Splinterlands | The Road To 150k Staked SPS (Buying More!)

By costanza | costanza | 8 Jul 2023

I reached my goal of having 100k Staked SPS in Splinterlands around 8 Months ago after which the price continued to trend down. Right now with SPS getting more actual use case, I'm buying more with a next target of 150k SPS on my main account.



Current Staked SPS!




After reaching 100k SPS Staked on my main account, I unstaked what I earned above that and shipped it over to my alt account until that reached 20k. After that I started unstaking everything above 20k on my alt account to ship it over to my main account and stake it there.

While I don't have the exact numbers, I would say in 8 Months, I roughly earned 30k SPS from Staking rewards, Ranked Play, Brawls, and Tournaments. So the price dropping from 0.0413$ to 0.0186$ at least somewhat got compensated by the farming reward and also not unimportant the GLX Airdrop and The Vruz Airdrop.


SPS Price Action


When it comes down to Crypto, nobody really is able to call the bottoms or the tops exactly which is why cost-averaging generally is a good strategy. I tend to set myself goals on how much I'm aiming to accumulate and once I reach that goal I'm pretty much done unless the price really continues to go down a lot more while the fundamentals don't really get worse.

The great thing about crypto is that you can have assets that bring in passive earnings with those increasing along with the price for a double win. This doesn't fully go the other way around as if there are decreasing earnings and lower prices, you are still at least earning some. Basically, if you can get in on something near the lows, you easily are able to get your investment back.


GLX 365-Day Airdrop



I have systematically been selling the GLX Airdrop on converting those earnings to Hive and at times using them to get funds for more cards (Level 3 Jacek / Level 3 Astral) 150$ worth of cards for my nieces, 458$ profit-taking to buy other coins outside of the Splinterlands ecosystem and a couple days ago also adding soms SPS.


8 months ago, the price of GLX was 0.24$ because players were chasing the high APY from the farming mechanics and the price always was going to come down a lot as that is how these farming mechanics unfortunately work. So from 0.24$ to now 0.024$ is a 90% price drop which means farming needed to give a 10x in the number of coins in order to compensate on that. With a maximum 2 Billion coin supply, right now that would put the market cap at 48 Million which probably is way too much still so I will continue selling with 125 days left into the airdrop. I would say that I earned well over 1000$ in airdrop rewards based on what I sold so far which has been a big compensation for the SPS price decline.


SPS Delegation

Since players need to have SPS Staked in order to maximize rewards, a delegation market was created which offers another passive earning opportunity for SPS and a reason for investors that don't actually play the game to buy the coin and get returns.


Since the requirements to reach the next multiplier tier tend to go exponential, it probably is best to aim for a lower multiplier and rent out everything else on top of it


I have been ready for a while for the SPS Staking requirements and I'm actually happy to stay around the x10 Multiplier which means I potentially can put extra SPS that I get up for rental to earn some DEC.


Right now the price delegation goes for seems to be 0.009 DEC for each SPS for Each day and most requests come from bot owners who need just 150 SPS in order to mine most efficiently in bronze league. At 7.397 DEC (0.006$) earned from delegating 150 SPS for 7 days (2.8$) this equals 0.312$ or 11.1% Real Yield. If I'm not mistaken, the voucher generation and farming rewards remains for the actual owner of the SPS so quite expensive to rent knowing you also need the cards but I guess at the same time it's still profitable enough as bot owners are doing it and they mainly care about returns.


Vouchers & Vruz Airdrop



I continue to just stack the vouchers and at moments when I can use them like the Vruz Airdrop I put them to work. So far on my main account I have over 1180 Vouchers accumulated. Their current price is $0.0391 so that equals roughly 50$ of extra value.


So I got a total of 97 Regular Vruz Cards (0.34$ each) and 4 Gold Foils (4.10$ each) which required 101 Vouchers but gave a total value in the game of 50$ also.


Plans Going Forward

I so still like SPS as a long-term hold as it gives at least partly real yield while it fundamentally is deflationary in case you looks at the max supply and the upcoming flywheel mechanic. The price really got beaten down which made me start buying again on top of the accumulation from what I earn in the game already. I do aim to reinvest earnings (from Blogging / GLX / SPT / Rentals / SPS Delegation...) and convert them into more SPS as long as the price is below 0.02$ as I would be highly surprised to see it go much lower again.



Current Progress




Even though SPS dropped quite a bit in price since I reached my 100k SPS Stake goal, I did manage to get a ton of earnings from it in the form of Staking rewards / Vouchers / Vruz Airdrop / GLX Airdrop / ... which all are things hidden from the actual chart. I still very much believe in the potential of the game going forward even though there clearly are some flaws (mainly the AI bot issue). In situations like this, a decreased discount price while there was some bullish news is the sign to add to my holdings which is exactly what I will be doing with an eye to reach 150k Staked SPS and maybe more going forward.


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