Last few days of GLX airdrop and staking APR and my view on GLX.
To be precise, only 18 days are left for airdrop and staking APR to end and afterwards, GLX minting might be halted for the coming days as "Play2Earn" rewards that will mint GLX are yet to be started. Another reward will be for GLX pool and providing liquidity in the pool, but I am not sure if it generates GLX as reward. I probably think it might be not as both GLX:SWAP.HIVE and GLX:SPS pool contains less than 3.5 million GLX.
So it is guaranteed that GLX will not get sell pressure for airdrop rewards of GLX.
I started with the goal of 50K to 60K GLX initially but once I crossed 50K GLX mark, I increased my Goal to 200K GLX. Till now I have crossed the 100K GLX mark and to be precise I have now staked 112K GLX which is yielding me both staked GLX and GLGT but after 18 days, I will be getting only GLGT as staked rewards. Currently staking APR is 59% of GLX and I think GLGT staking APR is may be around 5% only. So one of my main worry is that if someone like to unstake their GLX and sell it as staking APR is too low then it might bring down GLX price further down.
A good news.
I saw the proposal by team for providing liquidity on finance smart chain and it supposed to cause more awareness of this game outside the Hive ecosystem but another thing I come to know that DAO is holding 50 Million liquid GLX token also. I used to be a little worried about 70 million liquid GLX token but look like the liquidity pool and DAO have 75% of liquid tokens of total liquid token available, so it really bring down the number of liquid tokens available.
My going forward strategy.
Since GLX is going down so I keep buying little every week and put a big order of 65000 GLX at a very low price, I am still going for a 200K GLX stake and willing to take chances. I think even if I lose then the loss will not be significant but if it do turn around then gains can be phenomenal. So let's take a risk and see how GLX do in 2024 and finally, if I am able to make it 200K or not.
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