Layers 2 tokens Stake em? Sell em? or Pool em?
Goooood afternoon buzzers! It's a buzzing beautiful Monday, even if it is drizzly and overcast here! Today, like most days, I had a look through my wallet and was met with the usual question. What to do with all those layer 2 tokens?
On a happy side note, I did notice this month I've earned over $1 in HBD interest! That's insane! 20% APR?!? Time to stack as much in to there as possible!
So, layer 2 tokens? Stake them? Sell them? Or Pool them? Of course, as a sloth, more often than not I ignore them! One of these days I'll find the buzz to complete the task!
I have done a post about Layer 2 tokens and outpost before you can read it here if you'd like - link
*Buzz sloth buzz! Well, I've looked at this page about 5 times, went to look at my wallet/gadgets to grab some screenshots and get this article rolling, only to realise 10mins later I've been totally distracted by something else and forgot what I was supposed to be doing! *
So, Layer 2 tokens, what do we do with them?
I've just used 'Hive Gadgets' to stake some, and sell some in a couple of clicks! Great tool for a sloth!
But, my wallet is still full of random tokens, most earned through posting or Liquidity pools, many 'shitcoins*' that have no real use nor value. And let's not even get started on liquidity pools and their rewards! That's a whole other world to uncover!
Should I just throw them all to the market with 'lowest value' sales and hope they go? Give the trade bots a little action as they balance between the pools and us lazy people auto-selling! Or should I find a liquidity pool that I can squeeze them into? What about all those impermanent losses? Maybe add them back to the reward pool they came from or send to @null and burn them out of existence!
Should I stake all those that are stakeable? Or only stake those I wish to involve myself within their communities and use the token to curate content?
On Ecency there's also the option to 'claim' unclaimed tokens?!? What even are these? Where do they come from?!?!
I must admit, I love/hate the Ecency wallet page for layer 2 tokens. Love the graphs, whilst hating the graphs for taking up too much room! Just can't keep a sloth happy!
Would be nice to have a tab to show more info instead of the graphs, delegations/staked balances etc.
With all this to consider, I suppose I could just stick my head in the sand and hope It goes away? Hive and Hive-engine can be so daunting, even for those who've slothed around for some time now! There's always something new, something changing, some new pool/outposts/token!??!
Someone help a sloth out before his head buzzes off!
Sloth out!
While it is at 20% people should be bombing in there!
I wish I had some more money to throw at it! Slowly growing my savings bank!
I have 250 HBD now, but Mrs T has her eyes on it for next month on holiday lol
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It is really hard to tell what is going on with some layer 2 tokens. Its even hard to tell if some are old and defunct and no longer supported. I do try to stake and delegate what I can to generate more income. However, there are some you can stake, and it provides no further benefit/use. All very confusing.
Yeah the sheer number is crazy! I’m in a similar boat, staking most, not sure what half of them do and whether there’s any development ongoing. I see a lot of people just sell them as soon as they get them (even some unstaking to sell).
I think we should be supporting communities with some commodity but trying to keep tabs on them all is never ending.