Some time ago, I have sold NFT's on the WAX blockchain and since then, I was always looking for a way to get a return on my WAX tokens.
On WAX, there aren't that many opportunities to stake tokens and get a good return. You can stake wax on the blockchain and you get probably around 4.5% APR which is nice but compared to other blockchains, it's not that much.
You can also stake tokens in the liquidity pools on alcor exchange but it's kind of difficult to define your APR there.
I have found a way to stake my tokens that give me more than 30% APR on my WAX tokens that I would like to share with you.
How to get more than 30% APR on you WAX tokens
To do that you need to create a Splinterlands account. You don't need to upgrade the account. A free account works.
The idea is very simple:
After creating an account on Splinterlands, link your WAX wallet with your Splitnerlands account.
Buy Splinterlands Chaos Legion packs on Atomichub as cheaply as possible. Preferably for less than 4$ per pack which is the sales price on Splinterlands.
Every pack that you own will give you 300 points for the daily SPS airdrop in Splinterlands. According to Splintercards with 10 packs, you will get 0.3 SPS daily payout. At today's price, this is about 0.04$. If you paid 40$ for 10 packs, this is an APR of around 36.5%!
Login into your Splinterlands account and claim your airdrops regularly.
You can withdraw your SPS tokens to Hive-Engine (you will need a Hive account for that) to BSC or even to Ethereum.
In my opinion, the best option is to withdraw them to Hive-Engine.
Send your earnings back to WAX (hive account is necessary)
After withdrawing your SPS tokens to Hive-Engine (which is a secondary layer of the Hive blockchain), go to tribaldex and there is a liquidity pool where you can swap SPS directly for Swap.Wax. Swap.wax is a wrapped version of wax on this secondary Hive layer. You can then withdraw your Swap.wax as WAX tokens directly from Triabeldex to your wax account. There will soon be a little 0.25% fee for swapping the tokens and a 1% fee to withdraw to WAX.
Selling your packs
There are 15 million packs available in this series and after a couple of days of the general sale, almost 7 million packs are already sold. The chances are that in a couple of weeks there won't be any packs available on Splinterland itself and from then on, the prices of these packs could rise. You can always sell these packs on atomichub or on hive-engine. You can also open the packs in the game and sell the individual cards on the splinterlands market.
Overall I believe it's a great way to get better returns with WAX and there is a nice side effect with the packs that you have purchased because their price will probably stay quite stable in terms of USD value. So even if WAXP goes down in price, you keep your value with these packs.
Just be aware that this airdrop will be going on only for about 185 days and the return will probably go a bit down over time.
Want to start to play? Join my referral program!
Join Splinterlands using this link, buy the Summoner Spellbook and I will send you 200 DEC tokens
Join Rising Star using this link, make 100 missions and I will send you 1000 Starbits
This action is only valid for people who actually are my referrals.
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