Before we get into this, I would like to start by saying that this is by no means financial advice, because I'm not a financial advisor, this is just me fooling around in the #crypto space, learning, investing and hoping to create some profits...
As I mentioned in my post yesterday on the Pryzm Testnet, I'd do a follow-up post if I got some more information on the topic, so this is going to be part 2. If you haven' t read my post and you are curious to know what all the fuzz is about, just click the link below...
Pryzm StakeDrop
After I had been fooling around ont the Pryzm Testnet for a while, still not getting much to work properly, I decided to do a little more research on the Pryzm project and the airdrop....still, it's unsure if there ever will be an airdrop...
I searched the internet, and saw some videos on Youtube and by doing that, I came across something called a StakeDrop (still an airdrop noob..😀).
It turns out that if you stake and delegate ATOM(Cosmos) to a specific validator on the Cosmos Hub, then you are supposedly guaranteed some Pryzm tokens in the airdrop, a bigger portion than by just doing transactions on the testnet. So I decided to give it a try, and invest a very small amount in this project.
Screenshot from my Keplr DashbordI was actually kind of surprised to see how easy this proces was, I don't know what I had expected but something harder, and maybe more technical than this.
5.74 ATOM was staked and delegated to the PRYZM StakeDrop validator. Now I'll just have to cross my fingers, and wait to see if this airdrop will ever become a reality, and I'll be eglible to get some tokens airdropped..😆 Well, at least there is a 14.32 % staking APR on the ATOM tokens, and after the validator has taken its commissions, the APR will be around 13.4 %, if the airdrop never becomes a reality...
This whole proces actually made me kind of curious, the Cosmos ecosystem is pretty interesting, especially for a guy like me, who is always on the lookout for investments that pays out passive returns.
In the next period of time I will try to invest some more in the ecosystem, other tokens and so on, because I like the decent passive returns that I can get here.
Is anyone in here invested in the Cosmos ecosystem? If so, I would like hear your ideas and tips🙂
Maybe one day I do another post about investing in this ecosystem....
Well, that was what i wanted to share with you today... Hope that you enjoyed...
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