I have opened my investing account on Osmosis for more than three months now. I knew about the cosmos ecosystem through the posts published on Leofinance.io more than a year ago. We always note how beneficial it is for users to find those alphas if the join the social network like Hive. I must admit that Hive and leofiance was way ahead of the time as there were users who talked about and explained their foray into COSMOS network back then.
It took me more that a year to join the bandwagon. Because I was late to the party, I missed many significant airdrops that include OSMO, Juno, Stargaze and EVMOS. Better late than never, I joined the fun late last year. I must say, it has been a fun ride so far as the network is enjoying the late price surge and critical limelights even when the entire crypto market is struggling with bearish trend.
Osmosis LP
The first step for me last December was to pool assets into the OSMO-ATOM pool on Osmosis. This was the most straightforward to get into the most notable dex in the network. I read about the Gravity DEX but did not find any details. Junoswap did not exist then.
The reward was decent initially. Right after I joined the pool, the cosmos network had a price surge that saw the doubling of the token price. The reward went down significantly since then but it is still stable at around 60% APR.
Withe relative ease of getting into the pool, I also transferred assets from Pancake swap to Osmosis. It was time for me to act to diversify my portfolio as the Defi projects on BSC has plateaued in the recent months.
OSMO-JUNO
The second pool I joined included Osmosis and Juno tokens. The reward was decent in the beginning and I could earl extra Juno as a double reward. Who does not like to have double rewards? I thought the Juno tokens I pooled into Osmosis would count towards Juno staking. I am still not sure but I kind of realized that it is not the case. Let me know in the comments if you know the fact.
To make sure I have enough Juno to qualify for the future airdrops, I purchased 25 Juno and staked them separately.
OSMO-CMDX
Shilling works and greed too. @jk6276 has shared his thoughts on CMDX and the potential the project has going forward. I pooled OSMO and CMDX tokens to get OSMO and CMDX rewards. It is a very small bag but I am keeping the pool to make sure I have a foundation to build upon.
Superfluid Staking
Innovation is always happening right, front and center at Osmosis. The superfluid staking is a method of staking the OSMO tokens that underline the LP positions in the OSMO-ATOM pool.
How does it work?
The 50% of the OSMO tokens in my existing OSMO-ATOM pool which are locked into the LP positions will be tracked by Osmosis protocol and can be used in the proof of stake of the protocol. The ATOM-OSMO pool can be bonded with a 1, 7 0r 14 day un-bonding period. The superfluid staking is only available for the 14 days bond.
I don't remember but it was around three weeks ago, I had a pop up to notify that I can enter into superfluid staking. I am always open to innovation. I said yes and the staking option asked me to select a validator. So, the idea is to stake your 50% of the OSMO position in the pool to one of the validators and receive additional OSMO rewards for your stake.
I am not sure how much OSMO i am receiving as staking rewards as the amount I receive has not changed significantly. The LP rewards dropped from 110% to 60%. That means the additional staking is keeping my OSMO rewards at the same level.
OSMOSIS Governance
The staked OSMO through superfluid mechanism allow us to take part in the governance process through validators. I do not have individual vote but that also means I have option to select a right validator.
Now, I hope the page allows us to stake the 50% of the ATOM portion of the pool to earn ATOM staking rewards.
Let me know in comments if you are providing LPs on Osmosis and have taken part in superfluid staking.