Staking in bear market - YES or NO? (And your strategy?)
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Since the bear market, I’ve basically staked everything I own to generate more passive income.
Tokens: Ngl I staked Polygon on Stader solely because of its incentives, specifically its high APR ratio (80%). I want to earn as much interest as possible with liquid staking, in which funds remain accessible in an escrow, w/o the lock up period or having to run my own node. Going stable could never go wrong, especially during this market condition.
NFTs: During the bear market, I staked all 3 Azukis on BendDAO and bought another Azuki with my borrowed money. Its floor price was at 9 ETH weeks ago and already rose to 11.4 today. I believe Azuki will bounce back to 20 ETH worth in a year, and there’s no better timing to stock up than the bear market.
Not sure if this is an unpopular opinion, but I think as long as it's a blue chip NFT, it's worth holding for the long term. Of coz the money invested must be your spare money.
In-game assets (Axies): I staked my Axies in MetaLend which still allows me to play with my Axies and earn SLP. While I don't make a lot of money with this game anymore, I wanted to give it a try because using collateral to make consistent profits is an attractive side income.
I'm now considering buying Forest Land there too, as the prices dropped over 15% in ETH and USD last week.
Btw I’m open to all forms of staking, feel free to share your recommended protocols and staking strategies
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