Staking GMLSPA Packs - Possible rewards and benefits in staking.
Finally, GLG has opened the pack staking feature of Genesis League Sports, allowing users who purchased GMLSPA Packs to stake them in their 15M GLX token Pool. This staking pool is consist of two parts, half of which(7.5M) is for the Presale 1 purchasers and the other half is for the Presale 2. Presale 1 is still running and will end mid-January when Presale 2 kicks in.\
Presale 1 purchasers will have the whole access to 15 million GLX tokens (both staking pools) while purchasers for Presale 2 will only have access to the 2nd staking pool worth 7.5M of GLX. I will enjoy the benefits of this whole staking pool with my 110 GMLSPA packs.
To stake your packs:
- go to https://goals.genesisleaguesports.com/ and login to your email/hive account.
- hover over Packs on the left side of your screen.
- stake your available GMLSPA packs.
- unstaking is not yet available.
Possible daily rewards
The staking pool of Presale 1 amounts to 7.5M of GLX tokens and it is planned to be distributed daily with an estimate of 150,000 tokens, for about 50 days until the launch of Presale 2.
Currently, there are more than 230k packs left for the Presale 1, assuming that there are more or less 270k packs have been sold and no purchase would happen until the first distribution of staking rewards in Dec. 13, 2022, I would get myself 60+ of GLX tokens.
My rewards = (my packs/total packs sold) x 150,000 GLX
When all Presale 1 packs have been sold out within the staking period, my estimated daily rewards will be down to 33 tokens.
When all Presale packs been sold out(Presale 1 and 2) within the staking period of Presales 1 and 2, my estimated daily rewards will be down to 16.5.
But take note that the lesser the users that stake their packs during staking period, the more rewards a user can get in the pool.
Benefits of staking
Aside from the staking rewards that a user may get in staking their GMLSPA packs, staking imposes indirect yet good benefits to the game and its economy.
Staking user helps in controlling packs that are coming in and out the market. This makes other potential investors or users participate in sale activities such as on presale and general sale.
Staking packs also help in price stabilization of the pack itself creating a strong control of supply while discovering the demand. The only visible catch in this staking is the GLX rewards for the early investors. Others will only be clearer as the roadmap progresses.
As of now, staking purchased packs is one of the vital ways in supporting this blockchain game.
What is HIVE?
If you want to know more about Hive, visit some links below.
- What is HIVE and how does it work?
- Where does the value of HIVE (the token) come from?
- Where does the money on your posts come from on Hive?
- What are the different ways to earn HIVE?
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