yield farming research
Joined September 2024
- Tweets5.8K
- Following1.7K
- Followers1.7K
- Likes71.9K
watanabe retweeted
THE ULTIMATE GUIDE TO @HYPERLIQUIDX YOU DIDN'T ASK FOR BY @HYPURR_CO x @KIRBYONGEO 🐱 EDITION 2
Before we start, RT, Like & Bookmark this post!
With <4 weeks left before the end of points season 2 on @HyperliquidX you don't wanna miss this out.
PS: The alpha for points is in the spot markets
ACTIONABLES
• Sign up on Hyperliquid: app.hyperliquid.xyz/join/BIN…
Hyperliquid Chain
• Hyperliquid's vision is to develop an on-chain open financial system. At the core of this ecosystem is the Hyperliquid L1.
• Every interaction—be it an order, a cancellation or a liquidation is executed on-chain.
• Hyperliquid is planning to adopt HyperBFT and launch HyperEVM by EOY, with testnet + testnet validators live.
Bridges
• Official Bridge to Hyperliquid occurs through Arbitrum. Hyperliquid operates a native bridge, secured by the same validator set as the Hyperliquid L1.
• Other Bridges: @HybridgeHL (Cross-Chain, Any Tokens, EVM + Sol to Hyperliquid)
Information About HL Spot Token Launch
• app.hyperliquid.xyz/deploySp…
- The gas paid for deploying a spot token is determined by a Dutch auction once every 31 hours.
- At any point, a deployer may pay the current gas price to deploy a token, after which there can be no more deploys for the remainder of the auction period.
- Gas is deducted from the deployer's perps account balance.
X accounts to follow
• @HyperliquidX (Official)
• @KingJulianIAm (Team, BD)
• @hypurr (Intern)
• @chameleon_jeff (Founder)
• @iliensinc (Founder)
• @laurentzeimes (Top points holder, building @Hypurrfun )
• Us! @hypurr_co
Hyperliquid Ecosystem Guide:
Overall Ecosystem Map
• east-opal-e86.notion.site/74…
Communities:
• @Hypurr_co your one stop for all Hyperliquid resources
• Hypurr's friends by @0xPasteke discord.gg/38Hkd7QFpV
• t.me/hyperliquid_announcemen… (TG Ann)
• t.me/+SJRiO42rufBmODBk (HypurrFun Chat)
• discord.gg/YzeQk8GD (Official Discord)
Defi & Bridges
• @rage_trade (Perp Aggr) @Crypto_Noodles
• @okto_web3 (Wallet App)
• @ambitfinance @ambitmoney (Lending protocol, decentralised stablecoin)
• @TheoNetwork_ by @Abhiii53 (Native Prime Brokerage)
• @HybridgeHL (Cross-Chain, Any Tokens, EVM + Sol to Hyperliquid)
• @HyperlendX by @0xNessus
• @HarmonixFi by @Frank_Harmonix
• @Felixcredit HL Native CDP Stablecoin Protocol, friendly licensed fork of @LiquityProtocol V2
• @ThunderheadLabs with SportPurrps (Similar to Rollbot/GMX feature)
• @Pvp_dot_trade social trading, live on TG
• @fractality_fi
• @TimeswapLabs
Trading/sniper bots
• t.me/HypurrFunBot?start=ref_… (HL sniper bot, by Loracle) @HypurrFunHL
• HypurrPump (Pump.Fun on HL): t.me/+GRIwAPnAUBk4ODE0
• @Panda_On_HL Crowdfunding Bot
• @wagmi_tradingbot (Trading Bot)
• @Hypervisor_hl
• @Insilicotrading by @ThinkingUSD (Professional trading terminal)
Wata's weekly yield update:
PT-reUSD-25JUN2026 / USDC on Morpho Mainnet: 62.6% APY
PT-USDai-18JUN2026 / USDC on Morpho Arbitrium: 25.9% APY
syzUSD / USDC on Morpho Monad: 23.33% APY
PT-USDat-27AUG2026 / USDC on Morpho Mainnet: 21.02% APY
YZM / USDC on Morpho Monad: 22.58% APY
yzPrime / USDC on Euler Monad: 21.65%
Polymarket:
Greece x Turkey military engagement by June 30? - 33.5% APY
NATO x Russia military clash by June 30, 2026? - 32.1% APY
Will the US confirm that aliens exist by June 30? - 23.6% APY
Nicolás Maduro released from custody by December 31, 2026? - 19.4% APY
More farms and live tracking are available on my website :)
Few days into farming @phygitals 3/4 top items listed by Fair Market Value belong to me 🥰 DM if interested
New points farm alert: @phygitals
Physical TCG marketplaces have risen in popularity in recent months and I believe they have a found a PMF with a low friction gambling on collectibles that have a more sustainable value proposition than NFTs.
