Exercise 6: Cross-Protocol Analysis and Selection

⏰ Time Investment: 60 minutes 🎯 Goal: Compare protocols and build a multi-protocol strategy

📚 Required Reading Integration 📖 Primary: Lesson 6: Multi-Protocol Strategy Development 📖 Supporting: Lessons 4-5 (position setup and V3)

🔍 Phase 1: Protocol Comparison (20 minutes)

Multi-Protocol Portfolio Allocation

Protocol Comparison Matrix

Protocol Feature Matrix

Exercise 1: Compare protocols for ETH/USDC pair

Feature	Uniswap V3	Aerodrome	Raydium	Orca	Meteora
Chain	_____	_____	_____	_____	_____
Fee Rate	_____%	_____%	_____%	_____%	_____%
Capital Efficiency	_____	_____	_____	_____	_____
Complexity	_____	_____	_____	_____	_____
Best Use Case	_____	_____	_____	_____	_____

Protocol Selection Exercise

Scenario: You want to provide ETH/USDC liquidity

Option A: Uniswap V3 (Arbitrum)

• TVL: $50M

• Daily Volume: $10M

• Fee Rate: 0.05%

• Gas: $0.50 per transaction

Option B: Aerodrome (Base)

• TVL: $5M

• Daily Volume: $2M

• Fee Rate: 0.05%

• Emissions: 500 AERO/week to pool

• Gas: $0.30 per transaction

Analysis:

Option A:

• Your share (if $10k): _____%

• Daily fees: $_____

• Monthly fees: $_____

• Gas costs: $_____

• Net monthly: $_____

Option B:

• Your share (if $10k): _____%

• Daily fees: $_____

• Weekly emissions: _____ AERO = $_____

• Monthly total: $_____

• Gas costs: $_____

• Net monthly: $_____

Which is better? Option _____ Why? _________________________________

📊 Phase 2: Multi-Protocol Strategy Design (20 minutes)

Portfolio Allocation Framework

Your Capital: $50,000

Allocation Strategy:

Chain Distribution:

• Ethereum/L2s: $_____ (_____%)

• Base: $_____ (_____%)

• Solana: $_____ (_____%)

• Reserve: $_____ (_____%)

Protocol Distribution (within each chain):

• Uniswap V3: $_____ (_____%)

• Aerodrome: $_____ (_____%)

• Raydium: $_____ (_____%)

• Other: $_____ (_____%)

Pair Distribution:

• Stablecoins: $_____ (_____%)

• Correlated: $_____ (_____%)

• Volatile: $_____ (_____%)

Risk Limits

Per Position: Max $_____ (% of portfolio) Per Protocol: Max $ (% of portfolio) Per Chain: Max $ (_____% of portfolio)

Your Limits:

• Single position: _____%

• Single protocol: _____%

• Single chain: _____%

💰 Phase 3: Aerodrome Strategy (15 minutes)

ve-Token Participation Plan

Scenario: You provide $10,000 to Aerodrome WETH/USDC pool

Step 1: Provide Liquidity

• Amount: $10,000

• Pool: WETH/USDC sAMM

• LP tokens received: _____

Step 2: Stake in Gauge

• Staked: _____ (Yes/No)

• Weekly emissions: _____ AERO

Step 3: Lock AERO (Optional)

• AERO earned: _____ per week

• Lock duration: _____ years

• veAERO received: _____

Step 4: Vote Strategy

• Pools to vote for: _________________________________

• Expected bribes: $_____ per week

• Total weekly return: $_____

Bribe Efficiency Analysis

Current Epoch Data:

• Total emissions: 10,000 AERO/week

• Total bribes: 2,000 AERO/week

• Bribe efficiency: _____ (emissions ÷ bribes)

Interpretation:

• Ratio > 1: _____ (Sustainable/Unsustainable)

• Should you participate? _____ (Yes/No)

• Why? _________________________________

🎯 Phase 4: Complete Multi-Protocol Plan (15 minutes)

Your Multi-Protocol Strategy

Portfolio Overview:

• Total capital: $_____

• Number of positions: _____

• Number of protocols: _____

• Number of chains: _____

Position Details:

Position 1:

• Protocol: _____

• Chain: _____

• Pair: _____ / _____

• Capital: $_____

• Strategy: _____

Position 2:

• Protocol: _____

• Chain: _____

• Pair: _____ / _____

• Capital: $_____

• Strategy: _____

Position 3:

• Protocol: _____

• Chain: _____

• Pair: _____ / _____

• Capital: $_____

• Strategy: _____

Expected Returns

Monthly Projections:

Position 1:

• Fees: $_____

• Emissions: $_____

• IL: -$_____

• Gas: -$_____

• Net: $_____

Position 2:

• Fees: $_____

• Emissions: $_____

• IL: -$_____

• Gas: -$_____

• Net: $_____

Position 3:

• Fees: $_____

• Emissions: $_____

• IL: -$_____

• Gas: -$_____

• Net: $_____

Total Monthly: $_____ Annual APY: _____%

📚 Next Steps

• Research protocols on your chosen chains

• Compare actual pools (use DefiLlama, Dune)

• Start with one protocol, expand gradually

• Review Lesson 7 for fee optimization

---

← Back to Lesson 6 | Next: Exercise 7 →