GLX token Staking offers Huge returns
Its been 3 weeks of GLX airdrop and the price is doing pretty well. Just to mention that GLX is the governance token of the genesis league sports games by splinterlands. This airdrop is given daily to the users who are holding an SPS stake in the game account. Currently, approx 1 GLX token is airdropped daily for 1700 SPS stakes. Airdrop is something that we all want to have at the max as its a free money and we dont want to miss the opportunity but things are different here. The difference is that we get this AirDrop for the long term which is one year and that too we have the option to increase it by adding more sps to the stake. This is a different kind of AirDrop model as far as I'm aware because no project other than splinterland has done it.
the AirDrop for glx was started effective 25th October 2022 and it will be one month after six more days. I know some of the people on the chain that are playing different strategies and most of them are trying to grow their overall sps holding which I think is a good move. I go through a lot of posts about AirDrop as well as the sps price where I see that people believe in the sps even when the price is low. People also believe in glx because they expect it to be another solid governance coin in the game and both points are valid. Ultimately it is a game and it is built on blockchain where the prices are determined by the cryptocurrency market so things can be a little up or down. Another good thing is that if you are not part of the glx AirDrop even now then you have the option to buy sps I ask if the current price is low and you will start getting the AirDrop from the next day.
GLX Stake APR
the current glx is taking apr is more than 1600% which I think is Hughes and this is going to drop further in the coming days. It is because this is not sustainable and it will continue to drop like we have seen with sps in the past but people who have done this taking are earning pretty well and should be very happy. I sold out the tokens which I accumulated in the initial days but now I have started accumulating my tokens because I want to earn this higher apr. Even I will have a mixed strategy where I will accumulate as well as I will sell out some so that I can grow my sps holding. I did not buy any sps however the current price is very good and want to buy but I think it is good to wait for some more time so that maybe I can get an even better price.
I have started my staking activity yesterday only so I will continue to share the progress from time to time and will also monitor how it is going. As of now, I have to say that it is very much profitable because if you deposit 1000 tokens then you will be able to earn approximately $11 every day put the reward. Above is the screenshot which shows the reward that you can earn whereas you can see the daily reward is 45 glx approximately.
I have also shared the current market price for glx tokens where you can see that the price is ranging between 0.7 hive. It keeps on fluctuating but if we look at the aspect where the gameplay it is still not launched and the token is doing pretty well so we can expect that once the game is live then the price will grow even further.
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