Re-Analyzing My Decision on Genesis League Sports/Goals

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I saw yesterday in Zoltan's goals post (@ph1102) that he set GLX as one of his few public Hive goals for 2023.

Since I am benefitting from a significant GLX airdrop and I was very active early on claiming and staking, before there was publicly available automation for that, I could have been in his shoes aiming for a sizeable stake in GLX.

What I did instead, was to sell a big portion of it. Even now, I keep selling regularly a smaller portion that is on continuous power down. The profits went into stables, HIVE, and the Splinterlands ecosystem (the latter especially now that the GLX price dropped).

After reading his post and our exchange of replies I analyzed again if I had taken the best decision, from my point of view.

I still don't think I am wrong, but that may differ for you if you have different goals or planned it differently.

What was and still is my analysis?

The Pros:

  • new platform (GLS), fresh start (great for someone who feels disadvantaged for starting later in Splinterlands)
  • improved tokenomics compared to SPS
  • Splinterlands learned from mistakes already made with the existing platform

The Cons (for me):

  • new platform, doesn't guarantee success (higher expectations, less patience from the start - two things that are radically different than the Splinterlands beginnings - the team grew and evolved too, of course)
  • full in or out (if you are not full in, it's not worth it)

Starting from these pros and cons, I judged my situation.

I am an early adopter of Splinterlands and quite heavily invested in it, without being a whale.

Yes, my SPS stake guarantees me a good chunk of GLX and GLGT airdropped daily, but that is NOT enough.

The GLX rewards, like SPS rewards, will come from many sources.

Two of them are active already:

  • staking rewards
  • rewards for holding GLG packs

Once the gameplay starts for GLG, there will be gaming rewards too.

I don't have any GLG packs. Without them, there are no rewards for holding, obviously, and will be no rewards for playing, unless I rent cards out, which I never very rarely do.

So, even if I would have pushed hard to grow my GLX stake early on and would continue to grow it, the further the platform develops, the more disadvantaged I would become compared to people using it fully.

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Source

Why didn't I get in fully then? The answer is simple: I don't have the funds to be competitive in everything, not even in everything Splinterlands launches.

I will continue to slowly grow the GLX stake while the price is low because there is a good chance they will be valued higher at least for a while when GLG is launched and on other occasions. But I wouldn't be competitive on the new platform, that's why I consolidate back to Splinterlands, where I am competitive.

I may have been passed by a huge opportunity by doing that if GLG - and implicitly GLS - will be highly successful. But every opportunity has a cost. And this one had a too higher cost for me.

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Thanks for the mention! This is a nice analysis of your decision to do, or not to do GLX... 😃

new platform (GLS), fresh start (great for someone who feels disadvantaged for starting later in Splinterlands)

Well, that was one of my main reasons to go into GLX... I will not be a whale in it, but I will try to accumulate as many as possible tokens at the beginning and take my position... My first idea was to have 0.10% of all staked GLX tokens (at least at the beginning), but it will be hard to maintain that level as time passes by...

improved tokenomics compared to SPS

That is another very important thing as there are 1bn GLX tokens less than SPS tokens, and there is a huge use case for converting tokens into GLUSD... If they don't create ANY of GLUSD outside the conversion, there is no question about where the price of GLX will go...

Why didn't I get in fully then? The answer is simple: I don't have the funds to be competitive in everything, not even in everything Splinterlands launches.

This is a tricky question... What means to be competitive in Splinterlands? To play in the Champion league? To be in the Top 10 in the rankings? To have the best guild?

I don't plan to be the best in gaming in any of the games... Nor SL, nor GLS...
My general idea is to be "exposed" to the future games in the ecosystem and profit from them... If we count that as "being competitive", I think that you can be one of the best in Splinterlands by just doing staking, liquidity providing, and a bit of renting.... without playing the game at all... And that's a fully developed game!

Of course, I do have my concerns about the GLX and the whole new project, and one of the biggest is those 1.4bn tokens reserved for future partnerships... But, until then, I will try to get out some profits and try to stay "competitive" with my stake...

In conclusion, I have investment googles on GLX more than gaming view...

