Although I know Nexo I haven’t used their platform yet. On this board MindlessSelf is the one I know who uses Nexo. Im definitely planning on staking my XRP but Im not doing so at the moment. I want my XRP free and clear right now but when we breakout into the stratosphere Ill be more inclined to sit back and start staking my bag.
Yes, buying SOLO is a better exchange rate and read that some are doing this, which is why the price has been going up. Im not working that angle due to the amount of SOLO Ill be getting. Now swapping out your XRP for more SOLO for the snapshot to increase your XRP bag could work. Is it a risk though? Of course it is, so you’ll need to double check all the angles of the drop. Don’t forget that theres a cap of 400M SOLO being distributed; 200M to SOLO holders & 200M to XRP holders. SOLO holders will get the better exchange rate but don’t forget the distribution is capped at 200M. If more then anticipated SOLO holders are setting up trustlines what happens in that scenario? Will SOLO holders get less and how would it impact the ratio? I would think the ratio stays the same but the quantity of what everyone will get would be less so look into that. Also, if the SOLO price ends up pulling back the equivalent of the swap back to XRP could end up being less then what you had so be careful. If you do it quickly enough though it could work well. You just never know what can happen...always expect the unexpected. For example, when I swapped my XRP for XLM during the week the suit was filed I was able to get more XRP when I converted it back. The problem though was I only did a small portion of my bag. Thereafter I felt confident enough and sent my whole bag to Uphold to convert all of it to XLM and wait for the XRP price to settle and thereafter convert it back. The problem though was that Uphold froze my flipping bag and I couldn’t access it until I confirmed who I was in multiple ways, which took a few days. By the time my bag was unfrozen XRP dropped from the high .40’s to low .20’s and the Stellar price blew up because of the news they put out in working with a central bank in Ukraine. They went from .13 to high .40’s. I got nauseous when I calculated how much more XRP I would’ve got for just a few day hold of XLM. When Uphold finally approved my transaction I sent them a scathing email and broke down the numbers I lost out on because of what they did. Their reply was that they were very sorry but there rules were put in place for a reason as they were new KYC laws. It took me a few days to get over it but thats how the cookie crumbles sometimes so always expect the unexpected.
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