hello everyone so a lot of people right now are staking ohm so what does it mean it means that you are basically buying some oihm token and then um you're holding it and by holding it you just earn some percentage um so it's kind of like similar to like deposit but of course the percentage is not like three five percent it's like it's massive so a lot of people earn a lot of money but the one thing is that is that you need to buy ohms through their website or their app and then you need to connect metamask wallet and for that you can connect metamask wallet and you pay massive ethereum gas fees you can buy like 300 dollars like fee if you put like 300 dollars into or hm is taking of course maybe it can be worth it but there is this work around you can buy and stake or hm with close to zero gas fees so you can buy avalanche on coinbase or binance then just add avalanche network to metamask so it is possible to change like there are different networks in your metamask account and then you can just add avalanche network not ethereum network avalanche and then just send your evx to metamask address and then you can swap avask avax avalanche for vsws ohm on trader joe xyz.com so wsohm is wrapped stacked or hm so it represents the value of the current index multiplied by the current price of the ohm and the index increases with every base three x diode your stacked earnings are directly deductible from the index so there you have it so the current wso hm value represents the day one stacked value of one hm as a current index uh meaning if you stacked one or hm at day one you'd now have 28 27 ohms so but it's not like that straightforward so a lot of people are doing that so what i would say if you want like if you're thinking about like something like ten thousand dollars like putting in or hm might be less as that's maybe that's a good approach or like putting hundred dollars putting a thousand dollars maybe just try that instead of buying like five hundred dollars in gas fees but there is a few issues here so be careful so liquidity might be low for ws or hm so slippage might be high especially when you're sell so there is slow liquidity and then for example if you uh have like 20 000 uh dollars worth of wa s or hm you can only sell it like for 15 000 so there is like a massive slippage there while like if you buy a big ethereum gas fee there is no that slippage so if you're thinking about investing like i don't know 50 000 there um there won't be like that big fee with it's your gas fee but if you're doing it with ws or hm then there will be a massive fee so it can cut like 30 percent uh you will need to import ws or hm address in trader joer buying wsohm is not as fun as buying rhm and watching it grow so there you have it so people putting it here please don't buy on avalanche you're losing money when doing so so for example as you can see here if i like if i want to swap one wsohm then i only get twenty thousand dollars or something while i cropped stacked olympus price is twenty nine thousand so literally like thirty percent plus like 33 percent is like gone if you're buying ws or hm so you just need to keep that in mind if you're planning to do that but of course um that that's like that's huge slippage is if you invested like bigger amounts i think or maybe i'm not right like if you probably if you put like 100 or something maybe just a good start to start with avalanche and when you figure it out and you see some progress then you can try to do it properly with ethereum like uh visit your gas fees that once there is bigger amount and you won't have that big sleep edge so there you have it there is also some other things that it probably makes taxes easier like so after a certain size of trade it might be very well make more sense to buy ethereum gas fees because your price slippage on ws or hm will be bigger than ethereum gas really depends on the liquidity by the outside the cutoff is around 10k right now so there you have it so yeah so if you have ws or hm like 30 000 there like you can only get 20 000 so there you have it so yeah there is also like some guys saying like you can buy avalanche from directly inside coinbase wallet and then use it on avalanched apps right in the that browser without manually adding a new network just one install check it out um uh so yeah that's that uh so hope this quick overview was helpful like if you guys are thinking about buying ws or hm or you did it just leave it in the comments below like um what do you think about this way and because i'm just reading from this guy that craig and there is a lot of discussions there are already a lot of videos on youtube and a lot of advice exactly how to buy or hm just this yeah justice avalanche network and avoid this extreme ethereum gas fees so there you have it hope this uh quick overview was helpful um there are also some other like uh like tokens like that there is time uh there is memo you can stake all of that but i think olympus at the moment it's still most uh like popular token in that like stacking category so it's this stuff is a bit more advanced like crypto stuff because yeah you can just buy bitcoin but like crypto is becoming so more advanced that of course people creating new tokens every day probably and to get the popularity they give you some rewards if you just hold it and don't sell that token so that's the whole idea like if you just hold it you can earn some percentage but of course you still need to look at the quality of the token you need to go to discord channel you need to try to like understand what's the use of it you can need to go to github and look like how many forks are there like is it a really good product and all of that so probably you need to do your own analysis and decide for yourself is it really worth it or yeah don't just probably go for some things on twitter or something like that of course you can discard a lot of ideas but yeah just do your own research so that's that hope it was helpful
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