GLX airdrop is Over and now upcoming Change in Staking Reward

Splinterland is a play-to-earn game where we can earn a reward by playing the game but that's not all because we also get the opportunity to earn a reward by holding their tokens. This is applicable for holding SPS as well as GLX which is the governance token for Genesis League. Genesis League is another game by the Splinterlands team. GLS aka Genesis League Sports is the sports game by the splinterlands team and the token distribution was started last year even though the game was not launched. Like SPS they did distribute GLX for the whole year and this was based on how much SPS we have in the staked form in the splinterland game. It's always good to get some free tokens and on top of that, we get the opportunity to earn some nice staking rewards if we hold the token in the game account. We need to deposit the token to be eligible for the reward because keeping liquid does not make us eligible and I have been doing it since the beginning when the reward was significant.

Genesis League Sports is a blockchain-based, play2earn gaming platform and ecosystem specifically designed for sports games and NFTs.

Now the GLX airdrop distribution is over and currently, we earn 58% of APR on the GLX stake and this is such a good amount of rewards that we can get just for keeping the GLX in-game account. The current price for GLX tokens is very low and again it's because of the market impact as well as since the distribution has been ongoing for the entire year and people have booked a lot of profit for these free distributed tokens. It happens in the market because we cannot ask people to hold the token which means anybody can do whatever they want depending upon their belief and preference in the project. I believe it's not a good idea to sell off the tokens because the project has not been launched yet and we do not know what value appreciation we are going to get in future. Again this is subjective and depends on how someone is planning to do this and this is my opinion which I shared.

GLX Stake

Here is my GLX stake and I have got more than 31K tokens in total. I have been accumulating all the tokens that I receive since the beginning of airdrop and initially, the APR was almost 4000% however it was reduced faster and came down to 500% and below. Even though the token price was good in the beginning, later on, it started falling probably it is because people were making some profit in the market which normally happens. I also sold out some tokens in the beginning and bought back when the price was down but I could do it only with a limited quantity and that to just once.

Although the token price is low & I think the APR is pretty good and I also expect that the game is going to grow because the development is ongoing and the team is focused on this. The token value will appreciate and improve in future and this is the reason why investing knock can be a good idea since the APR is also offering a good amount of rewards on this stake.

Change in Staking Reward

There is a change in the reward distribution for staking and this will be implemented in the next three days as you can see in the above snapshot. As for the snapshot, three days are remaining for staking rewards which means it is going to end the reward for GLX holding. I heard some confusion about it so I asked questions in their discord server to figure out what was going to happen after three days. For a moment I thought that this would be replaced by another token however that is not the case because they are going to end the staking reward for GLX. I don't know how things are going to happen in the game because this way it seems that the team is planning to bring some changes to improve the token economy and I would want to see how it going to bring a positive impact on the game as well as the token values.

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I discussed this court server and now things are clarified and easy to understand. As of now, we are getting two tokens out of the GLX stake which includes GLX and GLGT but after three days you will be getting only GLGT with the same rate of distribution. Glx distribution will be stopped and this change will not impact the GLGT distribution which means your rewards are going to be reduced this is done to improve the price scenario for glx as well as GLGT because free distribution is going to end. Now it's up to you if you believe that over time token will be getting better value and this can get you better price value for your holding if you hold for a long.

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I am not going to change my strategy for now and we will see how it goes in the coming days. I know that the token price is very low and some sort of changes are needed to improve the scenario and I hope this plan of change works well for the token economy that the team has decided on and would look forward to seeing some improvement in the market price.

Thank you

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