Introducing LongLong.Finance!

Diversify your principal and yield into different assets with LongLong

Yield farming has been sweet and sound. Even with the most conservative strategy, farming with stable coins, we still have tens or even hundreds of percent of annualized returns. But as we approach the one-year mark of the yield farming era, when we compare the yields with our beloved ultra-sound money ETH, some of our fellow farmers might be envious of the pure Hodlers.

At LongLong, we consider stable farmers and token hodlers as two sides of a spectrum and aim to smooth the line between them. For users, we provide a less risky way to invest/hodl their favorite assets, without the need to keep an eye on the assets. For protocols, we aim to provide them a new way of attracting long-term hodlers of their assets.

With Risk-free Long vault, you deposit stable coins like USDC, DAI into the vault and choose the asset you are bullish about while making the deposit. We invest stable coins into the best opportunities in the market powered by Yearn!

However, instead of reinvesting the profit with the same asset, the Long vault will keep buying in your favourite asset, for example, ETH, BTC.

Since the Long vault continuously buys the asset, the short term volatility would be neutralized. This strategy has been known as dollar-cost averaging (DCA). Moreover, when the Long vault “longs” an asset, it doesn’t only buy the asset. The longed asset will be put into a self-compounding vault to earn extra profit for you, thus maximising capital efficiency.

Contrary to the normal buy & hold strategy, only the profit from the yield farming is converted to the longed asset. This means you can always fully redeem the stable coins you deposited no matter the is going up or down.

What does this mean for your yield? As a simple example, let’s relive the past year and make some assumptions. If the USD based yield is 12.75% and ETH based yield is 5.08% and we have been converting all our USD yield to the one ultra-sound money ETH that we have believed in all along:

(At the time of writing, Yearn’s crvUSDN vaultAPY is 12.75%, crvSTETH vault APY is 5.08%)

Our fiat 12.75% yield has become ~40% ultra-sound yield by the end of the year, and with the self-compounding on your ETH, you gain an extra 1.35% yield.

Could the farmers be doing this by themselves? Absolutely, but because of the gas price, DCA becomes extremely costly, and farmers often need to accumulate their yield so that it is possible to convert them without the gas price taking away most of their profits.

Using our Risk-free Long Vault, farmers are now free from short-term volatility, and as long as the asset of your choice is ultra-sound in the long-term, then your yields become ultra-sound too!

Apart from holding stable coins, there is also another common scenario in yield farming: You hold a token, which can be WETH, WBTC, or governance tokens, and you want to take profit from it from time to time. However, gas price on mainnet is expensive and it often does not make sense for smaller farmers to take profit. The lack of tools to help us taking profits often leave farmers a binary choice: either we continue to Hodl or we had to wait until we accumulate a meaningful amount of the token to realize the profit.

Our Hodl & Feed Vault helps users to Hodl the exact amount of token they have deposited, but take profits as stable coins on the yields. This provides a tool for long-term Hodlers to Hodl an asset while enjoying the sweet yield from stable coins.

The code is NOT forked. We have developed this product for months and finally, it had become mature enough to announce its beta launch.

The product currently makes use of Yearn’s superpower to compound your yields, when there are enough yields to be converted into the desired (“longed”) asset, we will collect the profit, process the conversion, and invest the newly converted asset into an opportunity for you to maximise capital efficiency.

The vault is designed to be versatile, it can invest into multiple investment vehicles at the same time to deploy capital into different opportunities. The Investment Vehicle can also pool funds from multiple vaults and maximise gas efficiency when deploying capital into an opportunity.

Note that the code is not audited, while we have tested it at best as we could, please use it at your own risk.

For more details, please check out our GitHub and Documentation.

The name LongLong comes from the idea of “Long Crypto, Long Family”.

At LongLong, we believe that providing tooling to invest and Hodl in a less risky way helps farmers to tap into riskier assets and remain sane when the market is volatile. Attention is an ultimate human resource that we wish to help preserve, thus we will be making more products that are in line with the set-it-and-forget-it philosophy. Happier farmers, happier families.

For protocols, these products facilitate the on-boarding of new long-term hodlers of a protocol and also help protocols to retain existing hodlers. We believe the more long-term token hodlers, the healthier it is for the community and the ecosystem.

In the beginning, we will launch with the following vaults:

But these are just a start. We will be pushing out more vaults with different assets, more products that help our fellow farmers and their families.

Long Crypto, Long Family. Long the Crypto Family.

Cheers, our crypto frens 🍷

Please join our community and become part of our crypto family.

We long to have your thoughtful discussion there!

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