Road to 5k Staked GLX tokens

Genesis league is another game by the splinterlands team. This game is still in the development phase but they have launched their governance token. This is similar to the SPS token and here the governance token name is GLX. The current price for this token is low and currently trading in the hive engine for 0.10 hive but this has gone beyond 1 hive after the launch. Basically, I believe that this token is lacking the use case because the game is not live yet. I was able to sell some tokens at a high price and then buy back at a low. Usually, we miss this type of opportunity but I was lucky in up to get this however that time my balance was not big so only I could accumulate a few hundred hive in total.

Now I have started holding all my tokens received through the airdrop and staking reward. Because the market is down so obviously we can see the effect on many other coins and this is why I believe that selling now is not a good idea. I have a similar approach with GLX like SPS and hope to have at least 10000 tokens however I may increase it further.

GLX Holding

Currently, I have 3300 GLX tokens and all these are deposited and the APR is 300%. This is huge I must say and this will drop but by the time that happens I want to grab this opportunity and this will help me or a good number of tokens as a report for staking my holding. It is obvious that more people will deposit their tokens then APR will drop but that will take a couple of week time to happen. Whatever will happen is ok for me but for now, I am taking the benefits of higher apr rewards for GLX staking. I remember a similar situation with sps and that time also I did deposit all my SPS holding to grab the earning opportunity.

src

GLX Staking reward

Below is the illustration of the GLX reward that I am earning. Since I have 3300 tokens so I entered the same amount and then it shows that APR is 300% and at this rate, I earn 27.11 GLX daily. There is no such option provided on the genesis league website so this portal https://www.splintercards.com/ is useful to get this information. I am happy to see that in a month I can earn approx 800 GLX and with increasing stake, this will go up, and even with reducing apr this should be intact. I have enabled auto-stake for GLX through splex and this saves time and ensures that my tokens are not idle.

src

GLX Goal

My ultimate goal is to have at least 10k GLX but for now, I want to make it 5k first and then to 10k post this. Once I make this 10k then will increase it further so this way I will continue to grow my holding and by that time game should be live too. Once the game is live, then we can see the real use case and that result in real price determination for GLX so till then we can earn, trade or stake. I also get some GLGT on GLX stake but not sure of the use case of this so will have to wait to see how we can use the token in the game ecosystem.

Price

Here is the chart of GLX and the current price is approx 0.10 hive and this seems stable this week. There is a trading volume for 24 hrs is 5290 USD and this is good I think. I don't see any reason to sell at this price but surely a good buy price for those who want to buy now and earn a decent reward.

HE Link

---

The first-ever town hall for genesis league is scheduled this week and I expect that this will give more updates on the game including the development and even the launch. I look forward to the event and seeing what updates we get to know through this town hall.

Thank you

Posted Using LeoFinance ^Beta