Genesis League Sports - Proof of progress by hitting the milestone of 20,000 GLX staked

By Behiver | behiver | 5 Apr 2023

Genesis League Sports platform is making bigger steps in development and will start seeing more getting released on the Genesis League Goals which tackles the soccer angle. The first thing to come to life would be the packs opening, while the market for cards will be launched later on. And to tell you the truth I am not in a hurry to sell anything at the moment as the game is just starting and I need all my cards to combine in order to be able to compete better. But while that happens, I continued to stake all my GLX gained from SPS staking, GLX staking and packs staking. All these channels of tokens revenue helped me to reach a milestone that I've set my eyes on for quite a bit, the 20,000 GLX staked.

As a short reminder, my goals for Genesis League Sports in terms of the accumulation of GLX governance tokens are as follows.

1st milestone: 1,000 GLX (Completed)
2nd milestone: 2,000 GLX (Completed)
3rd milestone: 5,000 GLX (Completed)
4th milestone: 10,000 GLX (Completed)
5th milestone: 20,000 GLX (Completed!!!)
6th milestone: 50,000 GLX (To start, but significant increase from 20k, long term)
7th milestone: 100,000 GLX

My plan is simple and I am staking the gained GLX tokens each day. This way they help me with the compounding and increase the returns pretty fast. I know there are tools that help with hourly claiming or so, but for me doing this action once a day it is enough. So let's see in action the last staking that I've did which pushed me over the 20,000 GLX staked threshold.

Proof of progress

My previous threshold was 10,000 GLX and it was reached on 10th of February 2023. Considering that now we are in April, reaching to 20,000 GLX (to be more precise 20,165.021 GLX staked) took more than 1 month and a half if not even towards the 2 month mark. It was a rather slow process and probably it will get slower as the next threshold of 50k implies a bigger gap. In monetary terms at a market price for GLX of $0.016 (more than half from what it was on previous report where we had $0.0335) that would translate into a total value of the tokens of $323.37. While the price took a big dump, the staking succeeded to balance the $ amount and kept it quite the same (which is not encouraging for now). Still as we might see new releases in the game which might great some hype and maybe more users to onboard, hopefully also the GLX price will start recouping its value or at least stagnate at current market valuation. My happy price would be $0.10 and I still have hopes for that.

Next goals

My next milestone is to reach 50,000 GLX tokens staked and if getting 10k GLX tokens took me around 1.5-2 months, probably getting to the next threshold will take around 6 months. I am not in a hurry as I have anyhow a good stash put aside, but while the game is getting closer to new use cases launches and gameplay I might need to consume GLX as well. I have a long term strategy to get to 100,000 GLX staked and if the price doesn't x100 or something spectacular, I will simply have patience and build up towards that goal. Let's not forget that GLX is not an asset only for the soccer angle, but for all the sports that will come to the platform. So if everything goes well, we might have some pleasant surprises in the future.