Taking my first steps into Cosmos, (Atom)

in LeoFinance • 3 years ago



This is a step that i have meant to take for a long time.




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On Leofinance you see different people posting about different projects on a daily basis. Some good, (Rune). Some bad, (All meme coins, I own 138,000 CORGI) so it's hard to pick and choose which advice or paths to follow.

For me it usually comes down to how much it is posted about and by who is doing that posting. If i see people posting regularly about a topic after they have already had a lot of success in this field then it makes it easier. That gets me interested in the project and looking deeper. If i see long term value and real use case then i might actually jump in.

Atom and the cosmos eco-system is one that has been posted about a lot over the past few months by various dependable writers. That is never a guarantee of success but it gives me enough background to jump in a bit deeper. The price has dropped form it's recent highs and this seems like a good time to get involved.

I have meant to take a look at the eco-system properly for at least four months but never took the time. Today I am going to make my first dip into those waters and see what can be done.



What is cosmos?



We believe in interoperability and autonomy over siloes and monopolies, collaboration and innovation over competition and status quo. Rather than a web in which value is created by so many yet captured by so few, that value must be exchanged, stored, and secured between parties, without relying on centralized servers. Cosmos is the first fully free platform to enable this.
Cosmos website:



While there are lots of people that have been writing about the subject, @jk6276 has been consistently giving a helping hand in his posts and it was the top search when i input cosmos/atom/staking/leofinance

His post,
Getting started in Cosmos (ATOM) - Beginners Guide is a good starting point and helped me to get set up.


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After reading through it i did the basics to make my first steps into the eco-system.

  • Bought 10 ATOM on crypto.com.
  • Downloaded the Keplr wallet.
  • Transferred my ATOM to the wallet.
  • Went to Osmosis.
  • I will exchange my ATOM into OSMO, SCRT, JUNO, ATOM for pooling or maybe just stake to wallet for now.

I am going to leave this at the further research stage now that i have ATOM and have connected to Osmosis.

The next step will be to do more research and figure out how best to utilize the tokens for airdrops and rewards.

Once I get past this step i have a few more funds that are not up to much right now and i can deepen my involvement.

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3 years ago in LeoFinance by
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         3 years ago 

        Maybe you will be the catalyst for me to take the time to get involved with this one as well. I've always like ATOM for some reason but have never really put in the effort to learn about it. I see these posts pop up in LeoFinance and I keep telling myself to check it out but...I never do.

        That said, I have been doing small autobuys on it for a while now so I've actually built a small bag. But from what I understand, the real value is using the platform and staking it or whatever. That's the part I need to spend some time figuring out.

        Like I said, hopefully you posting about it will be another prompt to get me to do the research. I second the motion that you continue posting about this and letting us all know how it's going.

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               3 years ago 

              I'll let you know how it goes. It's one that i have heard a lot about this year and meant to do for a while.

              I'll do some research and see where it is easy to get some returns. The fact that you have some already should definitely be a catalyst for you to start earning returns.

              Buying is good but compounding is the real key to growth. Hive makes it easy here but atom is meant to have some good returns and a lot of airdrops if you have it staked in the right place. That's where i will be looking.

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                     3 years ago 

                    Nice! Yes, definitely let me know what you find out.

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                           3 years ago 

                          Congrats for taking the step! I'm not the Cosmos expert JK and others are, but I've been involved in the ecosystem for more than half a year now. Let me know if you run into something where you need some help/advice.

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                                 3 years ago 

                                Thanks @gadrian. I've been watching JK for a long time and just never sat down and made a plan to jump in. That's where i am now.

                                Any help is appreciated. If you can steer my towards the best places to stake for returns or how to be eligible for upcoming airdrops it would be a great help.

                                Those seem to be the strong points to the ecosystem.

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                                       3 years ago 

                                      Most airdrops on Cosmos include a portion for staked ATOM. Then staked OSMO or lately bonded liquidity on OSMO became requirements for airdrops. Staked JUNO is another popular option among new projects that airdrop tokens. I've seen staked LUNA a couple of times too. That's from the big options, but sometimes there's another more exotic option as well, but you can't go wrong with the major ones for airdrops.

                                      About returns, just look on Osmosis and pick the LPs you prefer. Make sure you check APRs for all 3 durations, the one listed at the top level is the APR for the longest period of bonding, for 14 days. You used crypto.com to buy ATOM, you might have some CRO on there and there is still a significantly better APR in the LP on Osmosis for OSMO-CRO than crypto.com offers on their app.

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                                             3 years ago 

                                            Right after I finish my taxes next week, I'm going to look into some DeFi projects and some of these newer blockchains that I haven't been paying attention too. Hope you do some follow up posts and let us know how it's going. Cheers

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                                                   3 years ago 

                                                  It's a good time to expand a bit and check out some other projects. I'll do some research for the next few weeks and keep the posts coming.
                                                  Cosmos had had a lot of good press around here so its top of the list.

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                                                         3 years ago 

                                                        Looking forward to your posts. I've heard a lot of good things about Cosmos as well. Looks like a solid one!

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                                                               3 years ago 


                                                              The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

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                                                                     3 years ago 
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