My last two LeoFinance posts have been about Osmosis, and I hope you were paying attention. It is good, seriously good. Two days ago, in that post I put a screenshot that had the price of OSMO in it. Here it is incase you missed it.
So, just 48 hours later, here is the price now.
Yup, OSMO has gone from $2.80 to $7.46 in just two days. Liquidity mining has commenced, and I included the LP positions I have in the screenshot so you can see some of the APR's on offer. Note, the APY figures quoted here are wrong, those are actually the APR's. Yes APR's. If you know what the difference is between APR and APY, you will see how big that is.
Not another copy-pasta rug-pull goose-clone shitcoin.
Osmosis team are doxed. Sunny Aggarwal has put a team together to launch Osmosis.
Fair-Launch - no presale, airdrop to ATOM holders (off exchanges) from Feb snapshot.
Layer 1 tokens on the Dex.
IBC implementation.
Staked OSMO earns big APR also, controls governance.
High inflation, but demand is pushing price drastically.
Osmosis effect is leading to a Cex liquidity crisis for the other tokens that can be used on Osmosis. Akash (AKT) has jumped 35% today, XPRT a similar amount in the last couple of days. Osmosis is quickly becoming the "liquidity black hole" for Cosmos based tokens.
A number of crypto communities all have a vested interest in the success of Osmosis. ATOM community will see it as a validation of years building the "internet of blockchains", and a great lead in to the launch of Gravity Dex. XPRT, AKT and DVPN teams and community have all thrown their support, liquidity and energy into making Osmosis a success.
With Balancer protocol as its reference point, and ambitions to be a fast moving, experimental chain, Osmosis has a great base to build on.
Getting in to Osmosis if you have not had much to do with the Cosmos eco-system is not a difficult task really.
- Download Keplr wallet, create an account and safely store your mnemonic phrase.
- Get some ATOM from your friendly Cex.
- Withdraw to your Keplr wallet's ATOM address.
- Go to Osmosis
- Connect your wallet.
- Go to Assets.
- "Deposit" your ATOM. (Technically you are transferring your ATOM tokens from the Cosmos chain onto the Osmosis chain using IBC) You can do this without having any OSMO to begin with, simply select the low fee option. It is currently set to 0gas for now, to make it easy for people to get started.
- Check that your ATOM's arrive safely. (this can take a little while, 5-10 minutes maybe - also there has been some glitches with IBC and some peoples "deposits" get reversed back to the original wallet after a few hours).
- Swap some to OSMO (again, use the low gas fee option).
- Explore.
Rewards for both staking to a validator, and providing liquidity are payed once a day. LP rewards are payed as liquid OSMO in your wallet, staking rewards require a claim transaction in your Keplr wallet.
If you add to an LP, note that you will only get the insane APR's if you bond your liquidity (Like staking the LP tokens on a BSC or ETH farm). The difference is that there is 3 different time options for bonding. 1 day, 7 days or 14 days. These are actually the unbonding periods, so once you bond (stake) your LP tokens they are locked in until you send an unbond TX. Then you can get them back after the unbond time period has passed. Worth considering, and wrapping your head around this process before you ape in.
None of this is financial advice, DYOR. But consider Osmosis instead of looking for the next BSC/Matic/whatever yield farm rug pull to ape into. Why not consider a game changing, unique and explosive alternative in a rapidly transforming and growing section of crypto.
So far, on Leofinance I know of @roleerob, @nulledgh0st, @michaelb and I are in, if you are also playing in Osmosis, please drop a comment on this post so I can add you to future tag list, if you wish.
For more Osmosis content, check the following links out:
- An early look at Osmosis APR's
- Osmosis post by @nulledgh0st
- Osmosis launches soon
- Osmosis and Akash, a match made in decentralized Heaven
- Cosmos based DeFi part 2 - Osmosis
Thanks for reading,
JK.
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After this post I am also in :-).
