My LP farm update.

As you may know, I was farming Sovryn in the Smarter Bitcoin core DeFi protocol. Still, I decided to make some changes to the way I was investing my money, put into the equation that my article won't be financial advice in any way or form; I am just pretty much telling you what I am doing with my money and what works for me may not work for you.

I decided to remove some of my LP so that I could be holding only Sovryn. That way, I won't have more impermanent losses if the price started to go up, and the initial idea was to continue to remove liquidity if the price against Bitcoin could continue declining from the price I bought in the first place and if it continues going down from the price I started removing liquidity. This strategy would give more Sovryn for the same money I already invested by sacrificing whatever BTC I had left.

LP farming on a downtrend market. My plans for my money.

https://read.cash/@francis105d1/lp-farming-on-a-downtrend-market-my-plans-for-my-money-99d9ed81

But I changed my mind a day after I wrote that article which I will leave the link to it, and decided to go all-in; in my previous article, I called that action a double down, which pretty much means that I bought more Sovryn with my leftover Bitcoin that I had from running my farm. This way, I can hold more Sovryn and no Bitcoin whatsoever. If the price starts to climb to at least the price when I got in, I could get my satoshis back in case the price against Bitcoin went up and not Bitcoin.

I decided to go all in and remove my LP to avoid impermanent losses. Because I think that price has a chance to go up instead of down, but this is a big gamble because if the price goes down to the $20,000 levels, I will screw. Many are calling for that price point. My strategy would work better if the price hits that level, but we don't know if that will happen or not, and at times you have to deal with the deck you are given and play with the cards you already have and make the best of it.

So pretty much the update is that I am totally into Sovryn at this point. I am not collecting any interest payment from farming whatsoever in the hopes that if the price climbs, I can make up whatever income I may lose for not farming, not to mention that at some point, I am thinking to get back into SmartBCH tokens if I see an opportunity, pretty much I am trying to have my money as liquid as possible without having to sell and eat up my lose. And since the whole market came down, I will tell you that I am already losing around 25%, but I am still looking into the future because I know those selling right now will run out of coins to sell, and prices could start turning bullish again.

And I would like to add that I also opened some long positions using Sovryn Dex. For some reason, my positions were not close in the recent dumps. I missed my mark for just satoshis, so my longs will continue to open. I won't close them because the transaction fee is too expensive, so it will be cheaper to let it run, wait, and see if it gets liquidated. At least I won't pay the closing transaction fee. You can also read about longs and shorts because I wrote an article about them.

Long the market with RSK Sovryn Bitcoin DeFi sidechain.

https://read.cash/@francis105d1/long-the-market-with-rsk-sovryn-bitcoin-defi-sidechain-652de829

What I am doing with my LP farm can be done with any other DeFi protocol because they all work the same. I will end this by saying that if you don't own any cryptocurrency or your portfolio is more than 60% in cash, you should be looking into buying your preferred token or altcoin because you never know what the market will do next and getting some assets at the current price could be the best decision if the price goes up from here and as always practice risk management as you see fit, and do what is best for your wallet.

And Bitcoin is now going to zero, so you better sell to the rich millionaire pumping the FuD media articles.