Their main product are gacha packs, which you can purchase between 25-5000 usd, with different EV+ estimates and buyback ratios. The estimates are likely inflated, you have to account for the trading fees or just the assume the 90% buyback Phygitals offers on most packs will be the real value you get out of it.
Personally I like the the Mythic Pokemon pack, I spent ~70k on it with the value of my cards estimated at ~95k. I believe some of my grails are undervalued by their engine, but if I sold everything to their buyback I would get 82k right away. I expect this pack to be EV-, however if your cost isn't too high (or you get lucky like me lol) it could justify spending money on this in hopes of an airdrop. The 3x larger competitor @Collector_Crypt is valued at 350M, turning over 3M would put you in the top 10 of users and unlike most crypto apps the gacha marketplace earn real revenues, so unless the interest in collectibles dies down it could become a sustainable business.
Wata's weekly yield update:
- PT-reUSD-25JUN2026/USDC on Mainnet Morpho: 55% APY (@re)
- syzUSD/USDC on Monad Morpho: 31.13% APY (@YuzuMoneyX)
- PT-USDai-18JUN2026/USDC on Arbitrium Morpho: 30.15% APY (@USDai_Official)
- sUSDai/USDC on Base Fluid: 23.55% APY (@USDai_Official)
- YZM/USDC on Monad Morpho: 27.93% APY (@YuzuMoneyX)
- yzPrime/USDC on Monad Euler: 21.59% APY (@YuzuMoneyX)
- eEarn/USDC on Suilend: 34%APY (@EmberProtocol)
For more farming ideas check my website in the bio :)
The next billion-dollar market is $MELI on @novadotmarkets. Support it now and get a lifetime revenue share from the fees! app.nova.markets/thesis/162
May farming update:
- yield landscape has generally improved, at least when I'm not getting utilization squeezed (50% of the time 😭). here is what I added to my website:
- sUSDat/AUSD loop - ~30% APY at 90% utilization, pretty risky bet on STRC performance, but you can always reduce the leverage during higher volatility periods and I like Saturn points. redemption sucks, will have to get out in the market
- PT-USDG loops - the best one is on @lista_dao, but you have to hedge both USDT and USDG volatility, which takes away from the APY, but you can afford it, since the average is around 35%
- PT-reUSD loops - reUSD is low pretty risk, pendle yield is ~2.5% higher, USDC loop averages lower than USDT, but that's what the PT redeems into. 8-40% looped APR depending on the day and market
- sUSDai Fluid loop - got out of it as the discount to backing got smaller during the redemption window, will be reentering if it gets discounted again. 20% APY + points at the moment, usually it comes down when sUSDai gets cheap. worth keeping in mind that not all staked tokens could be redeemed, as most of the backing is deployed into loans
- added more polybonds, the most interesting ones are related to Powell leaving as Fed Chair, remaining on the Board, Russia/Ukraine ceasefire (Eurocell alpha), Netanyahu staying on for the next 2 months and farming the speculative premium on alien markets. most of these average higher than DeFi farms, have lower risk, allow for more diversification and you're farming the last good airdrop. you can track the live APYs on my website
- followed @TaikiMaeda2 into his BTC trade, his paid discord is only ~100 usd / month, pretty amazing value to get all of his research + private videos + access to more smart people to exchange ideas with. also allowed me to get in early into @saturn_credit
Added some new yield opportunities to my personal website, watanabe.capital. Most interesting ones:
- aHyper/USDC on Morpho, 23.92% net APR. Tradfi/crypto equities arbitrage vault, @AccountableData points could be underrated imo
- wsrUSD/USD1 on Morpho, 25.51% net APR. Backed by low risk stablecoin vaults, good way to source USD1 for other farms
- earnAUSD/USDC on Morpho, 26.48% net APR. Slightly less risky than the Curvance market, yield comes from lending on Monad markets and Merkl incentives
- eEARN/USDC on @suilendprotocol, 34% net APR. eEARN is a low risk DeFi yield fund managed by @EmberProtocol, supply APR comes from a private deal
- if you like BTC, you can get up to 14.6% APR looping mHyperBTC on Morpho
March farming update:
- made a little website (watanabe.capital), to track yields like:
- syzUSD loops from @YuzuMoney
- earnAUSD loop on @Curvance
- ezETH loop on @Curvance + hedge on @aave
- sUSDai depegs
- yzPP depegs
- QFEX-HL funding arbitrage
- Polymarket bond-like returns
- spread trades like long HYPE/ETHFI/BNB vs ETH/SUI (wip)
- besides whats on the website I've been looking at @re loops on Fluid
- currently working on automating trading on QFEX+Polymarket
- yields very dry
Rank 1 in points on @01Exchange this week!