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Nice, I'll tag you in future posts. Just watch the price, it could drop a bit in the short run as people start selling the high inflation.
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I was about to do an update post myself - I've been buying in a little more OSMO as I can as well. I have nearly everything staked and I am absolutely LOVING the yields - literally earning over $100/day purely in OSMO tokens, off of basically what was 95% a free investment (I've spent maybe $200 in tokens, and I'm sitting on over 700 now).
This has been such an incredible token - I'm predicting it will shoot to between $15-20 - what are your thoughts?
this has certainly been the best week I've had in crypto for a very long time. I've been searching under the sofa trying to find some more funds to put in to LP or stake. My personal liquidity is dry.
The price scares me a bit, but it only seems to know one direction - up. at current price it is around a $750 million market cap, for a project less than a week old it is insane really. I wake up each morning expecting to see that some ATOM whale has claimed all their airdrop and dumped it on the market. So far supply exceeds demand, and it is draging up the prices of other cosmos tokens. My precious AKT's (my biggest crypto bag) are up over 30% today, for example.
A $15 price puts it close to the top 50 crypto's, and around par with RUNE. Is it worth that much this early? I dunno, but fomo can do crazy things.
Enjoy the ride my friend, but keep your feet on the ground for now.
Do your update, more people need to know how good this is.
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I haven't touched AKT yet, would you say it's worth it to perhaps start turning some of my OSMO into it? I've been personally restaking nearly all OSMO earned daily, however today I did take out like $60 worth to buy some more HIVE as I would like to grow here.
However, I feel like because the interest rate is just so damn high right now, it makes no sense to do anything other than just smash the hell out of earning OSMO right now and run it until the well runs dry haha.
You're right, I probably should do my update, I just gotta get more eyeballs on my posts! Any suggestions for getting some more eyeballs from the LeoFinance community? That's really where I want to start growing, as I'm going to really start hammering away on financial content.
Keep crushing it my friend, it's been a glorious week for those of us on the OSMO wagon, despite crypto being mostly doom and gloom as of late!!!
It's up to you, for me my Akash investment is a long time frame holding. Buy, hold, stake compound. Depends on your time preferences really.
Short term, compounding into more OSMO stake, and slowly adding bits and pieces into LP's makes sense.
My OSMO income today from stake and LP was 47 OSMO, worth $338 roughly. To give you an idea of my plans, I staked 25% of it straight away. Swapped 25% into AKT and withdrew it to my akash wallet to stake. Then I added the other 50% into LP's.
As for Leo, gaining traction and regular support is a grind. I've been hanging around here from the start, and the best way I found to gain followers is to be early on something, (for me it was RUNE), and learn about it in detail before the majority arrive, and get it right.
The easiest way to build a fan base is to show people how to make money, teach them something new. That has been my experience so far. I focus on content that is outwards focused, trying to bring views from twitter and reddit. Leo people see that and appreciate if you consistently bring traffic to LEO.
That's my 2c for the day.
Good luck, I'll look forward to your future OSMO updated.
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This is brilliant, thanks a ton for the information. I like your strategy about playing around in both OSMO staking and LP - I only have about $100 in LP at the moment, but I think I'm going to focus on that a bit more with my daily earnings moving forward. Probably something like 40% staking / 50% LP / 10% HIVE (I wanted to start building this up here too).
As for a content strategy, that's actually a really smart strat as well. I currently am working on a project called TradingDojo.io, where I'll be building a website that's focused on everything under the sun regarding finance - education, crypto, stocks, investing, retirement, FIRE, books & content, and then of course creating my own content (youtube vids, maybe some live streams/trading streams, etc).
Integrating LeoFinance/Hive into this strategy seems like it would work pretty well too, as a good way to tie all things together. This also fits in line with your strategy of bringing external traffic inward to the platform.
Thanks again for your advice and content - I truly appreciate it, and I look forward to reading more from you. I'll be sure to share my OSMO strategy and update when I post it!
