Exciting news for those of us following the progress of the upcoming blockchain game Genesis League Goals! Phase 2 of the pack sale has started and it also brought some big updates on the tokenomics side. Let's have a look,
What's new?
Packs cost $10 and can be bought using either CREDITS or GLUSD.
A pack can be bought at $5 & 1 GLGT token.
GLUSD and GLGT have been bridged to Hive-Engine.
In phase 2 a FRANCHISE LICENSE is needed to buy packs. It's similar to the Spellbook used in Splinterlands to get to enjoy all the rewards. It will cost $10 but if you took part in pre-sale phase 1, you have been airdropped a license for free - even if you bought just one pack.
What I also find interesting is that new players outside the Hive ecosystem will have a Hive account made for them when purchasing a franchise license.
GLUSD
Similar to DEC in Splinterlands, GLUSD can be used to buy packs instead of using CREDITS to do that. GLUSD is supposed to be equivalent to one $. You can get GLUSD by burning GLX tokens with a fee of 2.5%. GLUSD is also available on Hive-Engine.
Even though the supply of GLX is high I think introducing GLUSD and that way a new use case for GLX, will eventually push GLX price higher.
This is already seen in the GLX price if we look at the January low of 0.0493 HIVE and today's last price of 0.0761 HIVE.
GLGT
The big question is are people going to buy GLGT to buy packs? Those of us who have been staking GLX should probably have enough GLGT so in other words, is there going to be outside demand for packs and therefore demand for GLGT.
With very high demand, the GLGT price could potentially be close to $5 because anything under that would still be a discount. However, I doubt that we reach those heights but who knows?
I think GLGT is somewhat comparable to VOUCHERs in Splinterlands and there will probably be many use cases for it in the future so stacking now would be a solid option.
What's next?
Validator license sale is planned to start at the end of Q1. That will probably be financially out of my reach but I'll be following closely the effect this has on GLG asset prices.
- GLUSD will be used to buy a validator license and GLGT is used to get a discount.
- Players with licenses will be earning GLX and GLGT.
My plans for GLX
As mentioned, GLX price has been rising a bit in February and I sold some staking earnings with the idea of getting some of the initial investment out.
However, with the recent update, I'm back to staking as I believe there's still room for the GLX price to increase. Besides, APR is still very lucrative at 192%.
By looking at the roadmap we can see the pack opening getting closer as well as the actual game launch. These will probably have a huge effect on GLG asset prices so staking is the way for me at the moment.
Conclusion
Big thanks to the team for pushing these updates on time! Got my license and the bridges and new functions seem to run smoothly. With many other projects, I've learned that this is rarely the case when releasing many new things at the same time - so thanks again! Feeling bullish here.
Note that this is not financial advice.
Thumbnail image made with Canva.
Other images are from Genesis League Goals.
Posted Using LeoFinance Beta
Awesome update, @brando28
I firmly believe in GLG, and I anticipate a nice reward for early adopters.
Thanks for sharing this information. I appreciate it.
!CTP
!ALIVE
Posted Using LeoFinance Beta
@brando28! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @beststart. (3/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
You're welcome!
I think so too. Once there will be use cases for assets, cards start selling on the market and people start spending GLX creating demand I believe we are in for a treat.
!CTP
!PIZZA
I second your assessment and feel that anyone not staking right now is missing a trick. I picked up a little bit yesterday, and plan to pick up some more GLX today. Good times are coming!
Posted Using LeoFinance Beta
Exactly! I'm timing my next move near the game launch, now staking like crazy!
this is so dope!
Yeah! They're definitely doing their part helping new users onboard Hive.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
Thank you very much! Appreciate it.
The rewards earned on this comment will go directly to the people( @brando28 ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Congratulations @brando28! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next payout target is 2000 HP.
The unit is Hive Power equivalent because post and comment rewards can be split into HP and HBD
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Check out our last posts:
I gifted $PIZZA slices here:
@brando28(2/5) tipped @beststart (x1)
Learn more at https://hive.pizza!