Working on the big PENSKE project
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I changed up my delegating of sgb to ftso.it and A-ftso and my earnings are still scraps. Not sure how much longer I will keep this up. Still waiting on my sgb from nexo. Will pool it all together and continue a little longer….
It’s not until the 20th
Solo is 1/20. If it doesn’t come on that day and you have your own trust line then there is a problem.
Exfi was the date today? I did see that elsewhere. For me, sgb and exfi are being handled on an exchange so the exchange gets it day 1 and then I am at mercy of exchange on when they feel like distributing. For solo, I was tired of begging so I set my own trustline up so that I know when I will receive solo.
What I don’t get is nexo provided us a form to provide our address for both the sgb and exfi airdrop but we were slinky permitted to send one address. I asked bith nexo and Twitter and the answers I got back were that they use the same wallet address. I couldn’t understand how two coins can go to one address but that is what they told me and I had no way of providing that second address
Ok wow! Will do
So confusing. I wasn’t sure if I changed before the delegation period ends that I would lose all my pending rewards
Holy shnikies. Thank you! After this delegation period I need to change it up. I had no idea there were earn statistics. My wallet just said pick with no details
When you delegate sgb, there is no mention of what the payout earn will be. There is a list to choose from to delegate to. Do some reward more than others ?
Well see I still haven’t received anything from Nexo. Maybe something king in behind the scenes I don’t understand. I really don’t believe my stuff was at uphold for the snapshot but time will tell
I may be in the system twice. I just confirmed with nexo that they did not distribute any of the sgb yet. Announcement of date will be soon. They also will distribute the exfi on our behalf.
So the phantom sgb air drop in my uphold is most mysterious. This was not a small chump air drop. I have been accumulating xrp for 3 years and I thought it was mine. Now I’m told mine is STILL coming
I never set myself up for that one. It was too late for me. You sure you met the snapshot deadline? When was the airdrop scheduled to happen?
I just moved Moved my xrp from XUMM. Back to nexo just now. We are clearly over the hump of when the snapshot was taken.
Solo may crash and burn once distribution takes place. They are trying to incentivize us by holding it and we will receive another airdrop of coreum monthly over a prolonged period. I’m in it far enough that I will do it, but I feel like we will hold solo as the life gets sucked dry oht if it to earn another token that god knows what it will be worth. And then when we think we can finally sell, they will tell us to hold it for another airdrop.
Kind of like an airdrop pyramid scheme
Well that is the funny part. My snapshot was done on Nexo and they said they are honoring the sgb and exfi drop together for their xrp holders who qualify. As I understood it we would be receiving both in January. I provided nexo my bitfrost wallet address.
Suddenly yesterday I get an email that my sgb airdrop was received at uphold. The amount I received seems consistent with my xrp holdings at time of snapshot.
So I am confused why I received it now and why to my uphold wallet which I never provided Nexo.
If my xrp snapshot was done with uphold, I would have already received the sgb much earlier.
There is no information from sender other than sgb airdrop.
If you are setup, I think it already happened. If not, don’t sweat it. I think the quantity of solo that you would receive equates to 1% if quantity you hold in xrp
I think it’s already been done now.
Dec 24th, 2021 at 8:00 PM UTC we will take a snapshot of the XRP Ledger and scan the accounts with TrustLines to the SOLO Gateway.
Writing this post it is already 3am dec 25th in this time zone.
I got my sgb yesterday. Was so excited I wrapped immediately and delegated. Today I am thinking what an idiot. I should have converted it all to xrp just in time for the snapshot, then put it back to sgb and delegate. Oh well hahahahah
I just got sgb yesterday, wrapped it and delegated on some of the networks they suggested. Can I use bitfrost for tbe exfi and do the same thing or is there another way o should be delegating it?
I am sorry while we hold solo, the value is going to get sucked right out of it, and these coreum tokens may not have the value lost from solo. …….
When is the snapshot and distribution date & time?
A: On Dec 24th, 2021 at 8:00 PM UTC we will take a snapshot of the XRP Ledger and scan the accounts with TrustLines to the SOLO Gateway. Those who have the TrustLine established will be on the list to receive the tokens on Jan 20th, 2022 at 8:00 PM UTC.
Snapshot is today if not already. 12/24. I don’t know the exact time.
Uphold is participating in the solo airdrop yes.
I gave Nexo my bitfrost address for sgb airdrop and thought it was coming in January. But for some reason I got the airdrop oh uphold yesterday.
I’m not sure why I got the sgb on uphold and not the wallet I designated to Nexo to send to.
I either received someone else’s or something else is going on with snapshot I am unaware of.
Nexo never said they would participate with solo so I was sure to move all my xrp ahead of time for the snapshot. I am not begging an exchange for an airdrop. I had to with sgb because because it was an airdrop off an airdrop that I had no way to act on.
Have any xrp holders here who used Nexo at time of FLR snapshot received their SGB?
I provided my Bifrost wallet address to nexo and I got a deposit of my sgb today in my uphold account. I guess I don’t really care which address they send it to, but I thought they were sending the sgb and exfi together in jan 2022.
So just curios if any nexo xrp holders received their sgb today ?
Yeah but as soon as I started to look at the other earn/borrow platforms they all scaled back. So maybe I keep 50k at nexo and figure out what to do with the rest or I find some way to wrap and delegate it. I didn’t want to make it so freakin complicated. I Just wanted to park it somewhere and have it earn.
Clinton Donnelly. Crypto tax expert. You can find him on Twitter. I actually talked to him on Twitter on a group conference he held.
He said to handle Flare this way.
I truly do believe that airdrops are gifts fro foreign entities. You did not purchase them. You did not promise money or services for them. They were gifted to you. Pretty sure they are in UK. And if I guess you are in US then it does fall under foreign.
