Hey All,
With EVMOS token price taking a beating and currently trading below $2. I decided not make a shift in my strategy and currently I am staking of the daily rewards at the moment. As you can see from the above image, I have 523+ EVMOS staked and this get me close to 6 EVMOS tokens daily for staking.
The current EVMOS staking APR is 400% and this has been decreasing day by day. At the time, when I had started staking my EVMOS tokens I used to get more than 800%. Anyways that's past and no regrets here. As, all the tokens that I was able to accumulate is via the Airdrop and staking the tokens.
I started with somewhere around 250+ EVMOS tokens Airdropped and now you can see my balance I reached to 500+ tokens and continues to grow daily as I stake all my daily rewards.
There was a point in between, when the price of EVMOS token was more than $2.5 dollars, I was exchanging the daily rewards with $CMDX tokens. But with the recent drama with the $CMDX on wash trading, this led me to rethink and hence stopped buying $CMDX tokens and hence instead I am restaking my daily EVMOS rewards.
EVMOS daily rewards got me somewhere around 4K+ $CMDX tokens. Which at current price is worth $1200+ [$0.28 * 4286]. There are two things here, first if the price of EVMOS token wouldn't have fallen I would have continued to buy some other tokens on the COSMOS network. The second thing, if this drama at the $CMDX wouldn't have occurred, I would have continued to enhance my stake in $CMDX and was targeting somewhere around on having $10K+ $CMDX tokens staked. But this is crypto and anything can happen at any moment and wee need to be prepared of it.
Plan Forward
Moving forwards the plan is now to continue stake daily EVMOS rewards until the price is above $2+. I have reset my target here and that is to having at least 650+ EVMOS staked now. If in between the price of EVMOS token increases, I would be buying some of my favorite tokens on the COSMOS network which are $ATOM, $XPRT, $AKT... I wished, I had invest in $XPRT instead of $CMDX that would have been a better decision. But time will tell if it was really a bad decision. Currently, with $CMDX pumping anything can happen and if the team comes out with their product it would be good to see how the price of the token reacts with the product launch. Its a bit sad to see my portfolio on EVMOS decrease in value at one point it used to be above $1k+ and now its almost down 20% with the value being close to $800. There is no plan at my end to remove the staked share any time soon. And hence with EVMOS trading at a lower price, I would continue to build my stake and reinvest all my staked rewards...
Image Credits:: app.evmos.org, evmos.disperze.network, comdex.omniflix.co
Best Regards
