
Week 0008
Hello plebs, this week has been ok. It's not been good are bad and we've earned pretty much the same this week as last. I mean in terms of APY we are killing it and I dont think anything on HIVE compares but for us, it's been a normal 50% APY week. While others would be screaming this, we're just like...50%, whatever, that'll do. They dont have our better-than-BTC tech bro
I moved some of our PEPE/BNB LP in SOL/BNB, it's a lower APY but SOL and BNB align better than PEPE and BNB so we have a little less but for longer. It is not a matter of updating the PEPE/BNB more often and more so the fees it costs to do so. Conversion and network fees are not to be underestimated, half a per cent here and there soon adds up to thousands of dollars. I also jumped into a new LP with ETH, its APY is really shit but it's nice to hold a little ETH for if we've ever got rich enough to LP on the ETH blockchain.
Below are the LPs we are invested in and below that is the breakdown of RUG into each crypto within those LPs.
The overall amount managed under RUG increased this week and we can see the price increased by 1 cent. We've been going sideways the past few weeks with the rest of the market so we're in limbo waiting. At least there is still enough trading going on to give the US a decent yield, I'd think in 12 months much more trading volume will be happening and it's very possible we'll be earning a higher APY than today but we'll see.
The HIVE price dropped a little because HIVE increased more than our LP tokens. I dont care for the HIVE price, to be honest, it's only important for selling and buying back RUG tokens. After I get my hands on it, it's not longer HIVE, it's dollars in my eyes.
That might not sound very HIVE bullish but see below that in 9 weeks, RUG has bought over $1050 of HIVE from the open market to pay rewards. We're currently buying $120-150 worth of HIVE each week and that number is only going up, does any other project do this?
Anyway, the market as I write is mooning so im hopeful next week's report will be just as good. I have already shipped DBOND rewards to @rugpay and you will receive them shortly if not already.
Peace out!!!
| Week | Circ RUG | Wallet $ | Harvest $ | HIVE to @rugem | HIVE to @dailydabs | DBOND Minted | RUG APY |
|---|---|---|---|---|---|---|---|
| 1 | 12,945.76 | $5,781.31 | $75.52 | 335.00 | 83.75 | 251.25 | 68.16% |
| 2 | 13,353.57 | $5,432.69 | $81.25 | 440.02 | 110.00 | 330.01 | 78.04% |
| 3 | 14,143.49 | $5,772.91 | $85.5 | 411.80 | 102.95 | 308.85 | 57.96% |
| 4 | 14,615.47 | $7,037.34 | $116.28 | 510.18 | 127.55 | 382.64 | 64.66% |
| 5 | 15,434.08 | $7,119.59 | $60.48 | 274.10 | 68.53 | 205.58 | 33.28% |
| 6 | 20,854.96 | $9,094.35 | $114.08 | 548.92 | 137.23 | 411.69 | 49.09% |
| 7 | 22,613.19 | $8,210.18 | $256.36 | 1369.54 | 342.38 | 1027.15 | 122.09% |
| 8 | 25,464.13 | $8,932.68 | $132.55 | 740.26 | 185.06 | 555.19 | 58.07% |
| 9 | 29,406.91 | $10,690.01 | $144.38 | 737.92 | 184.48 | 553.44 | 52.86% |
Anyways, the public sale is now over and RUG will be relisted at its market value. I still have plans to distribute RUG directly through your HIVE wallet but im having some problems with updating the price and it'll take a few weeks to sort out. Until then, you can buy RUG here
RUG Rewards have been shipped already! See ya'll plebs next week.
