1/ I bought a StepN shoe on BSC 2 days ago for 17 BNB (~$5100 USD).
Here's the story.
#STEPN #MoveToEarn #NFTgaming
Here's the story.
#STEPN #MoveToEarn #NFTgaming
2/ As you probably know, the markets have been falling off a cliff, and that includes crypto.
I went from earning $1000 a day to 'only' $500-$600 a day.
Fortunately, that opened up a new opportunity.
I went from earning $1000 a day to 'only' $500-$600 a day.
Fortunately, that opened up a new opportunity.
3/ About a month ago, StepN launched on a 2nd blockchain - BSC.
For a couple weeks, nothing really happened. Most of the genesis shoes were bought up by bots.
So on May 3, 2022, StepN decided to airdrop 10,000 BSC genesis shoes to the holders of the first 10,000 SOL shoes.
For a couple weeks, nothing really happened. Most of the genesis shoes were bought up by bots.
So on May 3, 2022, StepN decided to airdrop 10,000 BSC genesis shoes to the holders of the first 10,000 SOL shoes.
4/ This created a flood of activity and GST on the Binance Smart Chain (a separate token from the GST on Solana) shot up to $20, then $30, then $40.
It was insane.
And the floor prices of shoes shot up accordingly. At one point, the floor price of a common shoe was $16K.
It was insane.
And the floor prices of shoes shot up accordingly. At one point, the floor price of a common shoe was $16K.
5/ I watched from afar, but couldn't do anything. I couldn't afford $16K for another shoe.
Enter the Luna/UST catastrophe.
Everyone freaked out and GST on the BSC chain dropped from $40 to $10 over 3 days.
The floor shoe went from 40 BNB to < 16 BNB.
I saw an opportunity.
Enter the Luna/UST catastrophe.
Everyone freaked out and GST on the BSC chain dropped from $40 to $10 over 3 days.
The floor shoe went from 40 BNB to < 16 BNB.
I saw an opportunity.
6/ I couldn't afford it before, but now it made sense to buy a shoe on BSC.
GST on the SOL chain was $2.50.
GST on the BSC chain was $10.
I could sell one of my uncommons and a couple of commons to buy a BSC shoe. I would still have 30 shoes and 20 energy.
GST on the SOL chain was $2.50.
GST on the BSC chain was $10.
I could sell one of my uncommons and a couple of commons to buy a BSC shoe. I would still have 30 shoes and 20 energy.
7/ Sure, I'd be earning less GST, but the value of that GST would be 4 times higher.
By my calculations, I could go from $500-$600 a day to $1600 a day with a lvl 30 common BSC shoe.
Of course, that assumes prices stay the same, which I don't think will happen.
By my calculations, I could go from $500-$600 a day to $1600 a day with a lvl 30 common BSC shoe.
Of course, that assumes prices stay the same, which I don't think will happen.
8/ But I only need this to last for 1 week to be worth it.
I'm only 3 days in and this is how it's gone:
Day 1 - $550 profit
Day 2 - $650 profit
Day 3 - I should make ~$790 today
My shoe is only level 9.
Every level up will increase my daily earnings.
I'm only 3 days in and this is how it's gone:
Day 1 - $550 profit
Day 2 - $650 profit
Day 3 - I should make ~$790 today
My shoe is only level 9.
Every level up will increase my daily earnings.
9/ Who knows how long this will last, but right now it's the greatest arbitrage opportunity in the game.
If you want to win you need to be able to adapt to change.
If you want to win you need to be able to adapt to change.
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