Execute Optimal Strategies with Degen Mode

Hashstack
4 min readApr 18, 2024

We’re excited to announce the launch of Degen Mode, a feature designed to streamline leveraged arbitrage in the cryptocurrency market. With Degen Mode, you can easily explore market opportunities and capitalize on them using optimal strategies, giving you a competitive edge in the dynamic world of crypto.

What Is Degen Mode?

Degen Mode is a powerful tool that allows users to provide liquidity, engage in swaps within integrated dapps, and earn higher Annual Percentage Rates (APRs). By leveraging Degen Mode, you can act quickly on opportunities and execute strategies efficiently, making it easier for you to stay ahead in the market.

Access the Degen Mode here: https://app.hashstack.finance/v1/degen/

How It Works

To access Degen Mode, users need to have a supply of $1,000 or more in a single asset. If the supply falls below this threshold, a friendly reminder will be provided to ensure the address has sufficient supply. The strategy involves borrowing and spending a fixed amount of $5,000 worth of assets. Users with multiple collaterals higher than $1,000 can switch between them and extend their supply, thereby reducing their leverage position.

Benefits of Degen Mode

  • Optimal Strategy Selection: Choose from a range of optimal strategies based on maximum APR, market depth, and other key metrics.
  • Liquidity Provision and Swaps: Seamlessly provide liquidity and execute swaps within integrated dapps.
  • Leverage Authority: Adjust your leverage position by supplying more than $1,000 in a single asset, reducing your overall risk exposure.
  • Easy Execution: With a few clicks, you can execute your chosen strategy and track your progress in real-time.

Here’s how to participate

Let’s take you through the fundamental steps on how you can execute a strategy.

Steps to Execute a Strategy

Start by supplying assets worth $1,000 in a single asset. You can do this directly from the app homepage. Here’s how:

  1. Go to your Dashboard and click on the “Degen” tab.

2. Choose an Automated Market Maker (AMM) of your choice. Currently, Hashstack’s Degen Mode is integrated with both Jediswap and zkLend.

Select the strategy you want to execute. For example, let’s say you choose the USDC-USDT LP USDC+USDT strategy. This means that your collateral is USDC, and you will borrow USDT to provide liquidity to the USDC+USDT pool.

3. If you have multiple supplies, select the collateral from the dropdown and enter the desired amount.

4. Click the “Execute” button.

5. Once you click “Execute,” a modal will appear, displaying the details of your selected strategy and its progress status. Take a moment to review the information.

After the execution is complete, you can close the modal. You can track the progress of your strategy from the “Your Borrow” page.

Key Considerations for Using Degen Mode

  • To use this feature, ensure you have at least $1,000 worth of single assets available free from any active spending or borrowing. You should have this amount of capital ready to deploy.
  • The maximum amount that users can borrow and spend is $5,000 worth of a single asset. This limit is fixed, but users can experiment with multiple strategies as long as they execute them one at a time.
  • Once you select the desired strategy in Degen Mode and click the “Execute” button, the app will automatically borrow and execute the strategy.
  • If users supply more than $1,000 worth of a single asset, this will reduce the leverage position accordingly.

Note: The feature is in beta mode so proceed accordingly.

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Hashstack

A non-custodial money market protocol enabling secure under-collateralised loans on the blockchain. Website- https://hashstack.finance