Phase 1 Battle of Yields Recap

Battle of Yields, organized by AshSwap has officially ended phase 1 and brought many great experiences for participants. The Battle has provided additional knowledge and created many opportunities for users to put that knowledge to practice in a competitive environment like reality.

We want to extend a big thank you to the AshSwap community and everyone who joined BoY and gave us valuable feedback so we can improve our product better.

Battle of Yields Summary

• 11.400 register
• 2-week duration, $10k prize pool
• 22,693 transaction, 10,688,227 ASH reward distribution, $137,510 LP governance reward distribution
• 11 patches updated
• 3 Battle of Yields winners, 50 consolation prize winners
• Lots of helpful feedback and suggestions

AMA x Top 3 Battle of Yields

To answer all the questions about why they won, we held an AMA with the top 3 Battle of Yields to answer questions from the community and share the strategies they used to win the contest.

Question 1: After claim reward.Your reward stake on Liquidity Stake or Governance Stake?

Answer:

1. Billythekid945 (Top 1 BoY): I tried to invest during the whole competition in governance with a balance of 70% liquidity stake 30% governance ratio.
2. Kammlip (Top 2 BoY): Mainly, I swapped ASH -> USDT, added LP and then staked them.
3. Oov (Top 3 BoY): I have decided to exchange Ash for stables at the start of the competition. However, if the majority did that and the boosted pools were not constantly active then that decision would be wrong (Just to clarify for the future BoY)

Question 2: Was the strategy preconceived? How often did you move funds from pool to pool?

Answer:

1. Billythekid945: I had some strategy determined. I mainly tried to study what swaps could be done and what would be the most clever ones depending on the situations to limit the fees. I did not move my funds too much between 2 boosts. However, I was always going out of a pool around 1h before the end of the boost to avoid losing money when the coin prices decrease due to the selling of the coin.
2. Kammlip: Strategy was dynamic. For me key moments were second faucet and APR boosts.
3. Oov: Yes, I have developed the strategy before the competition began and stuck to it. The main key points that were taken into consideration are:

• We have unlimited EGLD that do not count towards the competition score (keep re-staking constantly even if it is not viable in real life conditions).
• Determine whether the exchange fees were lower than re-staking to boosted pools (they were) and therefor constantly re-stake.

Question 3: Was ASH exchanged or staked? Were the funds withdrawn from the pool in advance and exchanged before the yield change? What did you do when there was a high yield in the Bitcoin pool? Did you deposit funds there or left them in stablecoins?

Answer:

1. Billythekid945: I staked the 10K Ash in the Governance pool since the beginning of the competition. Then I always tried to maintain a 70–30 ratio with 70% of Ash being swapped and 30 % being added to governance. I did get out of the pools around 1h before the yield changes (not only for Bitcoin). Dealing with Bitcoin, I entered every single pool when a boost was added. Note about this: the 500% APR boost made me hesitated, I only entered because Bitcoin is not a stable coin and I thought a lot of people would enter without thinking too much and thus make the price increase. It was a bet and I got lucky. If the price had stayed the same, this pool wouldn’t have been interesting.
2. Kammlip: At the beginning I staked ASH (Governance) and after unlock I swapped ASH -> USDT. Before APR boosts I removed my pools and waited for new boost.
3. Oov: The plan was to exchange Ash for stables at the start of the competition. However, if the majority did that and the boosted pools were not constantly active, that decision would be wrong. Every time the boosted pool got activated, the liquidity was moved into that pool, including BTC.

Question 4: What is the best gaining strategy with Ashswap in your opinion?

Answer:

1. Billythekid945: I am not sure that this is the best gaining strategy, however I would recommend making the maths each time to decide whether a pool is interesting taking APR and fees into account. Note that here the fees were huge, and this won’t be realistic in the real project. Also despite staking at all time could be interesting, I saw some people swapping from wBTC to wUSDC and NOT entering the USDC/wUSDC pool that was having a 2000% APR boost. These people made a lot of profit simply because the natural swap was wBTC to USDC meaning that there was less and less wUSDC and since these people did not enter a pool, they were not facing any IL. Very clever
2. Kammlip: Find best APR. Harvest, reinvest. Watch coins prices.
3. Oov: Follow the boosted pools, restake constantly, watch the price of BTC and then make the right decision about Ash Gov and Stable pools. That decision is only right if everyone else is wrong haha, so pretty much gotta guess it right

Question 5: What was your worst Rank in BoY

Answer:

1. Billythekid945: I am not sure anymore but I would say around 800 something like this
2. Kammlip: Last which I remember something about #60
3. Oov: I have started in 1000s and then slowly started to move up by following the strategy

Question 6: What do you think is the key of your success?

Answer:

1. Billythekid945: Being early for yields changes, and harvesting regularly, thinking long term
2. Kammlip: 2nd faucet, boosted APRs, reinvest
3. Oov: But in all seriousness, I can see what Billy, Kammlip and I said and its literally what you need to do to win. If everyone will do it, it will come to some very small deviations in strategy that will get you the first place, preparing the strategy and then following it day after day until the end.

Question 7: Can you explain to us with one sentence why should we use Ashswap?

Answer:

1. Billythekid945: I would say for several reasons: first we do not currently have anything like this on Elrond so we should support it. Second, the team is incredibly engaged and the product is of high quality. 3rd, if you had a look at the last screenshots posted, they are adding a lot of cool features that I have never seen in DeFi so far. Despite I am not a great specialist of DeFi, I am still very interesting to see the direction the team is going to take. I am sorry this was not one sentence.
2. Kammlip: You can earn passive income from your assets
3. Oov: If I am not mistaken Ash swap is the fork of one of the top projects on the ERC20 network with improvements on top. If that comes true, then Ash and everyone invested will be going to the moon.

Question 8: How do you think about this BoY? Will you join AshSwap’s next Battle of Yields?

Answer:

1. Billythekid945: Sure ! Retiring after a victory is not my thing, I like challenges
2. Kammlip: Nice DeFi experience with not my funds. Yes, with pleasure. I’m waiting
3. Oov: Of course, but now that you all know what got us to win, it will be much much tougher! So good luck everyone!

AshSwap’s plans to implement in the future

• Yields Boost
• Mainnet Launch
• TGE (Token Generation Event)
• AOC Minting
• Token Farming