It is now almost more than one year of the announcement of the Genesis Goal league announced the "Play2Earn" game in association with the MLSPA. Also they did their "one-year long" airdrop of their governance token to the SPLINTERLANDS player based on their SPS stake. This one year airdrop is recently concluded and it removed a major chunk of liquid token getting generated now. In next 11 days, GLX staking rewards that yeilds GLX are also going to be completed, that will actually momentarily pause the minting of new GLX until "play2earn" rewards start or liquidity pool rewards kick in.
How many interested users in Hive are about GLX?
When I visit the GLX discord, I do find many interested users who are discussing strategy or improvements in-game mechanics but in other hand , since GLX is airdropped to SPS power holders too, so they become part of ecosystem in which they have very little interest and majority of this airdropped GLX is getting sold in the market as it is evident by price of the GLX actually increased after airdrop ended.
Second, the delay in the public beta of this game is also cause of low interest in the game.
Thirdly, User who are already in Sorare, will like to keep their focus on established and mature game that is currently Sorare.
My progress for GLX stake.
I had the initial target of some 50K GLX stake but when GLX price was around a penny, I started buying GLX and easy crossed 50K GLX stake, since it was more than 100 days of the airdrop was left and staking APR was above 100% , I revised my target to 200K GLX.
So now I landed on 115K GLX stake, i.e almost more than double of the original goal but half of the revised target. At this stage I am now going for a cautious approach as below.
Buy GLX, until I hit 200K GLX stake.
Buy GLX, if it is under a penny, irrespective of my goal, if I reach 200K GLX stake, then keep the extra as a liquid.
Limited buy, i.e only using GLGT rewards to buy GLX , if GLX is at a range of 1 to 3 cents.
**4. ** If GLX go above 5 cents, sell all excess GLX above 100K stake.
My 2cents for users who acquired GLX stake due to airdrop but not interested in token and game.
IMHO, if you are looking for an exit, then wait for 11 days at least (when GLX rewards for GLX staking will end) and then you can sell your GLX. I expect a GLX pump after the staking rewards that mint GLX will stop pricing GLX.
Actually, it is your ownership of token , and so many different strategies can be applied, so think and choose one that will best fit your goals and vision.
Hope you liked it, so please feel free to upvote, reblog, and comment.
Posted Using InLeo Alpha
