SmartIndex weekly report #3 (29th Aug to 4th September)

Welcome to the SmartIndex weekly report. First, I apologize for barely having time for the project this week. I had a sudden problem which took all my time. Here's a summary about this week events and performance of the portfolio:

Rewards allocation

Rewards from staked tokens, farms and punks for this week can be seen in the snapshot taken today here.

Rewards have been allocated in the next fashion:


Proposal #48 was approved and all our DAIQUIRI was sold for 6.87 USD. The big drop in value and APY happens along all projects in SmartBCH due to several factors, this leads to proposal #49.

SmartIndex portfolio currently just hold assets on the SmartBCH chain. Due to the bear market and the CoinFlex, the portfolio value and yields are declining quickly. There's some hype regarding DOGE chain, so the proposal aims to buy some NFTs in that chain hoping their value will increase in time. This is the first step for SmartIndex becoming a multi-chain project.

Technical upgrades and economic performance

I apologize again for not having enough time this week, so the improvements at technical level are little:

  • Added a scroll box on the snapshots yield list to make the interface cleaner.
  • Added a pie chart showing how value is distributed a across farms in the transparency portal. Also I optimized the code for making the charts.
Distribution of the value located in farms

This is a useful chart to realize if a farm is over/underdimensioned, specially if we take in mind the yield percentage of farms graphics.

For example, 35% of the current value is located in WBCH/bcBCH (MIST), but this farm offers a low yield. On the opposite side, our Tangoswap farm makes only 12% of the staked value in farms, but the yields are higher these last weeks (around 4% weekly).

This things have to be taken into consideration while reallocating money into farms.

Buy/sell orders

Currently, SmartIndex assets are only bought or sold after a proposal is approved. This is a very slow way to take profits and stop losses.

There are now automatization scripts that allow us to buy or sell assets at a certain point. This means that any proposal can now also set a target price.

For simple SEP20 tokens, this can be done integrating Tangoswap limit orders or simply writing a script in the server. For assets in other chains like DOGE chain, a script must be used until there's a limit order service.

For staked assets, writing a script for unstaking the asset (or a portion of it) and sell it is easy enough. This makes SmartIndex to have one advantage over an order book system.

Multi-chain integration

If proposal #49 is approved, SmartIndex will become a multi-chain project. The first step is to adapt the Punk's crawling system to OASIS, to get the floor price of NFTs and display it in the portfolio tracker.

If other proposals are approved and ERC20-compatible tokens are added, DOGE chain will be integrated to get balances and current prices. Also, interaction with a DEX must be integrated to be able to trigger buy/sell orders at a target price.

More complex things need more discussion: like SIDX bridging, which affects the voting system. Several ways can be explored to do such things.