Hey, question!
I'm averaging about 15 OSMO/day now from my staking (I have 705 staked, and only like $80 worth of LP tokens in the OSMO/ATOM pool).
How do I view what I'm earning from the OSMO/ATOM pool, and what makes more sense - to keep stacking up OSMO as staked tokens, or to push more into the OSMO/ATOM pool? I'm unsure at this point.
Thanks man!
Your earnings from the pool should just appear in your wallet, as long as you have bonded the LP tokens (staked them for either the 1,7 or 14 day option).
As for what makes sense, it depends on your goals. Pooling adds some diversification, if you are concerned about an OSMO drop. If a drop does happen, then you will gain more OSMO tokens in the pool via IL. Pooling while your target asset is high valued, and then unpooling after a can be a good active LP strategy - providing the token goes back up after unpooling.
It really is a personal decision, I'm doing a bit of both.
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Thanks a ton for the breakdown.
So impermanent loss can actually be a positive thing in terms of acquiring more OSMO tokens - neat! This makes a lot more sense to me now. I wasn't quite sure how to figure out what my earnings were / etc.
I also like adding some diversification by splitting my assets up into two tokens vs 1 - so perhaps I will move forward with an 80/20 approach now (80% stake, 20% LP'd).
Appreciate your wisdom as always - you're quickly becoming my personal knowledge base, haha! Maybe you'd like to be a contributor to the new project I'm working on, TradingDojo.io. I'll be looking for content and trading course/educational gurus :D
I am following Sunny Agrawal as cosmos has been in my list from a while. And in the oceans of DEXes and AMM, it seems the project's APR are really big in number and I will give it a try once for sure. But, I think I should wait untill osmo price get little stablised at a zone for a while and by this way, I am little bit safe from impermanent loss.
I would like to know, Do they have the burning mechanisms for OSMO or a schedule?
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APR's are huge, it is highly inflationary to begin. There was no pre-sale, so the team have said they want the tokens in the hands of active users. Price will be interesting to watch, see if it follows what happens to a lot of high inflation tokens and steadily declines.
No burning mechanism that I have seen or heard of.
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Hi - the app seems to have just frozen for me, I've got no payout for my last 24 hours and my wallet is showing me this with a 'too many requests' pop up?
I can't seem to do anything, is there a support channel you know of? Discord, or Telegram maybe?
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The telegram channel is hyper active here is the link:
https://t.me/osmosis_chat
I had no problems a few hours ago - claimed reward, swapped some to akt, which I withdrew, staked some osmo, and then pooled some including bonding. I did see that they hit a lot of congestion a bit before them, may have been bad timing for you.
The team have said that early adoption has far exceeded their expectations, thought they'd get a few hundred active users in week one, actually have several thousand. Their is a governance vote to change some blockchain parameters to improve congestion and make things smoother while they work on longer term fixes to improve scaleability. Also the IBC system has been massively stress tested now with live funds, and there is work ongoing to continue to improve its reliability.
Teething problems no doubt, but also a good sign for the long run that the network is popular from day one.
I just push every transaction through with the Low Fee option and then set gas at 6000000. Seems that has been working fine (and it's still free with the low fee setting, no matter what gas you input). 6000000 is the block limit until this governance vote occurs, and the changes are applied likely tomorrow.
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Cheers, all good to know, and thanks for the response in Discord.
Enjoying the Yields, thinking I might unstake some AKT and pile that into Osmosis!
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I am glad to see things going well. Actually I am probably more interested in seeing how things would look a month out. From what I saw of the normal Defi Farms based on the Goose model, it tends to drop then.
Unfortunately I feel like I will stick more with CubFinance for now but maybe when it generates enough returns, I'll send some money that way to play around.
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Yes, it will definitely be interesting to see how it holds up as the inflation starts leading to selling pressure. It has dropped a bit since this post, around $6 now, so things are starting to stabilise and the fomo seems to be washing off a bit.
