Moving my new SPS earnings to Diesel pool

By Bala | Bala | 2 Jun 2023

Every month I evaluate my earnings from the Splinterlands game and check how my account is performing. In the last few months, the rental income has drastically gone down. The game team has also introduced many new things to make the game a little more interesting for investors. One such thing is the DEC burning event which is going to burn a lot of DEC. Many people have already started participating in that and I believe this is going to be a great sink for DEC.

If the price of DEC improves, it can also improve the price of SPS directly or indirectly. I recently completed my goal of staking 100k SPS tokens. I was wondering what I should be doing with the SPS I earn going forward. I thought I should start booking my profits but then I thought we are still in the bear market and need an improvement in the price of Hive and SPS to take such decisions. For the time being, I thought it would be better to send the SPS to the Diesel pool.

I got this idea after seeing the rewards from the Diesel pools. The rewards happen directly on the SPS chain instead of the usual Hive Engine. They say that the APR we get on DEC:SPS pool is pretty decent compared to the other pools. I also have some liquid DEC sleeping in my account and at the same time I thought it is not wise to keep the SPS liquid. That's when I thought I should combine both of them and push them inside the Diesel pool for additional rewards.

I get close to 900 SPS every month from all the Diesel pools. With this additional deposit, I'm sure the earnings would go further up and this is absolutely a passive income that is going to grow gradually in the coming months if I keep contributing. Today I spent a lot of time organizing multiple tokens on my account. I was withdrawing all the tokens from in-game to Hive Engine and contributing them to the diesel pool.

I initially thought I would sell all the vouchers and convert them to SPS but then later I checked the price of Vouchers staying very low right now and gave up that idea. I'm going to wait and see for another month to see if the price improves and probably sell it after the price improves.

Every month when I look at this data, it is not very motivating. I'm able to see the value keeps going down every month. I'm not going to stop adding to the Liquidity pools at least for now. The reason is that we shouldn't be judging the price of a crypto token during the bear market trend. The cost would definitely improve when the market starts getting better. I can compare my account growth only based on the screenshot I took a month back.

Every time I write about my Splitnerlands earnings report, I also check the stats with their bot. It appears that the value of my account has gone down a bit but definitely it is not very bad I would say. Now is not the right time to book any profits even though I'm not playing the game regularly. Going to wait for that golden opportunity where I can sell the assets and make other investments. But not very soon. It can take some time but at least waiting for that itself is a motivation. I still have some hopes that one day I might again start playing the game.

If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Vote @balaz as a Hive Witness


Vote @kanibot as a Hive Engine Witness


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