GLX offers 109% of APR with staking

It is always a good idea to accumulate assets that pay us a kind of dividend or passive income. Although we have so many such options in the crypto market there are very few projects that offer returns on the holding and reliability is also one concern that we need to go through before we put our money on the project. Splinterlands is a solid project where we can invest the amount without worrying about the team and the overall growth because we have seen in the past that how much potential this project has and even in the bear market things are going pretty well.

Genesis League Sports is another gaming project by the same team and currently, this is under development. While this project is still under development but they have launched their tokens and some other stuff in the market which we can buy and even stake to earn some decent returns. The governance token of this project is called glx and we have been getting the AirDrop since October month last year. As we had one year-long AirDrop for sps so for the GL X also we are going to have the same and distribution will continue to happen for the year long.

GLX APR is Huge

The glx daily distribution is based on sps holding so if you are holding more sps then accordingly you are rewarded with more glx and the current apr is very good if you hold GLX in the game account. The token is available in the market and you have the option to trade but I believe the right option is to hold tokens in the game account and that too in stake form so it earns APR for you. The apr is 109% as of now and its so high that we should not be missing it, now since the GLX price is low its sounds like a great deal.

Below is the snapshot of my GLX holding I have almost 14k tokens in my account and I am trying to have an even bigger balance as this is the right time to grab a bunch from the market. We are left with 190 days for the distribution and its more than 6 months. I expect that the APR will drop further when staked tokens count grow but by that time we can grow our holding also so that there is no impact on the staking reward.

src

I buy and Stake

Whatever GLX I receive daily is staked but I also buy from the market from time to time. We know that the token value is low because we don't have any use case since the game is not available yet. Once the game is live then the value is highly expected to rise and before that, I would like to accumulate a decent holding. I staked 879 GLX today and now I think that I need to monitor the prices more and grow the stake. I have not decided on any specific number as a goal but I just keep on adding and may someday I can match the count with my SPS balance. It may take time but its quite possible and then I can chill because both tokens would bring a better profitability for me.

src

GLX Price

As I said that the GLX price is quite low this time and seems like a good time to buy more. It went to almost $1 in the beginning and I was able to sell some with high value and buyback. This is a good strategy that helps us to grow the holding. I can not say if the price will go up or down but I find it cheap and that too when the game is not live yet so we should not be missing out on such deals on the blockchain. There is no risk-free investment but on such projects, the risk raion is too low and we can think of investing easily.

src

I am still focused on sps because I want to achieve my 100 Ki sps goal as soon as possible and now I am slightly more than 95K. I anticipate that in the next couple of weeks, I should be able to achieve that then I will be thinking about adding more assets and even upgrading the cards in my account. This sps goal is my primary focus I and I want to get this done as soon as possible because then I can focus on other things which are also important of course having a balance is also important with various assets in the game. I did some upgrades with cards in Splinterlands today but it is not much however I plan to get it done for many cards in the next couple of months so that I can play with the higher leagues.

Thank you