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Ampleforth Aftermaths - The $FORTH and jeDAI Balance
Was a cloudy night in April when a strange meteorological phenomenon happened in Ampleforth Village! Was raining money ... and the airdrop was a gift for loyal supporters and holders of AMPL. The $FORTH toke will be used in governance and will run the ecosystem by allowing the holders to vote on changes to the core AMPL protocol and evolution.
Everyone who interacted on-chain with $AMPL is eligible for the $FORTH airdrop. You should check the claim link on the AMPL website to see if you got your share! The deadline is on the 16th of April 2022 and after that any unclaimed $FORTH will be placed into a community governed DAO. Many of my friends had no clue about the airdrop and all were doubtful about the real value of the airdrop... until they claim it!
After I pressed the "Claim" button I still couldn't believe the magnitude of the airdrop! Added the numbers in my head and 151 FORTH were valued over $8000. Happly paid $30 ETH fee to claim it and another $29 to send them all to Coinbase.
Was 3AM and waiting for the FORTH to reach Coinbase felt like an eternity. I checked the transaction many time, being afraid I added the address wrong, or that something bad happened. After 10 minutes that felt like 100 years, the FORTH reached the wallet.
In those 10 minutes, the price went from $54 to $57 and I decided to cash out. I swapped all into DAI and went to sleep, giving time until morning to decide what to do with the bounty. I had to sleep and dream about the best option for $8700.
I woke up and made a quick market analysis and found absolutely no coin worth to buy as the prices were pumped up beyond any investment opportunity. Meanwhile, I earned 1 DAI from the 2% APY offered on Coinbase for DAI holders. In that moment I had a revelation .. why earn 2% when I could earn 10%? "Earning more must we!" I said loudly using Master Yoda voice!
I sent all the DAI to Celsius Network where the APY for DAI is 10% and let it work in there, without worrying about bear runs, market correction or dips. The weekly DAI reward is close to $16.25, resulting over $61 per month. However, the reward is paid in $CEL, one of my long term investments! I am confident that $CEL will grow at the same rate as Celsius Network.
Thinking about what happened in May, when my portfolio went down by 65% at one point, I am happy about the decision I took. A steady source of income is much better than stressing about market volatility.