$GLX Tanks Further - My Plans for $GLX Moving Ahead...

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Hey All,

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I have monitoring the price of $GLX token for quite sometime now. But before we start with my plans ahead for $GLX, lets first look into what $GLX is all about with a brief introduction about this token. The Genesis Sport League portal well summarizes about $GLX. It is a brand new upcoming NFT based game that is currently being developed. We can expect the game to be live in a next few quarters and most importantly the team associated to this game is @Splinterlands team. Which is one of my primary reason for me to buy and stake more $GLX tokens. The token $GLX is the Governance token for the genesis league sports game. We all know how valuable and the significance the governance tokens carry that cannot be ignored. It gives users the control on making decisions tied to the development of the project and other matters associated to it. At the same time it also allows the users who HODL the governance token the right to vote on proposed changes to a blockchain network as well.

My Current stake in $GLX - Plans Ahead..

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Here is my current stake in the $GLX token. This is growing at an APR of 135% approximately. And to be honest here most of the $GLX gained is by the Airdrop and staking rewards being compounded daily. Without a doubt I did buy $GLX in bulk in two phases and today is the second phase where I bought close to 5K+ $GLX as it tanked more than 15% today and the price I bout it for is around $0.014 cents. All the $GLX bought was moved over to the game and were staked immediately. One smart move that helped me to grow my $GLX was around selling $GLX at its all time high. I had earlier sold $GLX at high for $HIVE and invested into other tokens like $SPS and $LEO. But considering the token now trading at its lows, thought that it would be a good entry point to stack buy some $GLX and stake them all.

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I do HODL some GMLSPA packs i.e. close to 70 of these packs and they are all stake as well giving out $GLX as staking rewards. GMLSPA packs staking rewards will go for another 62 days and after that no rewards will be distributed for staking packs. In general, currently I am able to receive 300+ $GLX tokens daily via all the staking rewards. And I am directing all these rewards back to the staking pool. The plan is to reach to a point of having at least 50K+ $GLX staked. In between if $GLX tanks further, I did like to buy another 10K+ $GLX tokens.

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But the price that I am looking for is somewhere close to a ONE cent.. I guess we could see this price coming for $GLX soon. At the moment there is a hefty selling pressure for the coin and we are seeing daily volume of around $5K+ approximate where 10K+ $GLX tokens exchange hands. Also earlier I had plans to buy the GLS Validator License considering the rewards associated to it which is quite tempting. Have a look at it::

As mentioned in the GLS Whitepaper, there are 100,000,000 GLX tokens for 65 month allocated to a reward pool for GLS Validator Node operators. That means approximately 51,280 GLX tokens will be rewarded daily to GLS validator node operators.

But then considering the price of $GLX tank and token trading at it all times lows. I thought it did be better off buying $GLX tokens from the internal market and stake them all. As mentioned above, I look forwards to buying some more $GLX tokens if the price further drops and maybe some more packs to bring my total from 70 to 100 100 GMLSPA packs purchased.

Have Your SAY on $GLX...

Are you stacking up $GLX... Do you feel that $GLX is going to be the Next Big thing in NFT? What is your strategy looking for $GLX token? Let me know your thoughts in the comment box below... :-)

Buying $GLX on Dip - Is $GLX going to be the Next BIG NFT Pick?

#glx #sps #staking #apr #leodex #splinterlands #glct #node #glxnode

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Best Regards

Image Credits:: genesisleaguesports, leodex

Posted Using LeoFinance Beta

glx leodex nft ctp neoxian splinterlands spt defi leofinance
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I hope it does big things for you :) ... I can't afford another token at the moment, but this does look exciting!

Are you familiar with Dreemport, by the way?

This post has been manually curated by the VYB curation project

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I also think the GLX price will drop much lower at least in the next 2 months, until game release. Yesterday I read their whitepaper, again. The only sure information I could get, again:

Concepts contained in this whitepaper are subject to change.

This sentence is on every single page. And it must be in play some cases.

I am in it for the long term (ok a bit for speculation, too), so i buy as much as packs I can, and I forgot GLX. I have around 4K, won't buy anymore, pointless, even if the staking reward % is great.

The packs will be 100% good investment, as this year packs, cards will provide the highest in game earnings in the future. Based on the packs info for this year, season and the reward pool detailing:

https://whitepaper-goals.genesisleaguesports.com/pack-tokenomics-2023-season
https://whitepaper-goals.genesisleaguesports.com/reward-pools

GLX:
https://whitepaper.genesisleaguesports.com/tokenomics/genesis-league-governance-glx-token

so the market cap is 2B GLX token, this year min 200M will be released, more likely 250-300M if the game starts, today the supply shows 82M. not hard to imagine, it won't go up in short-, mid-term. unless they wont introduce a new coming game, but even in that case, they will release more GLX from the 1,4B reverse...

and why i write here, asking you about GLGT, as i found only this info about it:
https://whitepaper.genesisleaguesports.com/tokenomics/genesis-league-game-time-glgt-token

so do you know any max supply number, info about it? as this token will be much more valuable in the near future for sure, as it will be necessary for significant earnings in the game, today total supply is 1,36M. we've seen it in many other games, that a secondary token is much more valuable, often 10-20 times more. today GLX and GLGT cost almost the same, but if the game starts it can go much-much higher, based on supply i suppose it can go over 0.20-0.30$ easily, depends on how much you need for certain in-game actions...

so, as nobody talks about it, what do you know about GLGT? as my speculation is on that. for me, it looks like, that will be the important in game token - somehow they 'forgot' to mention it in the whitepaper... :)

do you know max supply, what exact purposes we can use? (i suppose there will be big p2e tournaments, cups in the game where you can register only with this token. they even wrote, it will be used for events.)

Do you know, GLGT will be necessary for the coming years, yearly pack purchases, too?

what do you think? would be good to get a 2nd opinion. anyway, my bet is on that both for speculation and long term, for gameplay. And looks like, not so many people notice it, take attention, read whitepaper, faq.

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I've been watching GLX price for a while and dollar cost averaging as the price continues to tank. I added another 2K to my collection today and that gets me to around 54K GLX staked. I'm also restaking everything I earn from staking tokens and packs.

I have 85 packs staked, earning me more tokens. My target is 100K tokens in the coming weeks. I want to reach the target before the game is launched or at least before the 224 days of staking reward elapses.

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As a small holder of SPS, I also receive a small quantity of daily airdrop and staking rewards. I also bought a few taking advantage of GLX's current low price. I now have 1,000 plus. I am thinking of adding more in the coming days. My target is to reach 10,000.

!PGM

!CTP

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