GLG Update - Summary

Exciting news for those of us following the progress of the upcoming blockchain game Genesis League Goals! Phase 2 of the pack sale has started and it also brought some big updates on the tokenomics side. Let's have a look,

What's new?

• Packs cost $10 and can be bought using either CREDITS or GLUSD.

• A pack can be bought at $5 & 1 GLGT token.

• GLUSD and GLGT have been bridged to Hive-Engine.

• In phase 2 a FRANCHISE LICENSE is needed to buy packs. It's similar to the Spellbook used in Splinterlands to get to enjoy all the rewards. It will cost $10 but if you took part in pre-sale phase 1, you have been airdropped a license for free - even if you bought just one pack.

What I also find interesting is that new players outside the Hive ecosystem will have a Hive account made for them when purchasing a franchise license.

GLUSD

Similar to DEC in Splinterlands, GLUSD can be used to buy packs instead of using CREDITS to do that. GLUSD is supposed to be equivalent to one $. You can get GLUSD by burning GLX tokens with a fee of 2.5%. GLUSD is also available on Hive-Engine.

Even though the supply of GLX is high I think introducing GLUSD and that way a new use case for GLX, will eventually push GLX price higher.

This is already seen in the GLX price if we look at the January low of 0.0493 HIVE and today's last price of 0.0761 HIVE.

GLGT

The big question is are people going to buy GLGT to buy packs? Those of us who have been staking GLX should probably have enough GLGT so in other words, is there going to be outside demand for packs and therefore demand for GLGT.

With very high demand, the GLGT price could potentially be close to $5 because anything under that would still be a discount. However, I doubt that we reach those heights but who knows?

I think GLGT is somewhat comparable to VOUCHERs in Splinterlands and there will probably be many use cases for it in the future so stacking now would be a solid option.

What's next?

Validator license sale is planned to start at the end of Q1. That will probably be financially out of my reach but I'll be following closely the effect this has on GLG asset prices.

• GLUSD will be used to buy a validator license and GLGT is used to get a discount.
• Players with licenses will be earning GLX and GLGT.

My plans for GLX

As mentioned, GLX price has been rising a bit in February and I sold some staking earnings with the idea of getting some of the initial investment out.

However, with the recent update, I'm back to staking as I believe there's still room for the GLX price to increase. Besides, APR is still very lucrative at 192%.

By looking at the roadmap we can see the pack opening getting closer as well as the actual game launch. These will probably have a huge effect on GLG asset prices so staking is the way for me at the moment.

Conclusion

Big thanks to the team for pushing these updates on time! Got my license and the bridges and new functions seem to run smoothly. With many other projects, I've learned that this is rarely the case when releasing many new things at the same time - so thanks again! Feeling bullish here.