Even if you don't get involved, it is always good to know what else is out there. Cub is great, and the Kingdoms are steadily turning the ship around and should lead to better times ahead for the CUB token.
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Holy moly, I got my first rewards: 4.8% in a day, split between staking and pooling. I assume that will go down quickly but the project seems very interesting. I am happy to have a passive income to buy AKT and grow my stake. Keep the infos about Osmosis coming.
Yes rewards will drop, and likely price will also - be ready for it. But I'm excited to hear this is giving you a path into more AKT over time. I checked not long ago, and AKT is now 50% of my crypto portfolio. I've got a target I'm working towards, before looking for the next main project I will try to build a "life changing" stake in. For now, AKT is it, HIVE stuff has set things up, but I don't think I'll ever make life changing money here.
Passive income is key, the more the merrier.
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I got some OSMO and stacked some of it to a validator. The other part I put into the OSMO/AKT lp and then tried to bond it for 14 days. Whatever gas fee option I used ended in the same failed transaction:
Have you seen that before? Apparently multiple people reported that. Probably just a glitch that is soon fixed.
And what is the APR on staking?
The gas thing is a known problem the team are working on. To bond, hit "low gas" and then hit the "set gas" tag. Set it to at least 5000000 and it should work. It's still free, but just glitchy for now.
APR on staking is between 2 - 3% daily. it will steadily decrease each day as more people stake. There is a set number of OSMO each day shared among all stakers, so more stake means lower APR. Absolute minimum APR will be around 70% (which would only happen if all OSMO was staked - not going to happen as lots are going into the LP's).
Now we just have to hope the price holds up. I'm expecting a Cub style drop at some stage, but who knows.
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Thanks, setting the gas fees manually worked!
The staking APR is crazy. I will probably buy AKT with my daily rewards.
The LP rewards are still pretty nuts and they're about 1/3 what they were a few days ago. I think my first day reward on $12k investment was something like $1.5k....mind-blowing. Wish there was an easier way to see transaction history and rewards.
Osmosis really makes working with AKT a lot easier since it was only sold on the more obscure exchanges. I think this will be a boon to AKT short and long term. I find my self using it to get swap CRO to AKT to increase my ADK stake. Don't go all in, but it's certainly worth a dabble.
And @JK thanks for the tip on how to avoid the "out of gas" error, was driving me nuts
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I think that is one of the biggest benefits for a number of the growing Cosmos tokens like AKT with a much improved accessibility. The Cex options it was on were fairly poor, but now buying AKT is simple. ATOM is everywhere, with plenty of fiat options also, and then simply swap it for AKT.
Other tokens like XPRT and DVPN are both worth a look also, I'm particularly interested in XPRT and may start building a position in it beyond a small amount I currently have in the LP's. They are building a "liquid staking" platform which interests me a lot.
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I'll have to look into them. The first I heard of DVPN was what Greg (AKT) mentioned about them on a podcast he did with the main Osmosis guy yesterday, and seeing XPRT and DVPN in an Osmosis pool. I wish they had a link back to the project sites so interested investors (me) could easily learn more about some of these tokens/projects. Most of the resistance crypto gets with mainstream investors is just from lack of knowledge.
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Yes, this has looked very promising thus far @jk6276. As a "non-fairdrop" participant, I have been steadily adding to my small position. That is, I am DCA'ing in ...
One quick question on LPing incentives (so far, I am only in OSMO-ATOM). It appears the only way to get them is via "liquidity mining?" I see the "reward distribution" countdown, whenever I check in, but I have yet to see any "reward" whatsoever appear in my wallet.
If that is what it takes, I have also seen warnings about problems on Discord, so have elected to wait on doing that. Both to confirm that is the only way to earn rewards. As well as give a bit of time to let them work out the kinks ...