- 3m volume, mostly BTC/ETH/SOL, with longterm funding rate positions on alts
- good opportunities to hedge on @variational_io, 1k earned in funding on 70k collateral
- 51,363 pts, 60 usd volume per point according to their discord
(Dry) February yields update:
- USD1 presidencial loop (9.15% APY, 5.8% borrow), USD1 borrowed and bought at a discount
- PT-sUSDe @lista_dao loop (5.12% APY, 2.2% borrow)
- @YuzuMoneyX on @Curvance (11% APY, 5.5% borrow)
- earnAUSD on @Curvance (11.2% APY, 9% borrow), scaling out
- USDC @tydrohq, Ink points imply 25% APY at 2.5b valuation
- @Neverland_Money, complex reward claim process, but ends up with 25-30% real APY
- @01Exchange points season launched today, will be hedging on @variational_io. use @terminaltrading for 01
- open interest / funding arbitrage: @extendedapp + @variational_io
- open interest / funding arbitrage: @QFEX + @tradexyz
- PT-sUSDai, PT-USDai loops waiting to close
You can follow some of the activity here:
debank.com/bundles/221034/ac…
Some early stage points I'm farming:
- @01Exchange - just got the early invite, I don't see how it differentiates itself yet, but the daily volumes are sub 10M
- @QFEX - equity perps CEX, just raised at 100M, waitlist only, prepoints and sub 100k volumes on most pairs. hard to tell if it gains traction, but if it does, it could be the most interesting one
- @Dreamcash - highest effort attempt at a mobile trading up for Hyperliquid, @SeliniCapital put up a money for the HIP3 stake and is market making tradfi markets, good UI with multiple options for non-crypto deposits . downside: slightly overfarmed, 43M volume on proprietary markets vs 3M OI
- @opinionlabsxyz - haven't tried it yet, but it looks like a good way to hedge @Polymarket bets while earning points for the low effort BNB clone backed by CZ
Feel free to DM for invites
January yield farming update:
- @Curvance earnAUSD/AUSD loop - biggest position, earning 15% APY, looping at 10.6%
- @Neverland_Money - earnAUSD (13.78% APY), loANZD (18.42% APY) deposits, looping at 7%
- @USDai_Official PT loops on @Morpho (arbitrium) - sUSDai (12.5% current APY, loop at 9%), USDai (7.8% current APY, loop at 3%). both purchased slightly higher
- @variational_io + @extendedapp low volume pair open interest, earning >100% APR based on OTC prices (probably much lower real), currently profitable in real yield after a couple days of funding
- @Polymarket hedged interest rate bets, no yield, farming volume + pnls for the token
Under consideration:
- @ryskfinance ETH cash secured puts + delta hedge
- @tread_fi - @tradexyz grid bots, testing profitability
- @3janexyz caps raised recently, my LP has been earning >22% APY + jane tokens since November
- hedging USD currency risk with gold/euro
Counted my money for the first time in 2026:
- 1m AUM, up from 30k in dec 23 and 250k at the peak of 24
- portfolio peaked at illiquid valuation of 2M, mainly due to high lighter points valuation (1.25M airdrop expected, ~600k realized)
- second biggest loss came from mismanaging my HYPE exit - I only sold 40% in the 50s, for BTC instead of USD
- for first time I have a liquid 1m USD, I'd say I'm more bitter than proud, considering all the opportunities that were available in 25, however I always knew once I decide to go to stables it would likely below the peak valuation of my portfolio
- currently 75% delta neutral, 25% long $lit