I am told there is an actual tax form for gift from foreign entities. My plan os to declare them and pay no taxes on it. If they challenge it, I don’t think you can be penalized on it since they were declared and there actually is a good case to be made to challenge irs
I would have to imagine that plan was in place prior to announcement of solo airdrop.
The solo drop is not as large in the grand scheme so I may hodl it for the new token and see if I can get them working for me passive incime.
I don’t think the value will be there for me to convert to nexo since the payout is not very big. I think the solo airdrop is estimated to be 1.3% of your xrp holdings in number of tokens distributed.
Nexo totallh screwed my plans over so I need to reevaluate. They capped their earnings at 50k USd. So no matter how well xrp performs, only 50k usd worth will get a decent earnings and the rest will get 1%. So that completely scraps my passive income strategy with xrp. And I don’t really want to sell it even if it does hit $10 so I need options
My friends are very traditional. I got a few into xrp but that is as far as they go. The solo airdrop they couldn’t wrap there heads around and I don’t think their xrp was big enough to make them motivated. If I tell them the big news is there is yet another airdrop off an airdrop they will stop listening entirely.
The airdrops are getting absurd. Can’t they just build the back end stuff to boost the performance of solo and not have to declare another token?! I mean am I supposed to be more excited about solo or coreium because they are now two separate investments going forward
Here is what I see happening and I am going to fall for it myself. The air drop is done and the value is not holding. So they announce another airdrop of the airdrop to get you the hold. The holders are holding the bag as the value gets sucked dry. The day traders are in and oht taking all the profits.
I have been thrown into this because I am a long term xrp holder looking for financial freedom. I don’t know if the best thing to do is just convert everything into xrp and find the passive income machine for xrp.
I used XUMM wallet for solo airdrop. Do we have to open a separate trustline or just leave the solo where the snapshot happened and we automatically qualify? Didn’t know if I had to transfer it somewhere else that is setup to receive coreum.
I don’t know what I am going to do. So many airdrops now hard to tell what is going to be worth anything. That is not very exciting enough to prevent a mass exodus of solo after airdrop for profit taking and conversions to xrp.
I am not sure what I am going to do, but if solo crashes 90% and my distribution amount is in fact only 1% of my xrp supply then i may consider holding.
You need to activate a solo wallet. I assume it is still 10 but I know there is or has been a vote to lower this number so maybe it is a little less. They do this to avoid spamming the network with fake wallets.
You will need 10 for that. Because it is a direct link to solo I would assume no trustline is necessary.
Dshade this are options that will have to be explored. My wife is clueless with anything money related. I’m terrified what may happen if something were to happen to me. Half our assets, poof gone in the wind she doesn’t understand all these accounts. I try and sit her down and she won’t do it.
Makes me wonder how much crypto is lost do to death and divorce and lack of l knowledge
They both work just fine. I have solo one too but I got the XUMM for this. If for some reason I keep the solo and they incentivize solo holders with staking we may need that solo DEX wallet.
XUMM is a good one to have because it is direct link to Ripplenet and if future xrp projects emerge and they continue to airdrop, XUMM is a good one for setup. They are vetted projects and creator has worked with ripple (creator of xrp tip bot)
Nexo has been good to me last year but they have significantly scaled back the earning rate. Anything over 50k in usd value gets knocked down to a measly 1% or if you lock it up a month a whopping 2%.
So now I am tempted to move the air drops into Nexo token and try and boost my thresholds of what can earn in tbe 5% range. Or I need to figure out where to move my xrp after this airdrop to earn passive income. All exchanges offering earn have slashed the rate. I may have to go into it more technically and wrap and delegate on flare network. I didn’t want it to be complicated. I just want to stick it in a wallet and earn a great return and be done
Bitrue. They come oht and announce support of all the airdrops almost immediately. They are participating in airdrop on behalf of their xrp holders
I was thinking Bitrue. One scenario, receive solo, convert to xrp and send to Bitrue, and there is an xrp pairing. Buy the Nexo and then send to nexo
There may be a smart play, but I don’t ever risk playing any games with xrp. I am way too far invested in time and money. I think when it takes off it will run and I am not chasing it. Buy and hold. Solo may be a great coin too but I don’t know enough about it yet. And I am not messing with the volatility that airdrops bring unless it creates a buying opportunity
Go on to XUMM, click on the solo coin you added and you can see send or exchange. I mean literally in seconds of receiving solo it can be swapped right for xrp.
It’s going to be very tempting for anyone on XUMM to just convert it right to xrp. They are all xrp holders as is. Some just hearing about solo.
I want to convert but I worry solo will crash in short term from air drop and we may be converting it after it has suddenly lost 80% of its value. Is it better to just hold it as another diversified asset and try and get that earning passive incime.
I’m also debating converting it to Nexo to boost my earning potential back up on my xrp. Nexo just struck a deal with fidelity. They are getting very legitimatized in lending game
If you are holding xrp and not selling anytime soon, take the solo airdrop. At the very least take it and you have ability right in the XUMM to instantly convert to xrp.
I haven’t fully decided yet what I am going to do.
So you have your trust line? It’s 10xrp to activate the wallet, then add a coin, select sologenic and then solo, and it cost another 2xrp to set the trust line up and then you are done. Just make sure all your xrp is sitting on XUMM for the 12/24 snap shot.
After that date is secured and the snap shot is over, we can move our xrp off XUMM if so desired. Everything should be satisfied for the solo airdrop on 1/20
I just moved the lions share of my xrp onto XUMM in preparation of solo snap shot. Heart always stops a few seconds when you move a lot of money in one click and you don’t see it on the other side for several minutes.
That is why I do like the white list feature on Nexo. I did some test transfers the prior month so I know it works and then feel more comfortable just select an address to send to rather than cut and paste