Genesis League Sports - Proof of progress by hitting the milestone of 20,000 GLX staked
Genesis League Sports platform is making bigger steps in development and will start seeing more getting released on the Genesis League Goals which tackles the soccer angle. The first thing to come to life would be the packs opening, while the market for cards will be launched later on. And to tell you the truth I am not in a hurry to sell anything at the moment as the game is just starting and I need all my cards to combine in order to be able to compete better. But while that happens, I continued to stake all my GLX gained from SPS staking, GLX staking and packs staking. All these channels of tokens revenue helped me to reach a milestone that I've set my eyes on for quite a bit, the 20,000 GLX staked.
As a short reminder, my goals for Genesis League Sports in terms of the accumulation of GLX governance tokens are as follows.
- 1st milestone: 1,000 GLX (Completed)
- 2nd milestone: 2,000 GLX (Completed)
- 3rd milestone: 5,000 GLX (Completed)
- 4th milestone: 10,000 GLX (Completed)
- 5th milestone: 20,000 GLX (Completed!!!)
- 6th milestone: 50,000 GLX (To start, but significant increase from 20k, long term)
- 7th milestone: 100,000 GLX
My plan is simple and I am staking the gained GLX tokens each day. This way they help me with the compounding and increase the returns pretty fast. I know there are tools that help with hourly claiming or so, but for me doing this action once a day it is enough. So let's see in action the last staking that I've did which pushed me over the 20,000 GLX staked threshold.
Proof of progress
My previous threshold was 10,000 GLX and it was reached on 10th of February 2023. Considering that now we are in April, reaching to 20,000 GLX (to be more precise 20,165.021 GLX staked) took more than 1 month and a half if not even towards the 2 month mark. It was a rather slow process and probably it will get slower as the next threshold of 50k implies a bigger gap. In monetary terms at a market price for GLX of $0.016 (more than half from what it was on previous report where we had $0.0335) that would translate into a total value of the tokens of $323.37. While the price took a big dump, the staking succeeded to balance the $ amount and kept it quite the same (which is not encouraging for now). Still as we might see new releases in the game which might great some hype and maybe more users to onboard, hopefully also the GLX price will start recouping its value or at least stagnate at current market valuation. My happy price would be $0.10 and I still have hopes for that.
Next goals
My next milestone is to reach 50,000 GLX tokens staked and if getting 10k GLX tokens took me around 1.5-2 months, probably getting to the next threshold will take around 6 months. I am not in a hurry as I have anyhow a good stash put aside, but while the game is getting closer to new use cases launches and gameplay I might need to consume GLX as well. I have a long term strategy to get to 100,000 GLX staked and if the price doesn't x100 or something spectacular, I will simply have patience and build up towards that goal. Let's not forget that GLX is not an asset only for the soccer angle, but for all the sports that will come to the platform. So if everything goes well, we might have some pleasant surprises in the future.
Come and join a new sports metaverse and start your journey on the Genesis League Goals!
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I dont know if staking or selling the Tokens is the better choice
I think we are close to the game launch, at least packs opening and so. Thus I hope we will see some rejuvenation in the $GLX price value as well. 😉
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Congratulations, this is astonishing. There's nothing as beautiful as passive income. I know the prices are currently low, but I know the project will do qell in the long run
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It is not really income, as the token is highly volatile and has no usecase yet. It is in fact speculation, not income, so actually the opposite!
But I think it is worthwhile given where we are with this game.
Yeah, it's pure speculation and no use case yet, I'm thinking the when the game launches, it'll give it some traction.
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Nice dude, thats some good progress. I have just passed the 4k staked amount.
Are you also staking GMLSPAs? They are cheap now on the H-E.
Yes, I am staking all my GMLSPA as well. Maybe I should go on a buying spree as well as indeed on HE prices are quite appealing.
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hey, mr. chessmaster. good to know, you are in GLS, too. do you know anything more than faq about GLGT. my speculation would be and will be on that, but i can't find anything about it, only the very basic faq info.
thx.
No, I have no insider info, I am just strongly convinced that the packs at 2,5$ on the H-E are a steal. Now they went up to 3$ already. Once pack opening and market available I guess they go up further.
yes, i am buying the packs and GLGT, too. Unfortunately, not that much I wish, but at least 1 more month left.
Everything I planned to spend on hive, I will spend on the packs and GLGT. Both are bargain, and especially about GLGT, nobody take attention.
https://whitepaper.genesisleaguesports.com/tokenomics/genesis-league-game-time-glgt-token
i asked many GLX stakers, no answer, but based on this short info, it will be very important in-game asset. Probably a necessary item for high earning tournaments registration.
they write, the 1st (this) season packs, cards will earn more later, if new seasons packs will be released in every year, so I think the same, worth to buy packs under 5$.
About GLGT, maybe I am wrong, but it has the potential for short term speculation + its definitely a must for playing the game. I dont see any in GLX, max very long, 5years+ investment.
would be very good to figure out, is there a max supply in GLGT, if so how much, how can you earn later on, if this pre-launch glx staking is over.
spent long hours to find it out. nothing... :) any idea where, who???
No clue either, maybe they didn´t figure it out yet, the game mechanics are still being worked out.
I hope it gets to your dream price. Also, this is the first time I am hearing about this.
Congratulations to you
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wow. 20k is huge. congratulations.
Glad to know you are not planning on selling anything of now. because I am regretting selling some of my tokens at the start of the project. I don't want you to regret like me and I wish you best of luck.
I am asking you, too. Do you have any information regarding GLGT? yes, i read faq, but it provides almost zero information. anybody, who post about it here on Hive? or any official/unofficial other soc media account?
thx