Staking/Adding Liquidity of Colony Tokens
Few days back, I was exploring through all my assets in HIVE. To my surprise there has been some mysterious discoveries were hidden in my account. I was quite shocked to find some of the tokens which were just lying around and I had no idea about them. I wish some of these tokens were big enough to make me overnight rich lol. But it was time to wake up from the dream and work for living.
Among few tokens I noticed I had few Colony tokens in my Arcade Colony wallet. They were just sitting there idle without doing anything of sorts. Which to be honest literally made me panic for some time as all this time if I had used them in the right way, I would have probably got some sort of results but than on, nothing can be done about the matter.
For those of you, who are not aware of Arcade Colony, here's a brief description regarding the game.
Arcade Colony is a web-based platform where mainstream games can deploy web3 features. Newly created games as well as previously released games can now add tokens, digital collectibles, trading, renting, earning, and governance to their games. Thus, Arcade Colony hosts a series of published games similar to the Epic Gamestore, Apple App Store, Google Playstore, or Steam, but unlike web2 publishers Arcade Colony augments new and existing games into Web3 games. Read More
I was not really sure what should I do with these tokens. Which is why upon getting deep into the roots and seeing what has been doing within the ecosystem, I came up with few conclusions.
- Stake the Colony Tokens and play the game for multiplier rewards
- Sell all the tokens in HIVE-Engine and use the HIVE elsewhere
- Add liquidity in Colony:SwapHive in Tribaldex
According to Hive-Engine, at peak of this month my Colony tokens were worth approximately 330 HIVE. But at present they are worth only mere 66 HIVE. Which is quite a lot of loss to recover. Some impermanent loss in a way lol. Now that I think of it, I do not want to sell my tokens. And definitely not at this price. Also I do not want to leave the game entirely. Which is why I decided not to sell Colony for HIVE. Instead find an alternate route to hold onto these tokens for future use cases.
In adition, moving to the next option of adding liquidity seems much better to me. As this way, my tokens will be working for me and I would not have to worry about my tokens at all. I am aware of the impermanent loss that will occur in my liquidity positions but the tokens that are in my wallet are just sitting idle and doing nothing. Which is why it seemed best for me for the time being. Which is why I decided to convert 25k Colony tokens to Swap:Hive and add 25k Colony tokens into Tribaldex liquidity pools.
 |  |
|---|
This is my Position right now in Tribaldex
As it seems, I already have earned some Colony Tokens as rewards for providing the liquidity in Tribaldex. I would probably accumulate these Colony Tokens from the reward section for the time being. Lets see how far I can go with my Colony Tokens.
Last but not the least, I have 16,163 Colony tokens in my Arcade Colony wallet. I was thinking of letting them stay idle out there just in case. But I thought of staking 10k just in case, if I change my mind and start to the play the game for some additional rewards for staking. They would be sitting there anyways. Why not use them and be a part of the game either way.
Yes, I am aware my contribution is merely nothing. But things will change in the coming days and who knows if we get to see some new changes in the game and developments happening would literally change the course and who knows my tokens would be worth hell a lot more than it is today. So fingers crossed and just keep on going!
Image Source: Tribaldex, Arcade Colony, Hive-Engine
Best regards
Rehan
Want to play & earn from Splinterlands
Join via, My Referral link
