Posts

Utilizing Wax Dao and exploring Gmfrens

avatar of @infinitytcg
25
Bernard Hong
@infinitytcg
·
0 views
·
2 min read

I stumbled on this at first before my return to hive so I did not know much about this particular project/nft. A few days afterwards when I came back to hive I had noticed that @l337m45732 made a post on this and I vaguely recalled his username from before so I decided why not lets try and see. @gmfrens I believe is the account of the project.

At that time I decided to buy some GM about 3 to be exact which cost me probably around 63-65 wax at that time for all 3. I've so far been able to mine about a little over half of what I put in back already.

The circled area is roughly what I bought them at and now if you were to buy the same 3 miners it would cost you 72 wax (probably a bit more as more you buy you will face higher slippage. Sure you can wait for the 1.5 HBD but then you maybe missing out on all that mining time in between.

With a lot of the projects on https://waxdao.io/ I probably recommend to enter and then pull returns to lower your investment in on them unless you are very familiar with the project or the direction of where it is going, but as far as this one is concerned I find it interesting that it is their 2nd set of miners sold and that none are for sale currently on the market in atomic hub so I'll probably be looking to add more into my position after learning more about the project.

Sometimes we have to try to jump in head first at things we don't understand so that we can learn more and see which projects or communities is right for us. If you have any questions to ask feel free to message me and I'll try to answer them to the best of my abiltiies.

I have probably over 1k nft's staked into waxdao if this is a subject of interest for people I may decide to do a breakdown post, but not sure about that yet. Because as these pools work the more nft's staked the less you will end up making overall... but maybe if these communities are strong and supportive we can all make more and grow together. What are some projects/miners that you like to invest in whether on hive/wax?