Thanks for writing these posts John. I hope you are benefitting nicely from your research in discovering these tokens. I see AKASH is up ~ %25 in 24 hours, so I assume you have a big smile on your face! 👍🙂
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You are right, to earn the rewards from LP it is required to bond (stake) the LP units for one of the time periods (1,7 or 14 days). The wording on that is a bit confusing, you are bonding the LP position, and selecting the unbonding time really. So if you pick the 14 day for max APR, you can keep them locked for any time period, but once you unbond, it takes 14 days before you can access those to remove from the pool or do anything with them. Those should be called "Unbond" periods really.
The problems noted on discord and telegram have mainly been from network congestion, and a gas usage issue the team is working on. No security related issues have been reported to my knowledge. If you do decide to bond the LP tokens, in KEPLR for the transaction, select low gas option, but then hit the "set gas button" and change it to something big, like 5000000 or more. The transaction will still be free, but the high Gas seems to be needed to push it through.
AKT had a great time in the last 24 hours. Ask me in a few years if I am benefiting. I'll either be retired from my fiat job and full time crypto, or still slaving away and trying to grind out more crypto in whatever ways I can.
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🌄 Good morning (here)! ☕
Thanks for the confirmation @jk6276. Especially the detail about ensuring my "bond / unbond" transaction goes through without incident. I will try it later this morning, as time permits.
Overall, it seems like this launch has gone quite well, from a performance point of view. That is, fairly smoothly with few bugs to squash. Speaks well for the dev team.
The "big picture" for me is how many "mainstream" tokens they can attract for making LPs for them. At the moment, this seems like a "small pond" DEX by comparison with something like THORChain. Hopefully, it will "grow up" to be all its creators envision.
Have a great day! 👋
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Yes, growth in the available tokens will take time. They are reliant on chains adopting the IBC protocol, which is a time consuming major upgrade each chain needs to perform. Terra Luna is working on it, and that would bring stable coin (UST) which will add a lot of appeal.
The other thing that will help is when the gravity bridge to ETH is live. Then ETH tokens (pegged into the cosmos eco-system) will become available.
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I've been stacking ATOM tokens for the last year and moved into Osmosis within the 1st hour.
I am also doing well and have taken some profits out and spread around.
I believe the IBC launch and the new cosmos Roadmap 2.0 is the best thing going in crypto right now.
Glad to see other Hive users are also enjoying the benefits of this launch.
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The more I have gotten involved in the whole Cosmos eco-system, the more I like it. ATOM is the backbone of it all, and now Osmosis is certainly exceeding my expectations. IBC could reshape the crypto landscape over the coming years, I don't think there are many that realise it yet. Just being able to move tokens from their native chain, to another, without a wrap or custody thing is a big deal.
Next up, Gravity. Also looking forward to Thorchain and Sifchain enabling IBC at some stage.
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Nice job and thank you for sharing your experience. Especially when it works out hehe :D.
I had just a few questions, could we say this is a competitor of Thorchain? Assets pulled are only Cosmos native at the moment right? Do they plan to make it cross-chain native?
How would you say it is different from an Uniswap / PancakeSwap AMM ?
Thanks in advance.
In the process of creating my Cosmos Wallet to try it out !
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Always nice to be right ;).
Only some Cosmos chains can be on Osmosis at the moment, those that have enabled the IBC upgrade. So for now, the options are limited. As this list grows, it will have more options. In the not too distant future, Cosmos will finish the gravity bridge, which will bring pegged versions of ERC20 tokens into Cosmos. That will be significant.
Thorchain could be seen as a competitor, although the differences in their approach to cross chain are significant. More likely, they could complement each other, once Thorchain implements IBC. All it would take is an ATOM/RUNE pool, and a slick UI linking the two protocols together, to be able to move easily from one to the other. Thorchain wants to be the link between chains and eco-systems, and Osmosis could be one of the off-ramps to the smaller tokens available on it.
