NOTE: All point efficiency figures are pre-multiplier from BLUR leaderboard positions. Point efficiency only takes into account points earned on Blend.
As of 3PM UTC 2023/06/21
A few other good farmers (~10 of you) out there. You know who you are.
BLUR Lending Point comparison tool
In order to compare point farming strategy efficiencies across wallets, SPICE uses the following metrics:
- Efficiency - pre-leaderboard multiplier points earned per ETH per 24-hours
- Avg. Multiplier - a time-weighted 24-hour average leaderboard multiplier
- Lending Pts. Earned - efficiency * avg multiplier * TVL
- TVL - a 24-hour average of a user's total ETH, NFT portfolio, and loan portfolio in ETH terms
Note: Figures are exclusive of the SP-BLUR vault's performance fees.
Current market estimates range between $1 USDC to $3 USDC per BLUR point earned.
BLUR point sensitivity
Blur Point Valuation.xlsx
Maximum Bid LTVs are based off volatility modeling & default probabilities
Users can withdraw their ETH early, without forfeiting any BLUR points earned. Any ETH yield earned can also be withdrawn early.
Once a user has withdrawn their entire ETH position, they will no longer earn any more SP-BLUR points. They can however, lose SP-BLUR points if a penalty is applied to the SP-BLUR vault for liquidating loans. This is highly unlikely as BLUR point penalties are incredibly costly and accounted for in the strategy.
BLUR calculates loan growth using the following formula:
is not equivalent to APY and gets converted accordingly using the following formula on SPICE's UI.
Fees are currently set to a 0% management (principal) fee and a 20% performance fee (20% of yield and points earned).
- BLUR has yet to allow for public integration with APIs. This means much of the lending functions are built using an off-chain frontend integration. BLUR has communicated public access APIs by the end of Season 2, at which point the SP-BLUR integration will be updated accordingly.
- Despite SPICE's track record of long-term profitable strategies, yield and BLUR points earned are not risk-free.
- BLUR has not integrated non-EOA wallets yet. There exists a temporary centralization vector in the SP-BLUR vault used for lending. BLUR team AMAs have indicated a future where non-EOA wallets may be integrated, however, for the time being they are not.