It hasn't been a fun process being a liquidity provider right now over on the BlackHole DEX on Avalanche. Despite the AVAX pump today I'm still down $168.39 or 21.94% loss. I sort of stuck with this pool because I figured the mining token BLACK would long tail and then have a rebound as they added more pairings. The market has been sluggish and this just once again shows how for a DEX you almost have to have all the pairs with the mining token and drive other demand to the mining token as well. You can't pay rewards to these random other parings that have nothing to do with the token unfortunately. They do it to attract people to the platform but it puts too much sell pressure on it.
For now I'm going to stick with it because I could easily see Avalanche pumping to $40 or $50 pretty quick and that will likely pull up BLACK as well and make the returns look juicier driving more demand. I thought about rotating to some of the other pools that are USDC paired with various memecoins but I think for right now I would rather bring in additional funds and add on top of what I already have going there.
Some of the returns look juicy AF.
https://blackhole.xyz/liquidity
DOGE being tokenized on Avalanche has sort of happened under the radar. Tomorrow there is supposedly a DOGE ETF being launched. It doesn't seem to be fully confirmed though.
