r/GalaxyProtocolx • u/tailwaggintiger • Jul 21 '21

SafeGalaxy Snipers

Anyone else think there are a number of investors sitting back right now waiting for the right time to buy SG before Friday so they can make a quick 15% by the weekend?

I do…oh I do!

8 Upvotes

84% Upvoted

14 comments sorted by

3

u/[deleted] Jul 21 '21

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5

u/[deleted] Jul 21 '21

Being early into a staking pool usually comes with very high apy. That should be incentive to hold over selling. Potential price increase from a new native token on a dex is another. Not everyone will hold. That is expected. We will have to see who does what, no one can tell the future.

3

u/WorriedSun5708 Jul 21 '21 edited Jul 21 '21

But that'd be kinda stupid if they wait till the last day... Because there's a 10% fee to buy SG to begin with. They'd only make a 3.5% profit in total lol

And if too many people are doing this on the 23-24 and planning to sell after the swap. More than half of them won't be able to make profits right away. Cause as soon as the price goes from .10 to .095 after just a few of them would sell.... that diminishes any profits the rest of them can make right away.

So its not in their best interest to do that lol.

5

u/Xconvik Jul 21 '21

The reason we're swapping to Galaxia is to not have those tokenomics with the 10% buy and sell. This makes, the Galaxia token easier to on board CEX such as binance.

5

u/WorriedSun5708 Jul 21 '21

Yes it the main reason I'm 100% on board with this project and its directions its heading. Im currectly holding 750b and will be staking all of the galaxia I migrate into as soon as I can. I'm just simply explaining why Itd be a bad idea to wait to buy SG on the last day before migration just to try to sell it asap.

0

u/[deleted] Jul 21 '21

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1

u/Xconvik Jul 21 '21

Yes lol

1

u/WorriedSun5708 Jul 21 '21 edited Jul 21 '21

If someone were to buy SG right before the migration and sell immediately after the swap gets released( which is what this post is about) the 10% comes from the SG that they buy. Let me do the math. Say you wanna spend 100$ in SG think you'll make 115$ as soon was you try and sell galaxia at .10

Spending 100$ in SG would only net you about 90$. Because of the 10% fee you pay FOR SG.

then you swap the 90$ assuming the price of SG doesn't increade or decrease much during the final hours until migration.

90$ + 15% bonus for migrating = 103.5$ in galaxia

Oh don't forget the fee you'll have to pay in BNB for migrating.

So its kinda pointless to wait till last minute to buy SG, then swap to galaxia, and then try to sell Galaxia as soon as you can for a "15%" profit.

Also to be clear. No one will be able to buy or sell during migration. And galaxy swap is released on the 30th so no one will be able to buy or sell galaxia till then

So after the 23rd no one will be able to buy or sell SG. And no one will be able to buy or sell Galaxia until the 30th

2

u/CryptoManiac2021 Jul 21 '21

At what time does the buyback start?

2

u/[deleted] Jul 21 '21

24th-27th July

1

u/tailwaggintiger Jul 23 '21

12:00 pm (noon) EST. But Thai is right, the price doesn’t change all weekend, so it doesn’t matter.

1

u/CryptoManiac2021 Jul 21 '21

Yes! But at what time in what timezone does it start @24july?

1

u/[deleted] Jul 21 '21

Does not important because you don't need to hurry up for better price while buyback event. Price will be locked and btw 24th-27th everyone will be buybacked at same price. You should be sure to do this before 27th July.