GLX:SPS DeFi Pool - A way to Compund your Splinterlands' Governance Token assets

over 1 year ago (Edited)

Splinterlands game creators have helped cushion the effect of the steep crypto bear with the airdropping of $GLX, governance token for Genesis League Sports being the novel sports gaming platform created. The $GLX token has performed beautifully over the last one week and the market boom has helped early byers and huge airdrop rcipients take some profits selling their GLX tokens.

Moreover, the high staking reward accrues to GLX due to the less amount of token staked presently, has made staking GLX a very rewarding exercise. Today, GLX made it highs to $0.38 price and each was exchanged for 1.2 HIVE. While we understand that the price action of GLX may be a temporary hype as with other cryptos, the roadmap for the development around Genesis League Sports would help sustain a healthy momentum with the sports gaming assets.

In a few weeks, GLX would be burned to mint $GLUSD. That season would mark another great time for GLX as many players and investors would prefer to hold some stablecoins and that would make the demand for GLX also grow. The splinterlands team are also doing a great job in making the GLX market very robust being listed on hive-engine only.

GLX:SPS DeFi Pool

Today, the team announced the pairing of GLX with SPS on Dieselpool on tribaldex. That signals GLX entry into the DeFi world. $GLX is paired against $SPS, the governance token for the splinterlands ecosystem. Already, the GLX:SPS liquidity pool is worth $46,208 and recorded a trading volume of $244,856 so far. The liquidity pool details can be accessed here.

This new development gives an additional trading pair for GLX. Investors now have the option of trading GLX against SPS in addition to the GLX against SWAP.HIVE pair on hive-engine market. I believe this step would salvage the dwindling price of SPS as it wpuld be easier to stack the SPS racks with free booming GLX tokens.

Also, the Hive-engine team would be making a lot of revenue from the GLX:SPS trading pair. Fee of $307 has been recorded already. I know this would form reward structure for the pool's liquidity providers.

You can add Liquidity to GLX:SPS pair here

At the time of writing this post, 1000 SPS pairs with 137 GLX. That means 7.3 SPS to 1 GLX. You can add liquidity here. I don't know how soon LP rewards for staking GLX:SPS would be but that would sure be a good investment option in the splinterlands ecosystem.

Merrier times are ahead of splinterlands investors. The cycle would be like:

Stake SPS
Earn GLX airdrop
Stake GLX
Earn more GLX
Pool earned GLX in GLX:SPS
Earn more rewards.
Possibly, Swap GLX into SPS and restart the investment loop.

Let's see what unfolds in the coming days and weeks around the Genesis league Sports platform and Splinterlands ecosystem at large.

Splinterlands game is termed the "next generation of collectible card games" in which allows players to collect, trade, and battle with provably scarce digital collectibles with real-world value. Battles on Splinterlands Unlike most trading card games, are fast and furious, and are usually completed within few minutes. The Splinterlands gameplay is simple and easy to learn viz: reviewing combat rules, making and submitting of the team and watching the battle unfold.

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