Working on the big PENSKE project
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I am learning that that was just an example payout ratio. Payout will be entirely determined on the snapshot on 12/24 with the trust lines that setup. The more people that participate the less there is to go around.
I believe I read 100 million will go to xrp holders and 100 million to solo holders.
So that payout is going to be nowhere near 1 to 5 that was circulating around. Let’s say 5 billion of the 46 billion circulating participate with a trust line. 100 million to 5 billion means you will get 1 solo for every 50xrp!
This video is 9mins long but to receive your sgb, wrap it and delegate it, it probably only takes 1 to 2 minutes. This wallet makes it super simple. And this guy does a great job explaining it.
So it is a virtual Ethereum network. I watched someone wrap their sgb and then delegate. Each action only cost a penny or two in fees.
When all your sgb is sent, you need to leave a few loose to pay the fees to wrap and delegate. But this does not fall under the absurdity of Ethereum gas fees you hear about. It is a virtual Ethereum network.
I am using Bifrost for sgb and exfi. Built in wrapping and delegating process made super simple.
Something definitely does not add up with the solo air drop. There isn’t enough solo to go around to even a small fraction of xrp holders that do participate. I am starting to ask around now too. Will let you know what I find out.
The snapshot for exfi is the same as the flr and sgb. You just had to have your tokens on tbe exchange 12/20/20 (last year) to qualify. You fill out their form with the erc-20 wallet address of your choice that is not on tbe nexo platform since Nexo has decided not to maintain custody at this time.
I opened up a Bifrost wallet and then I was given a sgb address which I shared with nexo and now am all set for both distributions.
I am pulling all my xrp off soon to prepare for solo air drop. All actions on nexo are irrelevant. Anyone who fills out the nexo form and held xrp on 12/20/20 is eligible
Well I did get some feedback. I got this comment with others concurring:
Essentially, because #exfi is "on" (i.e. a part of) the #Songbird network itself, not a separate network/chain. Much like ERC-20 tokens are "on" the Ethereum network. So they share receiving addresses.
Follow up response : Yes, $SGB and $EXFI are held in the same wallet address
They want an erc-20 address that is not tied to Nexo. They worded it funny becomes others on Twitter were asking too. So a non-nexo erc-20 address.
I provided my Bifrost sgb wallet address so I don’t think I made any errors. I just don’t see how this will facilitate exfi delivery. I would think it would have its own address, but nexo is only asking for one address.
Yea but o already filled out the form and questions immediately came up that they can’t answer.
If we are providing one non nexo erc-20 address, how will that facilitate the drop of 2 coins?!
I am assuming the Bifrost wallet sgb address is an erc-20 address. It is designed for sgb so I felt comfortable using that on tbe form, but am clueless how that will get me the exfi? I don’t have a wallet for that yet. I don’t have a trust line because Nexo is getting it for us and distributing
This is why I am trying to talk to help desk. Very confusing. Nexo wants us to provide one address for both airdrops.
I opened a Bifrost wallet earlier which is designed to accept songbird. So I provided that wallet. But I don’t understand how they will distribute the exfi of Nexo only wants one address. I am not opening up trustlines because nexo is claiming them and sending to us after distribution
Nexo: This one has been a long time coming. We are pleased to officially announce that we are supporting the Songbird (SGB) airdrop program for XRP holders.
We have been in constant communication with the Flare team to make all the necessary arrangements to distribute the canary network’s token. To make things even easier for our loyal XRP community, we’ve decided to also take part in the Experimental Finance (EXFI) airdrop on the Songbird Network, respecting your due right to participate in the SGB snapshot on December 12, 2021. That’s right, you’ll receive both SGB and EXFI at once, hassle-free.
How to Claim and Receive Your SGB and EXFI?
You are eligible for the SGB and EXFI airdrops if you held XRP on the Nexo Platform on December 12, 2020.
Make sure you have a non-Nexo ERC-20 address.
Claim your tokens by filling the below Typeform out by 00:00 UTC on January 1, 2022.
Get 0.1511 SGB per 1 XRP and 1 EXFI per 235.275 SGB in January, 2022.
I do too however sec would never do it. Any settlement shows weakness and opens door for others to fight sec. they are in this too far now and have to see it all the way through in my opinion.
In John’s proposal he claims the sec would take the 500 million and provide relief to the xrp holders. That too would NEVER happen.
I think John will sue SEC on behalf of 65k+ holders after there is resolution with Ripple. And that case will be just as difficult
So nexo should be distributing the sgb to you and you don’t need any trust line for that. You may want to look into a wallet to send it to after or maybe nexo will hold it for you or even allow it to earn too.
I have half xrp in flex and half still fixed but all will be flex before 12/24 so that I have a nice grace period to move it in time before snapshot. Also white listed my XUMM on nexo and did some test transfers to make sure it will get there without error.
