Staking All My $WAXP Tokens - Compounding $WAX Rewards
Hey All,
The Worldwide Asset Exchange, is also known as WAX and has emerged as a popular blockchain for non-fungible tokens (NFTs). Its been a while that I didn't touch my $WAXP rewards. Today, all of a sudden I decided to glance over to my WAX Wallet and check on the $WAXP reward status. And I had like 42+ $WAX tokens ready to be claimed. At current price of $WAXP which is $0.087+ this amount to $3.65+ as rewards for staking 10.5K+ $WAXP tokens.
Staking Rewards Summary Chart...
Here is a quick snippet to my $WAXP staking reward chart taken from $WAXP Staking Rewards website. Based on the above graph my total invest which $900+ [10253 $WAXP] approx. in $WAXP staked with an APR of 4.54% is going to Yield me close to $41 monthly considering the $WAXP reward tokens are restaked/compounded.
This is not the first time that I have invested in $WAXP tokens. I guess its been a Year now that I invested in $WAXP tokens and since then had been staking all the rewards. The plan is to continue to build my stake here and keep accumulating $WAXP tokens as much as I can.
So here we go staked all the $WAXP rewards and I still have 345+ liquid $WAXP that I plan to keep liquid for now. Time to time, I use these liquid $WAXP to buy cheap NFTs here on the WAX Blockchain. Earlier, I did buy out most of the
WAX PINS NFTs. I still HODL 44 more of these PINS. Who know the exact future of these NFTs but no way I am not going to sell them and if opportunity strike buy more NFTs. Right now I am targeting to by
the 1-of-1 #WAXNFT from the popular vBot collection. The prices of these NFTs are like crazy on Atomic Hub Market. The lowest one that I could see is worth $35 approx.
I am not buy that high and will wait for the prices to cool down. But for sure, will buy some of these vbot #NFTs collection. No extra cash would be pumped in here. But, rather I plan to leverage my $WAXP staking rewards. I could even go sell some of my early collection of #WAXNFT and use that money to buy in the new collection of NFTs from vbot collections.
#waxp #wax #nfts #staking #rewards #nftcollection
Image Courtesy:: wallet.wax.io, atomic hub, twitter
Best Regards
Posted Using LeoFinance Beta
It is great when you see a good amount of free tokens you can use to purchase NFTs.
yes, its always good to see your investment grow and open up many possibilities for you. cheers
Posted Using LeoFinance Beta
I find the staking WAXP tokens pretty confusing. First on which resource do you need to stake, second do you need to Vote in order to earn that APR% or how does it work? It is too bad they don't have a clear staking and even DeFi paired with a stablecoin on a cheap fees blockchain.
Posted Using LeoFinance Beta
Yes its confusing at the starting but you get accustomed to it. Better to stake in equal proportion to CPU & NET. Here is my percentages::
You need to vote once and then the staking rewards start showing up. Cheers
Posted Using LeoFinance Beta
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