Sorry about the long comment... 😀

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You have a point about what being competitive really means. I measure it by the level of rewards. And I'm not really competitive at the top, there are others doing much better than I am. But on a scale, I am doing quite well.

What I really meant was that if you don't get involved in most aspects of the platform, your stake gets diluted in time. And that includes GLG and all the future games they launch on the platform. Personally, I couldn't keep up with both Splinterlands and GLS at a good enough level.

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Personally, I couldn't keep up with both Splinterlands and GLS at a good enough level.

Tbh, I have failed in trying to do ALL things in Splinterlands... And, I think that was the best decision that I made... lol... It's exactly what you said, the stake gets diluted, and not just stake, but investment too...

We can take SL as an example... There are so many levels of involvement in the game and there is no chance to be everywhere... and being everywhere doesn't mean that you are on top of things... Is it better to have a chunk of SPS tokens or DEC tokens? For a long term or a short term? Licenses? APR on staking or LP-ing?

In any case... Nobody knows what will happen in any of these games that we have listed... Even SL isn't "spared" of uncertainty... and I can admit that the GLX playout is a kind of a bet more than an investment... and I don't like to bet... lol...

and just one thing more... I didn't invest a lot into the GLX, but I did stake multiple times per day... There were not that many people on "my side" as the majority is selling tokens and that's a big plus for accumulation... Not too many eyes on the project at this moment :)

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Yes, there are many things in the Splinterlands economy and I don't get involved with all of them either. Some of them I wish I had more funds to participate in, but I don't feel the need to be everywhere, nor will it be very productive.

Not too many eyes on the project at this moment :)

I believe those with the means already have sizeable stakes in GLX (even some who were not interested in the project at the beginning).

I am almost sure you will hit your GLX goal too. :) And I hope GLS/GLG will be a success, so you can enjoy the fruits of your investment and commitment, even if that won't mean as much to me (directly). For the ecosystem, a GLS/GLG success would be great, both for Splinterlands and for Hive.

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Thanks, man... I hope it will be at least as Splinterlands...

For the ecosystem, a GLS/GLG success would be great, both for Splinterlands and for Hive.

We need more big projects like SL or GLS on HIVE... If they are successful, we can expect to see HIVE over $1... If not, I don't see that it can go far up...

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Thanks for sharing your thought Adrian. I am hoping to build my stake there, but it is starting from a low point. It would be a difficult choice if I was getting a larger airdrop.

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At this price, if your plan is to build a position, then the larger the airdrop the better. If the price was much higher you may have been in doubt about what to do: sell or compound. I only still sell some GLX because they go to Splinterlands in assets that are equally devalued, or maybe more.

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You are right, Adrian.
Every decision has its cost.

I have invested heavily in GLX and am currently taking my daily rewards from my stake and using it to replace my investment of HBD.
At my current rate of earnings, it will take me another 80 days or so to pay the savings back.

As you said, though, it is a high risk, but I believe it will be successful.

!CTP
!ALIVE

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Good for you, John! Do you have a plan with your GLX?

It's interesting that you probably don't benefit from a significant airdrop but chose to buy the GLX and now repay the investment from the rewards and afterwards have the tokens free and still produce rewards for you.

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That is what I am hoping for.
I plan on leaving my stake total intact.

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Full in or out is a real thing and makes a difference when it comes to earning. I am playing some blockchain games without investing and I am evolving slowly and without making any dent in the revenue streams. I guess it seems like a loss of time and focus, so you either go big or go home.

Posted Using LeoFinance Beta

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That was how I looked at things too. If we compare it with playing Splinterlands (although it doesn't reduce to only that), it's a huge difference between league rewards. And usually, you need an adequate investment to play in higher leagues.

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Thanks for the share Adrian. I still there is still a big uncertainty to GLS, especially it is based on MLS. If it included more leagues like Sorare did, maybe there will be more certainty to it.

Posted Using LeoFinance Beta

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The challenge is to attract players from the outside. Because I'm sure many players from the Splinterlands ecosystem or even crypto, more broadly, will be interested in the game, at least. But the expectations will be high.

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You 100% made the right decision when you sold first at good prices.

