Genesis League is an upcoming play-to-earn game by splinterlands and its governance token airdrop has already been started. This airdrop was started in the last week of October month and now we are going to complete almost 2 months for the same. Initially, the GLX token price was low but later on, we have seen a good pump in the price where I was able to sell some of the two comes that I had in my wallet. I think it was a good decision considering the current price of the token in the market and now my plan is to buy back more tokens for the same funds that I had accumulated at that time by selling the token. This strategy is like selling at a higher price and buying back at a low price which can get me more tokens with the least effort.
GLX is the governance token of genesis league so it is understood that we are going to get multiple benefits from holding this coin. It is similar to SPS which is the governance token of splinterlands and we are getting multiple bonuses and benefits for holding the SPS in our account. The current apr for GLS is quite high however it is extracted that this will drop in more people who hold a bigger balance in their account. This is not a problem because if the apr reduces and the balance grows then I think the impact will not be different.
I have set up the claim and staking on autopilot mode using splex and it saves a lot of time. The use of technology makes life easy and I am happy that now I need not spend time depositing my tokens and all this is done by as splex. My current balance is 1774 GLX tokens as staked and I also have 15 GLT but not sure of the use case of this other coin. Even GLX does not have any use case as of now but once the game is live then we are going to see the better use of the token.
The crypto market is down and I can see some more drop in the coming days so I am waiting if can get an even better price for the glx and this is the reason why I am not buying. I am not buying the token as of now but I am staking all the tokens that I received through the airdrop as well as the holding apr. These things are connected with each other that includes SPS and GLX. To be honest I am not sure what the price will be for this to convince the game is life but I am sure that the team will have something in place which can boost the price quickly.
These days I am focused more on the SPS because it is also available at a lower price so once I have more SPS in my account then I am going to get more GLX through the daily airdrop. With more GLX as a holding, I am going to earn even more to comes as part of the higher apr paid by the project. Overall we have a bunch of options available on the platform and buying and planning things in a better way can help us to accumulate more tokens as well as the opportunity to get an increased airdrop.
I have not decided what balance I want to have in my wallet but hopefully, this could be 5000 coins in my account and that to take so it keeps on earning the fantastic apr paid by the project team. Hopefully, I will plan out things in a better way for GLX and this will be my other play to earn game and additional crypto goals.
Thank you
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I didn't know you could use splex for 'autopilot mode'. thanks for the information ;)
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The GLGT tokens should have a similar use as VOUCHERS in Splinterlands... For discounts, special promotions, etc... And regarding the GLX tokens compared to the SPS tokens, there will be 1bn less of them, and IF we see more games from the GLS it should have a use case in different platforms... I hope that we will see at least one next year!
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You have given a very good update about Genesis League. This is going to be very useful for me. And what you mentioned on sps and glx tokens also. It felt very good even after reading it. You kept sharing such posts. thanx