Snapshot is 12/24 and the solo distribution takes place 1/20
If you look around, everyone has slashed their xrp earnings rate. They said main stream adoption has forced them to do this in order to stay competitive.
Solo at this rate will more than provide tbe 10% value to put you in maximum tier worh a massive limit so that all your xrp goes back to earning full potential.
I may convert all solo. I imagine it won’t be worth what it is today, unless the dec 20 news is mind blowing. I don’t care if my solo to nexo conversion comes out to 20% 50% or whatever of my total assets on Nexo. We will need that cushion when xrp starts to go up in value.
If you get 10% in nexo and xrp and ripple win the lawsuit and it shoots up in value, you will quickly lose the tier status.
Too soon to decide. A lot can happen with xrp solo and nexo in next month or two
Sgb was airdropped to those who qualify for the FLR airdrop and the sgb is being sent to wherever the flr snapshot was taken. Those that took the snapshot individually with their own hard wallets probably had to setup a trust line. Those like me who are receiving it through an exchange do not have to do anything. The exchange holds the tokens and they just have to distribute them to us.
That doesn’t mean you can’t still go out and buy sgb. It is free trading. I downloaded a Bifrost wallet last night because I will send my sgb there. From there you can click wrap then click delegate and it starts earning passive income. Watched a YouTube of the process. Very easy can be done right on your phone.
There is going to be a big announcement on 12/20 as to how solo holders will be incentivized to hold the token. It is going to have to be one hell of a plan at these prices.
At solos current price, I am very tempted to convert all of it to xrp, then take a huge chunk of that to Bitrue and swap it out for nexo tokens. Then move nexo and xrp all back on to the nexo platform.
With that kind of airdrop of solo value, that is enough to put you into the platinum tier. What does that mean? Well it pushes the limit of xrp up to something like 10 million that would be allowed to receive the max payout. Then I would have all that nexo that I would use to earn passive income as well. And at what cost? Almost nothing.
Yes. All the exchanges that are facilitating the FLR airdrop, received the sgb. Then it was up to the exchanges discretion what they will do with it. Some exchanges have not yet elected to give to xrp holders. Nexo took a long time but they pretty much said they will distribute.
I get it, they didn’t sign up for all this airdrop madness, it was kind of dumped on them. That is why when solo airdrop snapshot is taken, I will not rely on nexo. I got the XUMM wallet and setup the trust line and I will make sure I qualify before moving it back to nexo. I am not going to beg nexo for months and hope they do it for us.
Why are you off Twitter???? It’s those kind of updates o would be clueless to without Twitter. If it’s too toxic just follow a couple of key people in the space just to stay informed.
If you qualify for flare, you qualify for sgb. Who ever is fulfilling the flr airdrop is handling the sgb airdrop if exchange agrees to it.
Nexo just said sgb is coming to the platform!!
When btc crashed, xrp hit all time highs a few weeks later. That’s what happened end of 2017 and into jan 2018.
My thought was btc holders cashed out and dumped into alt coins like xrp. Now I invested after the fact and have been watching for 3 years. When btc dumps xrp and most others dump. So if this is always my observable case, how did that xrp moonshot happen?!
All the hypesters saying October was the month, then November, then December, now they kicked the cab down to 2022.
My dreams keep getting pushed back. Even my passive incime strategy is falling apart. Nexo just scaled back their earnings payout on anything worth over $50k usd. Living off the interest will be harder with that cap.
So the next carrot is the solo air drop. Solo was $6 yesterday and we are supposed to get 1 solo for every 5 xrp. Those loading xrp over the years would be getting payouts in the six figures with that airdrop. Reality has a way of coming in and crashing that dream. Day traders will dump before the air drop or immediately after (but before the token is distributed). By the time we get the solo, any large bag holder will dump to secure whatever profit they can get and either cash out, convert to xrp, or put it towards some other alt they are interested in. Price is going to crash in a huge way since they are doing it all in one shot and not in phases.
Solo is making a big announcement December 20 on incentivizing solo holders. This will be their one attempt yo prevent the massive dump on 1/20
I’m tempted to take the solo from the airdrop. S convert it into nexo to get me into gold or platinum status on the platform. That will bring all my xrp back into the highest earn because of the increased limits, and the nexo itself can be held and earn interest too. Normally o would t do it but the airdrop is free to us
If the xrp is valued at under $50,000 USD on those two assuming you are in the base tier, yes they will not be impacted. But if you hold over 50k usd worth of xrp on Nexo, you will see an impact to both flex and fix on Anything that is over the 50k limit.
