I was hoping to time the crypto cycle with my largest stake in the COTI Treasury and every week that ticks by it is looking highly unlikely we will see the peak of this cycle in the next 4 weeks. This stake will unlock on the 18th December and is looking more likely it will need relocking and in this case will be another 360 days.
The penalties for breaking the lock period are 2% and this reduces over the time period so a 1 year locked stake broken after 6 months would then result in a 1% penalty. The problem is you cannot sit around waiting and one just needs to re stake. Not a total disaster as the stake would pay for the penalties within around 60 days
For now there is no other choice, but to keep on growing ones stake trying to build a bigger bag as possible. Knowing I could be paying a penalty on my 235K COTI staked as a worse case scenario would be 4700 COTI and I can accumulate and grow another 6 or 7K over the next 4 weeks. I hate the idea of wasting coins by giving them away and why I have split my staking pools with different unlocking dates thus reducing the penalties when the time comes to sell. This is a good problem to have and the more you pay out highlights how big your stake is and 2% or whatever the penalty is, is not really that important.
One of my other stakes is locked until August 5th next year and I have stopped growing this stake due to thinking we may have seen the peak of this cycle in December which is highly unlikely, but could still happen. Once we pass the unlocked date of the top stake on 18th December I will turn my attention to growing the 5th August stake. This is just protecting the stake you have already grown and the more you have 1 or 2% can still be a significant number especially if that token is now worth a dollar or two.
Having had an initial target of 200K COTI staked in the Treasury that number would be close to 18% over target by next week. The extra over target percentages are taking into account any penalties plus exchange fees and off ramp service fees. Pallapay charges 2% for cashing in your crypto and sending the funds in whatever currency required to your bank account.
My head is now leaning to a peak for this cycle some time late next year which would definitely extend the crypto cycle we once knew by another 6-18 months which kind of complicates things and does not make things easier to plan. I am happy either way as if we see a peak this year that would be great, but next year some time I could have an extra 100K COTI to sell which would be also superb. We are in crypto to make money so a longer time to accumulate cannot be seen as a negative and why staking and accumulating those rewards is such a fun way to grow.
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Such a pain things aren't playing out the way he hoped. I think I have some unlocking soon too.