Finally Bit the Bullet: Provided SPOT Liquidity (USDC/SPOT)

Well, we've all spent some time now complaining about the fact that there's not much we can do with the SPOT we earn here on P0x. It's not at all economical to swap it to another token, given the ETH gas fees. It seems that a lot of people, myself included, are just hoarding SPOT here on P0x in the hopes that one day the tipping token will go the way of STA and be discontinued/auto-converted to ETH. My bet on that is up to over $50 as of this writing:


Of course, the worst case scenario is that it all completely disappears as those "available" tokens aren't technically in my custody yet. It could happen, but I trust the developers here on Publish0x enough to believe that it won't. Anyway, I'm again brought back to the question of "what should I do with my SPOT?" I had withdrawn about $15 worth to one of my wallets, and it's just been sitting there.

I considered minting on the SPOT dApp several months ago but the gas fees were simply too high. Again, recently I looked into this route, and the transaction costs were just way too expensive.

The only other option left was to stake SPOT via providing liquidity.


The deterrent is once again the ETH gas fees. I am faced with this recurring dilemma. If I want to actually do something with my SPOT, there's just no alternative.


I figured "what the hell; all the crypto I will be using for this transaction was earned for free via Publish0x -- USDC, ETH, and SPOT. I might as well put it to use. If anyone ever needs it!" So, adding to the Arrakis vault...brace yourselves...


Behold my monster position! Please excuse the splash you may have felt from my whale-ish addition. Kidding aside, there probably won't be any ROI here...not for a while anyway. But that's fine with me. Like I said, this was all done with free crypto, and I wanted to do something with my SPOT...anything...

So what was the final damage with the ETH gas fees?


More than double the amount that was added to the liquidity pool! Oh well, it's somewhat of an honour to be an early SPOT adopter! Looks like we just cracked 1k hodlers:


SPOT on, or way off base? You can be the judge of my arguably reckless ETH spending.

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RocketEnthusiast Verified Member

dot com boomer - writing mostly on crypto, stocks, entertainment, etc.

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