You can now see there are two tabs on your earnings breakout when you are in manage xrp wallet. A tab for under the limit which shows your payouts, and a tab for everything over the limit. This tab over the limit is significantly Reduced to 1 or 2 percent depending on whether your are fixed or not on xrp > $50k
Some of it depends on your tier and your limit. If you have under 50k usd locked up in fox than you will not see a change. If you are in a higher tier that limit could be 75k or more
I spoke with an agent. Let’s say you have 100k usd worth of xrp. You keep the whole flex. You would receive 4% in 50k and 1% on remaining 50k
Let’s say you fixed it on ALL. You would receive 5% on 50k and 2% on rest.
This is baseline if you hold no Nexo. I see this happening in my account now. They said adoption has increased significantly and based on risk they had to do this. Earnings have dropped on all other platforms I notice too.
I will need to research what to do with my xrp after air drop. At the very least I will put 50k worth back on nexo and fix it to earn tbe 5%. But there has to be other platforms out there or methods to beat the 1 to 2% they will pay on the rest of my bag.
Are your seeing a difference in your daily interest earn starting 12/01? I saw massive reduction in daily payout
That’s it. I thought if you held more than 50k xrp on nexo you would get more interest but it’s less! There is no incentive now to hold more than 50kus worth of xrp on nexo. They are paying a measily 1% on flex and 2% on fixed. So after all this solo air drop stuff I am not sure if I will move it all back to nexo because of this. Payout is too small of you hold over 50k.
The customer service rep told me something entirely different but the system appears to be ing ehat you are showing me
Oh so we are getting screwed????
Effective 12/1 nexo has changed their payouts on earn for some cryptos including xrp. If the value of your xrp asset > $50k, and your are in the base tier meaning you hold 0 nexo, the payout on your flexible xrp is 4% + 1%. If you fox it for 30 days it becomes 4% + 1% + 1%.
So I was expecting all my loose xrp to start earning 5% and my fixed amounts to earn 6% on 12/1 however something went real screwy and some stopped paying and some significantly declined in daily payouts.
Nexo told me there was a glitch in the notifications but correct amount is still being paid out. I don’t believe them though
The base tier paid 4% flex and 5% fix. If you pass the 50k threshold, it’s 5% flex and 6% fixed. That is pretty darn good for xrp on insured platform.
However I did not see this bump. Rather I saw one of my fixes drop to 0, one fox paying 2% and my flex paying 1%.
It’s all messed up. Will try reaching oht to them again.
I preparing to pull everything off in coming weeks to prepare for the solo snapshot so hopefully when I put it back and start all new fix it cleans up.
Is anyone experiencing problems on nexo worh the xrp earn program? One of my fixed terms isn’t paying interest and tbe flex is paying no where near the daily percentage that I should be receiving.
Nexo said there is a glitch and I am receiving the right amount and it’s just not showing but I am not sure I believe that.
I am not a nexo coin holder. Nexo will add a tiered system in December to increase earnings if your assets over a threshold and if you agree to lock up you assets you get another little bump in earnings.
Now there is an option to buy nexo through their site using Bitcoin but the easier approach is to buy nexo on Bitrue exchange. They are an xrp friendly exchange and offer nexo pairings.
Personally I always felt that I would rather load more on xrp and earn less on interest because if xrp skyrockets, that will automatically increase the earnings potential. However over the past year or two, it was nexo that has gone way up and the users made more if they held the coins.
Tht is what I’m thinking too!
As you might know, the SOLO core team has been working on new technology for quite some time.
Glad to inform you that, we'll finally reveal more details on this new ecosystem on December 20th, 2021.
This will directly incentivize all $SOLO holders.
@realSologenic
#StayTuned
As you might know, the SOLO core team has been working on new technology for quite some time.
— Bob Ras (@bobrasX) November 29, 2021
Glad to inform you that, we'll finally reveal more details on this new ecosystem on December 20th, 2021.
This will directly incentivize all $SOLO holders. @realSologenic #StayTuned
I impatient solo will run up in price and tank days before tbe air drop. Then tbe questuon to us will be to we sell at a fraction of the price, or just hold and hope over time it goes back up.
Right now, if xrp is still kicking down at $1 or less and we get our solo, I am converting to xrp. More passive income but also Just more loading of xrp free of charge to be ready that day when xrp does run. We can probably convert all our solo to xrp while trial is still going on, then with positive outcome, cash out nicely
Solo will take a massive dump in price. Everyone is eyeing the price myself included and imagining their cash out prices.
My thought is to quickly exchange all solo for xrp. I am not aware of staking for solo so I don’t know if it can earn passive income other than buy and hold.
My thinking also is if xrp is going to be the foundation for airdrops, the more conversions to xrp, the bigger the position it will be for next airdrop if and when it happens.
Congrats on those cashing in below a dollar. I spent all my free funds Around 1.02 / 3 last week.
As much as I would love to load up more, it’s the holidays and Christmas shopping takes over :(.
Normally I would start rolling my xrp for fixed earn but am keeping it loose! Have to keep it liquid for the transfer solo air drop
I don’t believe you can do any xrp exchanges period on Nexo