I've been slowly growing my GLX stake and trying to take advantage of the higher APR that it offers. At the time of writing, I have increased my total stake from 11K to 15K and I'm earning a lot more from this decision.
I'm guessing that the reason there's not been a crazy rush for GLX tokens is that the token is relatively new around here. I also think it is because the actual product hasn't been brought to life, so there's understandably some hesitation to pull the trigger.
I am not one of those with doubts though. I already know the track record of the team behind the project, so there's really no reason to fear.
Right now, I think everyone should already know this but GLX is the governance token of the Genesis league Sports platform. The token will have utility in all the sports-themed games that are in development in the platform.
The team behind GLX project is also the same team behind Splinterlands and I don't need to tell you how well that is going these days. So, despite the fact that the actual game hasn't been fully deployed, it is safe to say that holding the token is not really a risk.
In fact, the most significant risk would be to not hold any GLX, GLGT or affiliated asset to the game. The way I see it, this project is destined for big things and the release of the game will be nothing short of explosive.
Trading Tokens
The Genesis League Sports platform naturally takes some aspects of Splinterlands. Most of the tokens in GLS could be traced to a Splinterlands counterpart.
For example, we have GLX token that can be likened to SPS token and we have GLGT that can be likened to vouchers. Recently, GLUSD was introduced as a stablecoin in the game that will be used for purchases and in some way, we could liken it to DEC.
Further clicking around, also showed that there is also GLS credits that mirror Splinterlands credits. If you log in to Genesis League Soccer, you will see all the related tokens.
Prior to the recent upgrade, we couldn't trade GLGT but after weeks of farming, we can now transfer GLGT tokens. At the time of writing, each token trades at around 11 cents per token which somewhat mirrors vouchers in the same way GLX mirrors SPS.
Staking GLX earns you more GLX and GLGT in the same way staking SPS earns you vouchers and more SPS. At the time of writing, GLX offers better rewards for staking, so I decided to pull out some of my SPS and move it over to GLX.
Interestingly, GLX is also trading slightly higher than SPS but it is in the fourth decimal place, so it is quite insignificant. In any case, it proves that it might be time to take a closer look at the token now that it is cheap.
I believe that we've seen the back of the dark days and barring another cataclysmic event, we should be on course for a healthy bull run that will almost certainly pump GLX token. I believe hoping for 30 cents is not too optimistic in the grand scheme of things, since we've actually had the token trading at that level before.
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