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My Passive Income Stream (August Edition)

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Written by   26
3 days ago

I wanted to start a new monthly article feature focused on my passive income journey, welcome to the first in the series. I've seen others post their monthly "earnings" so I wanted to change it up by looking at this from a passive income viewpoint. Passive income has also become a passion of mine since first getting involved in DeFi about six months ago with an investment in The Animal Farm. These articles will tell the tale of how I am building this income stream over time and how each different investment is doing month-over-month.

Being truly passive (lazy as some might call it), I'm excluding "earned" income from sites like Publish0xread.cashPresearchTorumBrave, etc. that others include in their monthly figures since they are focused on all earnings. I am including sites where I may have to push a couple of buttons a day, week or month, but that is the extent of all the hard work I'm willing to do and still consider it passive. I may add an active income stream at some point in the future, but that just sounds like a lot of work...

The numbers presented are based on the daily income from each stream as of the first day of the month. I am breaking the income into two categories, "DeFi and other Income Streams" along with "Yield Farming" before coming up with the overall total. Here you can see a breakdown of exactly how much I am generating from each source.

In July, I invested in two new passive income projects. The first was a small amount in Liquid Capital, a new rebased token which started rebasing on August 1. The second was a investment in two NFTs from the Hydro Whales Mining Club, however, the income from this project won't kick in for another six months. Both of these investments came from earnings in one of my yield farms so no new capital was invested.

I am not including minor income from exchanges like KuCoin and that offer minimal yield returns nor any income from crypto mining which while primarily passive does require minimal attention which is quite an annoyance.

DeFi and Other Income Streams

  • SAFUU = $12.65 (rebase token)

  • YieldNodes = $9.66 (master nodes)

  • Liquid Capital = $1.33 (rebase token)

  • Midas Investments = $1.20 (CeFi exchange)

  • Hydro Whales Mining Club = $0.00 (NFT BTC mining project)

  • TOTAL = $24.75 per day

YieldNodes returned a healthy 9.2% in July which was a solid number that I was very pleased with. I base my monthly return here by multiplying the total amount I have invested by the average monthly return I've had since investing back in March which works out to 7.5% after adding in July. SAFUU has been an interesting rebase coin project that I started in on in April that I expected to lose everything in but has done ok.

Midas Investments is a CeFi exchange that I hold some Bitcoin and Ethereum on, in addition to their native token MIDAS.

Yield Farming

  • EMP Money = $47.84 (Detonator = $35.62, Farms = $6.13, Boardroom = $1.72, Autovault = $0.12)

  • The Animal Farm = $20.72 (Piggy Bank = $20.72, Farms = $0.00)

  • DEX Finance = $6.14 (Farms = $3.26, Regulation = $2.88)

  • PancakeSwap = $0.09

  • TOTAL = $74.79 per day

EMP Money is my biggest yield farm and did well in July given it is tied to Ethereum which performed great last month. Most of the daily return here, $35.62, comes from their Detonator feature which is my favorite ROI project in all of DeFi (expect an article on this soon). I'm compounding the earnings back in here on a daily basis and expect this number to continue to climb at a solid rate as long as Ethereum doesn't tank. Most of The Animal Farm has been paused since March so I'm only earning in the section called the Piggy Bank. I expect the earnings in the Piggy Bank to possibly decline over the next few months but hope to make up for that when the farms finally come back on line where I do have a small investment currently producing no income. 

DEX Finance is a Tomb Fork play, similar to EMP Money, but is tied to the USDC stablecoin instead of Ethereum. The nice thing here is I've only invested earnings from EMP Money into the ecosystem which is now worth over $1,000 and growing at a decent clip. PancakeSwap contains just a small amount of CAKE I have staked long-term after earning it mining in the past.

Total Passive Income

  • DeFi and Other Income Streams = $24.75 

  • Yield Farming = $74.79

  • TOTAL = $99.53 per day

The total passive daily income from these sources is $4.15 per hour or $99.53 per day since I make income 24 hours per day unlike a day job which usually only pays for eight hours. This also equates to $36,318 per year, no weekend or holidays off here, which isn't bad for hitting a few buttons. I didn't take a snapshot to start July but I believe the total annualized rate then was around $24K so July was a good month.

My initial goal is to triple my income to around $300 per day or $109,500 per year in the next 9-12 months. This would be really easy if the market returned to its highs which would basically triple my passive income as a result. But I'm not counting on this to happen. The real beauty in this passive income stream is that unlike a "real job" income stream which is dependent on raises to increase, this income stream increases naturally by simply compounding my earnings.

Like all investments, these figures will fluctuate and will still go down in a bad month most likely unless the income produced and compounding offsets the loss in overall capital producing yield. Overall, these investments have significantly outperformed by non-income producing assets like stocks or crypto coin holdings during the bear market.

My biggest struggle with passive income is not getting involved in every "shiny" new DeFi project that comes around. I look at many each week, but only invest in those I feel really comfortable with after researching them pretty in depth. I'm hoping that writing a monthly article on these investments will keep me focused on just a few. In reality, I'm not putting new capital into any of these projects at this point since I can take what has been earned from them and either compound it back in or claim the returns to invest into new projects. Honestly, this is one of the biggest reasons I really want to grow my passive income stream - so I can use this to move into new projects.

So what are your favorite passive income projects? Please share in the comments below.

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