July review for NxM Defi
Adjusted proposal for July to be for $500, and submitted to AstroDAO for payout voting on 6/22.
Received seed phrases to NxM wallet from Pawel Crans on 6/22
Swapped 500 USDT for 150.12 wNEAR
Swapped 75.06 wNEAR for 2631.759 Pembrock
Put 2631.759 PEM and 74.978 wNEAR into PEM-wNEAR LP for 0.070039 shares
Put 0.070039 shares into PEM-wNEAR farm (all steps taken 6/22)
Estimated ROI is ~$1.634 in USN per day
Farm closed 6/30, funds withdrawn 7/1
Swapped 72.8347 wNEAR for 243.767 USN
Placed 243.767 USN & 2717.2812 PEM into liquidity pool and subsequent farm (7/1)
.051162 shares total.
Current rewards as of 8/1 = 69.04 USN
In our first month of exploring defi for the NxM community, we earned $69.04 worth of USN. I currently have our resources remaining in the Pem-USN farm. If the council would like to continue this process, please let me know. And if there are resources from August that we would like to add to farming, please make me aware of the desired budget, and I will write a corresponding proposal and fund request for August.