May 2022

Covid hasn’t gone away, but its impact is now reserved to supply chain issues from enthusiastic lockdowns. In countries that have decided to live with Covid its effect on society is limited as immunity levels are high in the community.

The Ukraine war has taken a pivot. Russia has pulled out of the North and is redirecting all its efforts to the East. They are also blockading the ports to the South which is limiting the exports of grain and other goods. This is going to produce a worldwide food shortage the likes of which we haven’t experienced.

The biggest story for my investments though is the total collapse of the Terra ecosystem within crypto. I had 200 LUNA tokens locked and staked that at one point had been worth just over $100 each. Over the course of 24 hours they became completely worthless. I also had some UST tokens that were the bulk of my yield rewards. The LUNA I could do nothing about as my tokens were locked. The UST I was able to exit at a discount as the UST de-pegged from the USD. The result… The LUNA were not earning much income so the biggest effect is the loss of capital. The UST I have withdrawn and redeployed. It will reduce my yield earnings going forward but at least I was able to salvage something.

One of the positives from redeploying my UST is that I now have joined the 1Bitcoin club 🎉. Next on my hit list is to build up my Ethereum holdings which currently sit at around 4.3 ETH

What else is new? I have discovered BullRide which is an Electric Scooter leaseback company. I have bought a scooter on the secondary market and it has started to bring in an income, deployed in Norway.

On with the investment detail…

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Investments

ElfinMarket. My rock of an investment gets its normal monthly allocation. Invested £1000

BullRide. This is my new experiment this month. I have bought an Electric scooter which has joined a fleet of scooters in Norway. I have leased it to a company that hires them out in the cities. I get a daily share of the fleets revenue. It’s a 3 year lease that should bring in 2-3 times my initial outlay. It’s a similar model to The Sun Exchange but on a shorter timescale. Invested £978

Staking and Yield Farming. Luckily I decided to move some UST from Anchor at the beginning of the month over to Yield Nodes. I wish I had moved it all but hindsight is wonderful. In total I moved £2013. The money I put into Aperture finance for the delta neutral strategy I was able to withdraw and sell the UST at a discount. It got transferred over to BTC which I placed on NEXO. Mostly I have spent the month licking my wounds and so no new money has gone into Staking and Yield farming. Invested £0

Free Trade. Doubling down on my Ferrexpo investment I have increased my holding yet again. They seem to be surviving the Ukraine war, and so I am hopeful for the future. I have also decided to sell my remaining shares in my General account and transfer the money over to the ISA account. I see no reason to earn any dividend income that would need to be taxed. The sale only went through at the end of the month so the funds wont be cleared for transferring until next month. Invested £500

Total Invested £2478

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Monthly Income

Despite my disastrous loss of capital in the LUNA ecosystem and my withdrawal from UST income on Anchor and Aperture finance, my income has significantly broken above the £2000 mark. I’m expecting a dip next month as the income from JuicyFields will be significantly lower, but this should be partially offset by an increase from YieldNodes and the start of income generation from BullRide.

On with the detail…

TheSunExchange. As we move into the winter months in South Africa there is always a bit less sunshine . Income £37

BullRide. My scooter was bought on the secondary market so revenue started the very next day. I managed 9 days of revenue which so far indicates I should at least get my return on investment back. With regards to making a profit I will need some more data. Income £12

CrowdProperty This months income is again on the modest side as only a few loans are paid back. None of them have defaulted but they are taking their time to complete. Income £13

ElfinMarket Income for this month breached the £100 for the first time. It has moved into the realms of a significant investment psychologically. Income £103

Euro P2P lending is fairly static as expected. I am still a number of months away from exiting the platforms with the long term loans. Income £11

Crypto lending across NEXO, Celsius, and Luno has taken a significant hit. There has been a massive sell off in the crypto world following the LUNA collapse. It has now stabilised but has hit my income significantly. Income £184

YieldFarming and Staking has been the most troublesome of my investments. It has the potential to be a massive income stream but is fraught with risks. I lost my income stream from LUNA, UST on Anchor and UST on Aperture finance all within 24 hrs. I was able to rescue the UST and redeploy it, but for now the LUNA is worthless. On the plus side my confidence in YieldNodes has increased significantly and I have increased my investment there. It is now responsible for all my staking income. Income £347

JuicyFields is the investment that just keeps giving. The company is going from strength to strength and transparency is now really good. This month had 5 harvests so had an extra income from a large week. Next month will be a month without the boost and should be about £500 less. Income £1508

FreeTrade has had a strong month, up 85% on the same time last year. There should be a continued strong run through to the Autumn. I am on the search for a companion to Iron Mountain which is a solitary earner in October. I think I have found a green energy company with dividends at the appropriate intervals. My aim is to get my dividends over the psychological hurdle of £100 per month by the end of the year. Income £78

Total Passive Income £2299

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Despite such a disastrous loss of capital in the LUNA ecosystem, my income was only minimally hit. In fact this month turned out to be my best month yet, breaking strongly above the £2000 mark. I’m not sure if that is sustainable next month but I am well on course for my yearly target of being above £2000 on a monthly basis by November.