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Took Part in the $THOR IDO, not sure that was a good idea...

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@revise.leo
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I had some funds kicking around in one of my ETH wallets on MetaMask, they'd been there for ages, not doing very much, so I decided to use some to take part in the ThorSwap IDO.

It ended up being quite an expensive business.... around $500 in fees to...

  • Buy the initial XRUNE
  • Stake the XRUNE of vRune which then allowed me to
  • Stake XRUNE for $THOR

There was a stake-cap of $300 worth of XRUNE per account, and it was almost 200% over subscribed after the 2 hour staking window which means I got just over 2000 $THOR dropped.

And I'm still going to have to pay more GAS to extract the $THOR once I get it dropped.

This means I really need $THOR to go to somewhere around $0.25 to break even, by the time I add in the future GAS I'm going to have to pay.

I went in for this as I didn't want to spend any RUNE in phase two, and I can't see the point of just holding onto ETH doing nothing, so at least I've used it for something.

(I honestly think with these GAS fees and the increasing viability of competitors ETH is just going down HARD at some point soon, it literally has no discrete purpose anymore, my GAS experience yesterday reinforced this.

I am also getting some $THOR dropped having been a liquidity provider, but I've no idea how much or whether it will be sufficient to make it worth claiming given the GAS fees.

All in all I get the feeling I should have just waited and swapped some Rune for $THOR at the next phase of this whole process.

If you want to do that btw, details are in this post here.

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