Time is running fast and we got already end of October. October 28th to be precise. Time for another close look at our (or at least mine) favorite Defi ecosystem: Furio. I collected already a month worth of data, so lets see how things developed during that time.
First thing standing out for me was the $FUR token price: It decreased by 4 cents. This isn’t a lot of course, but looking back a month, it decreased by 7 cents. Nothing of concern to me (yet), but of course something to watch out for going forward. If you compare this to the current overall crypto market, then I would have expected an increase in value. Bitcoin as example increased from 19’200 to currently 20’500 USD. Would have loved to see a similar development of the $FUR token to be quite honest.
On the other side the Furvault keeps on growing constantly. This week we saw another increase of more then 900 new joiners. Another jump of more then 10% again. Look at the number by end of September (6’351) to today (9’827); the vault grew by more then 50%. This is a huge success for Furio. Weekly deposits increased by 9.2%. This is a smaller increase compared to the new joiners. This means smaller deposits were made by these 900 new joiners or existing users compounded more instead of having increased their investment. The compounds value increased by almost a million, compared to last week where it was 847’000. This supports the assumption that participants compounded more often.
The transactions, producing taxes, increased by the same percentage number as last week, by 12.4%. Although value-wise it increased to 14.6%, meaning higher valued transaction were processed and taxed.
Another week, another significant increase in the Furpool. This week we saw an increase of new money by 28%. This is an increase of more then a quarter. 76 new investors joined the pool. Either they brought in more money then the average investors before, or existing investors increased their deposits to Furpool quite a bit. On the other side we see the LP token price having lost 50% of its value by the time of writing. It is currently priced at 2.37 USD. It used to sit at a stable level of around 4.74 USD. Anyone got further details on the driver here out of interest?
Update October 29th: As per feedback from various readers, many thanks, there seems to be a bug in the Pancakeswap-Pool UI, hence a wrong price is (still) shown. The price of the LP token is around 4.74 USD.
Update October 31st: The LP price shows again 4.74 USD.
Last but not least, lets review the numbers around Furbot. Another batch of 208 NFTs were sold this week, increasing the total amount of sold NFT’s to 1’407 overall. The total available supply is still 5’000.
The performance of the bot itself isn’t really improving yet, despite the markets being on the rise (temporarily at least). The absolute profit figure sits currently at -13.29%. From the initially deposited amount of 500’000 USD, the current balance got reduced to about 433’529 USD. You see the performance chart below.
I repeat my statement from last week: I hope to see the performance of the bot getting tuned and improved. With that the number of sold NFT’s would for sure increase. And it would help the LMS (Liquidity Management System) too, as 20% of the Furpool capital is used in the closed pool for Furbot. Looking forward to next weeks number already.
I guess with that we conclude as we covered pretty much everything for the week. Many thanks for your time reading the article and have a great weekend.
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