Now is definitely not the time to go in. I think prices will go down, just like SPS, until we find the bottom. So there will still be time to enter at good prices. I think the miracle will not happen...

!invest_vote
!PIZZA

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It was a tough call for sure. At the time I had my goals with SPS and maxing out Chaos Legion, and for me going in meant buying packs. A small or average-size GLX stash without cards to play with or rent out and the rewards that came from just holding the packs before the game begins isn't enough.

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I'm with you on this. Given the SPS experience, it was better to sell of all at the start and come back in now. With 3 days of selling SPS at the start, I can buy my whole stake now.

Posted Using LeoFinance Beta

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Well, I didn't sell it all at the beginning. Although that would have been the best. But I sold a good chunk when it was still at a high price.

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Will you buy back, so that you have the profit and the same amount of tokens?

Posted Using LeoFinance Beta

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I already have more tokens than I had at the beginning due to the airdrop and the staking rewards. If you are asking if I'll buy back the tokens I sold at this price, then the answer is no. That requires more funds and I'm still thinking about how to come up with the DEC (DEC-B) for the 'land potions' in time without using stables, which have a different purpose.

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I am doing a similar decision as well because there are only so many funds available. I didn't buy any packs and I honestly don't think I will be playing GLS either.

Posted Using LeoFinance Beta

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Yeah, I already dedicate too much time to gaming. And that takes away from the time I need for other things I want to do.

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Thanks @gadrian
Your information is very informative, and I am learning more all the time. I have to read things over a few times when I can't can't focus. I will take a look at Zolton's goals for 2023.
Barb 😊
!BBH
!CTP
!ALIVE

Posted Using LeoFinance Beta

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Sure, Barb. Take your time! And taking a look at Zoltan's goals is a good idea. I was initially inspired to have my Hive goals by reading his goals posts.

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"Choose your battle," they say. 😅

!PIZZA

!CTP

Posted Using LeoFinance Beta

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Exactly. You can't be everywhere.

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It looks like your "battle" right now is trying to have time for all your daily activities, since you haven't been on Hive for almost 2 whole days. 😅

Anyway, please take your time doing what's more important. 🤗

!PIZZA

!CTP

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That even though I am focusing on what I am doing, I still miss something. 😅

!CTP

!PIZZA

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Be careful about distraction trying to take away your focus from whatever you are doing. 😅

!CTP

!LOLZ

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That's the problem with multi-tasking.

!LOLZ

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Thanks for being a supporter of The LOLZ Project.

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That means you should avoid multitasking to prevent distraction from influencing you. 🤣

!LOLZ !CTP

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You can only do that if you have the say on the tasks assigned to you. But if those tasks are given to you by your superior, your only choice is either to follow or to resign.

!LOLZ

!CTP

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I didn't know that multitasking is a part of your work description. 🤯 Looks like you have become serious again while typing your comment! 😅

!LOLZ

!CTP

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Is it because of the word "resign"?

!LOLZ

!CTP

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Looks like you know why your comment looked serious! 😅 It seems that you aren't that close with your superiors, especially if you can't decline a task and suggest to do another task from one that you have (much) difficulty with. 🤯

Anyway, this conversation under another author's post is already 8 layers deep. 😅

!LOLZ

!CTP

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Not really. It's just part of my work philosophy that whoever is sitting on top of me, I will just try my best to support him as long as the demands are realistic, just, and within my capacity.

!PIZZA

!CTP

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That still doesn't explain why your previous comments were serious, especially with your use of the word "resign". 😅

!LOLZ

!CTP

Anyway, our conversation here on another author's post is already 9 layers deep. 😅

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It is good to relook at your decisions after some time has passed and see if you still think you made the correct decision. I am building a GLX position as I missed SPS completely. I have my 100 packs and will determine if I wish to play after I see the Beta released and determine if I think it is fun. There looks to be lots coming down the pipeline in terms of new games in the next 6 months. We can't do it all so will have to pick and choose.
!PIZZA

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That's a good position to start from, with 100 packs. And if you missed SPS, I totally understand why you wanted in on this one from the start.

I hope the game will be entertaining both for you guys who will be playing it and for us who won't because that might reflect well on the base Splinterlands platform and on Hive.

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(Edited)

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