Hi guys
So it happens that the GLX token frenzy has come to a close….at least for now. This was one token that came out right under my nose that I hardly paid much attention to and went 💥 boom
I knew when it launched cuz it was airdropped to every ($SPS) holder, and normally the first thing anyone does is to check the value of the token, although it took a while for them to land on the market,
But as soon as it got to Hive-engine, trust that I did, I found the token sitting around $0.05 was it? Or maybe less, I was even surprised to see it was already garnering some trading volume, I didn’t get why anyone would be trading it lol, I guessed some were dumping and some were picking them up, free market right? then before I knew it, a liquidity pool had arrived and up the token went as it was garnished with mega juiced up APR.
The thing is that for anyone to get their hands on such juicy APR’s, they had to either buy the tokens directly from the market or be airdropped as a result of being an SPs stakeholder. Speaking from the price actions of the token, many people took the market route.
So why am I saying this? What did I do?
Interesting how the GLX token frenzy was happening as the overall market was crashing. SPS at the time had crashed to new lows of $0.038, I had to make a choice, buy GLX or buy more SPS to stake.
A token with zero utility couldn’t sustain such momentum in my opinion So I bought more SPS to stake cuz I knew that with more SPS staked, I’ll be getting more GLX tokens, through that, whatever happens to the price, whether it sustains its momentum or not I’ll be getting it for free and getting it for free is what I’ve been doing.
With 8k SPs staked, I think I get about 6 GLX tokens everyday coupled with those juicy staking rewards from staking GLX tokens. So technically its not free, you have to own SPS staked, but then again, since I got most of the sps for free, its still technically getting the GLX tokens for free. What do you think?
Have an amazing week guys.
Posted Using LeoFinance Beta
Doing the same. Staking SPS to get GLX AirDrop. 🙌🏻
@tipu curate
should work out ling term as I still have confidence in the team; but looks like it's going to be a really long hold for both tokens
I think so too….also, I think like SPS was the only token to be useable to buy Riftwatchers packs, there will be utilities tied to GLX tokens too like that
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🥹🥹🥹🥹🥹🥹such awesomeness. Sweetness
That’s mad bro
Thanks for sharing! - @mango-juice
nice post
If you’ve been a big staker on SPS, then this GLX airdrop would be a huge win