In terms of comparisons to ETH AMM's, Osmosis is most similar to Balancer (it is actually designed and adapted from Balancers source code). Gravity Dex coming early July on the Cosmos Hub (Cosmos chain itself) will be more like Uniswap by way of comparison. Both with much much lower gas fees of course.
Give it a try, be patient as the network is pretty busy and IBC transfers have had some glitches and reverted at times. When you are using your Osmosis Keplr wallet, set the fee to low (it is actually free for now) but hit "set gas" and change it to 5000000. Won't cost anything, but should push the transactions through without issue.
Have fun, hit me up if you need a hand with anything.
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Interesting. I think I've read your previous posts, or someone else's, about Osmosis but I didn't look into it.
What do fees look like on that chain?
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Tiny. they actually have a no fee option at the moment, to give people the chance to swap from ATOM or other tokens and get some OSMO to get going. The swap fees are dependant on the pool itself, anyone can make a pool and fees are customizable by the pool creator. Most of the main pools are set at 0.2% swap fee, a little less than Uniswap for example.
Even when Gas is not free, it will be tiny, a few cents worth at most.
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Thats nice. I think high fees really drive away smaller investors so hopefully they will be able to get some money going in
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Thanks a lot JK, for sharing your experiences with Osmosis. I have researched about the project since I saw your last post about it. Seems like a great one and a bit different from what others are doing.
I will definitely give it a try since I was looking for alternatives other than BSC and Polygon.
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It's a pretty good one to get in to, all you need is some ATOM which is on pretty much every Cex, and a Keplr wallet.
I like it because it feels a lot more substantial than BSC and Polygon stuff, and I have a lot lower fear of Rug-pulls. Running on its own chain gives an increased feeling of security.
I'm not convinced that the price is sustainable, so I wouldn't "all-in" at this stage, but a little dabble, and DCA in to some pools/staking could be a great way to get going.
Thanks for your comment, and following looking further in to it.
JK.
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Even I think the price of OSMO is unstable for now so I will DCA into it for sure. I will install Keplr Wallet to try it out. Thanks for the pointers.
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Let me know if you need any assistance along the way.
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Sounds really interesting, gosh I'm tired of downloading wallets and setting things up to do all the new things though.
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Yup, the pinned browser extension section is taking over , with keychain, metamask, keplr and more and more being needed all the time. It does get tedious.
I've really become more and more focused on Cosmos and some of the chains that are linked to it, and it's an interesting rabbit hole to dive in to.
Thanks for visiting my post.
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yeah man i'm in! (I didn't get tagged cause you spelt my name wrong lol)
Haha, this post was a bit rushed, thrashed it out in between doing other stuff. I'll try to get the tag right next time @michealb
My brothers name is Michael, probably why I stuffed it up.
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I am doing nothing in osmosis pool but I love to read you, if you are ok, you can just tag me.
Look like there are nice profits for early investor.
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Add me to the tag list, thanks!
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Will do.
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Thanks.
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Your post was promoted by @finguru
Thank you, much appreciated.
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This is really giving a lot to talk about :D
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Yep, I missed your other posts on this. Oh well. I do hold some ATOM, but it is mostly in Coinbase so I am not sure how accessible it is anyway. I am glad this is doing well for you. I just recently started getting into stuff over on the MATIC network. That has been fun.
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I haven't been anywhere near Matic yet, too much to keep up with. It looks like a lot of fun, but similar risks to playing on BSC. I've just found myself more and more drawn to Cosmos assets and the eco-system there, and have focused on that.
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Cosmos seems cool. If they had some integration with MM I would likely check it out. My holdings are small though. That price being up around $20 kept me from buying too much.
Seems like a nice project...I'll look at it when it falls again.
It'll be bad to buy and find my money falling.
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I really am very interested in what I read in this post. I personally like "atom" and everything that has to do with its currency. however, I will do some independent research on "osmosis". 100 points to this post, thank you!
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