Hey guys, don't be foolish and hedge short $BIO on @BioProtocol!!!
This means buying a large amount of $BIO to stake and then shorting it on the exchange to hedge against the possibility of the $BIO price dropping. However, many people aren't familiar with futures; there's a funding rate involved. When the funding rate is negative, the short position pays the funding rate to the long position, and vice versa when the funding rate is positive, the long position pays the funding rate to the short position.
For example, if the $BIO funding rate is currently 0.313%, and if you short with a volume of $10,000, you will incur a funding fee of $31.3 every 8 hours, which totals $93.9 per day!
So I think the best strategy is for everyone to just earn free XP on X and stake tokens; within reason, don't play with large amounts when the FOMO situation is clear, as the pie will get divided into smaller pieces!!!
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