The best moment to stake GLX is now
Since yesterday it is possible to stake GLX tokens on https://genesisleaguesports.com/. It's in the very first days that the APR is the highest. There is a fix reward pool for staking but since very few tokens are in circulation and even fewer are staked, the APR for staking is amazing.
In 15 minutes, I managed to earn 1 GLX staking reward for 600 GLX tokens. This means that at that moment, I would earn 4 GLX per hour, 48 GLX per Day or 17'520 GLX per year...
If my calculation is correct, the staking reward would be around 2900 % APR !
In addition to that, you also earn another token for staking your GLX. It's the token that corresponds to the voucher token on Splinterlands: GLGT token. This one can't be traded yet but it's an additional income.
When you stake GLX, you not only earn GLX tokens but also GLGT tokens
A lot of work when you have several accounts
Since the GLX airdrop is paid according to the number of SPS tokens staked, you need one Genesis League account for every account you have SPS staked. You need then to stake your tokens for each account separately and it can be quite a lot of work. At the moment it's is however worth it. The tokens that you manage to accumulate now, will work for you in the future.
What about the GLX price?
It is now also possible to transfer your GLX tokens to tribaldex and trade them there. At the moment the price for one GLX token is around 0.47 Hive. In my opinion it's quite expensive because of the high APR people want to claim tokens now. Over time, when APR for staking becomes smaller, I believe that the price of GLX will rather go down.
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Thank you - I made sure to stake it. I was debating whether to sell as I didn't buy packs, but staking allows me to build those "sats"
I'm also debating selling some tokens but I think I will wait a bit and get as much stake as possible in the first days.
Cool stuff. I’m going to check if out
Posted Using LeoFinance Beta
These are some nice returns ;-)
Hmm I decided to take the easy way out and sold my tokens haha! Saw too many depreciation in tokens with no concrete utility, so I rather convert them to Hive or SPS.
I'm sure prices will go south quickly but it's easy to fill the bags now :-)
Doing half and half i have prob almost a million GLX coming to me from the pre sale extra to my sps and node drops soon if price is up and nodes are 1/1 ill be happy bc they will be worth like 4K lol
Excellent information, Achim.
Thank you for sharing it.
It is quite helpful.
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Happy you found it useful ;-)
thanks sir for the info. I would have missed this.
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Enjoy collecting the GLX tokens ;-)
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I am already inside! Thank you very much for the information.
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Alway nice to get some free tokens ;-)
I initially planned to follow the strategy of selling one half of the tokens and staking the other 50 percent.
Then when I saw that I was making so much GLX I immediately changed my mind and decided to stake them all.
Today I wanted to calculate the APR but you took care of it so thank you :) 2900% is a monster APR!
So I totally agree with you putting the tokens all in stake seems the best option!
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I like to take some profits on the way but when APR is like that, I prefer to reinvest the rewards and build my stake the easy way :-)
I have checked my account. I got 1.9 tokens so far. I went to hive-engine to buy, it's over 20 cents now !
It's the best time to collect these tokens and let them work for you!
Do you know where we can see the APR for staking?
!CTP
At the moment it's not visible on the website. I calculated it manually so it's maybe not 100% accurate ;-)
Great article... thank you! But also I kind of want to say, "shhhh, let's keep this to ourselves!" :)
HOWEVER... You're APR calculation is fairly close... but if you're getting 4GLX/Hour, that means you're getting 96 in a day, not 48. So at the time of this writing, it would have been 5,800% APR. Now it's around 4,700%-ish.
Posted using Splintertalk
Omg, thanks for correcting my mistake lol. I counted only daylight time haha
Im nicely staking each day and staking those SATS! Oh man, I think Im gonna like this game!
Staking in the first days is so much fun with ridiculous APR :-)
I love airdrops!
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Thanks a ton for the info; I still hadn't checked the website at all! Already staking and you're right, for the way numbers go up, even without calculations I'd say the APR is insane now!
Yes APR was nuts in the first days. I even made a mistake while calculating, so it was at about 5800 % APR when I did it!!
And it's still going strong, I made almost 10% of my total staked today alone!
I just sold my tokens instead. Just wondering, what is the unstaking time and are the tokens you get from staking liquid or staked?
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I believe unstaking takes 4 weeks but I'm not 100% sure. Staking rewards are liquid.
I am staking my GLX to build up a position in the new token. I do agree it is probably best to take some off the table to stay diversified. Anything about .05 will return 100% value to pack stakers. So I am waiting on the packs to start paying out.
!PIZZA
I haven't bought any packs yet. I imagine I could use some GLX tokens, swap them for Hive and buy packs with them :-)
what amount of sps do you have staked ? Good Post bro
Im getting quite a bit i have like 600K sps will be bumping to 3 million at some point
wow man thats a great ammount. keep doing what you are doing !!!!