Sirwin
Sirwin

Splinterlands | 150k Staked SPS Goal Reached !

By costanza | costanza | 19 Oct 2023


I continue my accelerated accumulation while everything is down and on discount in Splinterlands. Today I reached my goal of 150k Staked SPS and I have also been buying some more legendary Summoners & Cards.

 

 

Cheap SPS

In theory at least SPS should be cheap right now assuming the game survives the bear market (which I don't doubt) looking at it from a 3-4 year time-frame. The entire dynamic that there will be some poit in time where SPS has to get burned in order to mint DEC makes it so that the price can go up without this meaning that the market cap will go up. At a maximum of 3 Billion tokens that ever will be in circulation, it means a 42 Million Market cap which is considered very small in crypto especially knowing there will be multiple products attached to it. Also a big part of the inflation toward that fully circulating Supply is given out as staking rewards.

 

With part of the revenue going to the DAO it also means there is some fundamental value inside of it and the Rebellion Pre-Sale sales sp far are hopeful with 250k packs sold. On top of this, staking gives vouchers and potential more airdrops in the future.

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While I didn't expect the price to get much below 0.02$ which again as that is my buy zone, it's now trading around 0.014$ wich gives me some fomo actually. So I stepped it up with another 10k+ SPS buy bringing in new money into the ecosystem.

I continue to expand my goal as the price goes down as there is an actual opportunity to reach it. First I had it set at 100k which I reached a long time ago. I afterward increased it to 150k and now I will continue accumulating with a new goal of 200k Staked SPS.

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While it for sure is possible for things to go down more, the lower the SPS price gets, the higher it eventually should go in the longer term as more SPS will need to get burned.

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I also started to track my actual SPS earnings each week both from Staking and playing which currently brings in around 10$+ a week in case I would sell it. The aim is to keep increasing this over time.


Card Accumulation!


In the last report I delayed this a bit as HBD was trading under peg but ever since, I managed to complete my Level 3 Lili ShieldPaw Summoner and am working on my Immortalis also. For those I continue to use blogging earnings in order to finance them so those earnings stay within the ecosystem and really help a ton!

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I managed to get 4 extra Lily ShieldPaw Cards at the average price of 8.975$

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I also leveled up my Epic Forgotten One from Level 2 to Level 5 as it's one of those cards I kept losing against whenever there is the poisoned game rule paying 12.5 Dollar for that.

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Finally now, I'm patiently waiting for the Immortalis to be dumped for 10.5$ or below that picking 2 of those up with 2 more to go in order to get it to level 3 also.

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There are still some more cards that I need to get to have a near-complete Chaos Legion Gold Set of cards. It is frustrating to see how cards continue to lose value but at some point this should turn around even though I'm not expecting crazy prices similar to the last cycle. I do enjoy playing the game and actually see them more as an expense instead of an investment given the opportunity cost (other assets should go up more)

 

 

DEC Accumulation

 

DEC right now is much closer to peg and I stopped actively buying it. I did get some cashback from monstermarket.io which I added to my stack with an eye on Land 1.5. This now puts me above 103k DEC saved up and I will be looking to put some time again in potentially getting some cards rented out as I have been totally neglecting that.

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Conclusion

For me, Splinterlands is still in the accumulation zone which is what I continue doing having good faith in Matt and the team to turn the ship around at some point in time. If things go lower I will for sure buy more with no direct intention to sell anything.

 

 

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costanza
costanza

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