For this week's Splinterlands Social Media Challenge, I decided to talk about the current situation of the game's tokens and NFT cards. Now that Bitcoin seems to have found its strongest resistance at $100K, it's a good time to analyze what this bullrun meant for the Splinterlands ecosystem. Were the tokens able to take advantage of this gigantic rise in BTC, passing its all-time high, and what happened to the cards? Come check it all out!
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[ENGLISH VERSION]
Splinterlands Token Situation
Since Bitcoin is the token that guides the general situation of Cryptos, it is interesting to start talking about it. After breaking $100k, it has been going back and forth between $90k and a little above, that is, it seems to have reached the value it had the strength to reach and which is, by the way, a historic feat because it passed its historical peak and reached a significant value. Now, will the tokens of the Splinterlands ecosystem follow this bull run momentum, like some L1 tokens like Solana or BNB? Solana went from less than $20 to more than $200, a 10x.
We can see that in the period of the last 60 days, DEC came close to the PEG of 1000 DEC = $1 twice and then returned to close to $0.8 again. The SPS, which suffered a lot by falling below $0.01, managed to overcome this “barrier”, reaching close to $0.012, but soon fell again, one day reaching $0.006, a complicated situation for the token that is the game's governance token and that theoretically should be the main tokenomic pillar of the entire ecosystem. The Voucher, after being linked, a situation that generated a lot of controversy in the community at the time, has now increased in value, remaining above $0.01 consistently over the last 2 months.
DEC x Bullrun
Splinterlands' economic system depends on the game's ability to develop new products that attract the public to spend DEC, making Supply of DEC decreases, since they spend DEC on products such as Cards and Packs. We can see that over the last 120 days the supply of liquid DEC has been decreasing steadily, with some sharp drops on some days, which is great and the reason is the addition of more products.
In this sense, we have had some recent news such as the addition of the Auction House that sold the Heloise The Hollow Card for very high prices in DEC, well above 1,000,000 from DEC by letter. The more new features are added and the more demand there is from players, the better, because the supply of DEC decreases, causing its price to rise and when it reaches the PEG, the Flywheel starts to work.
SPS x Bullrun
The functioning of the Flywheel is of great importance for the SPS Price, because when DEC reaches PEG, players can exchange SPS for DEC, causing the price of SPS to rise and if the demand for DEC remains high, it causes the price of the Token to rise sustainably, since they exchange DEC for in-game items that have subjective value, given by players. We can see an example of Flywheel on the day DEC reached PEG was exactly when SPS reached $0.012.
However, there are some points of doubt that may be causing the token not to rise and that are important to mention. The first of them is in relation to Supply. The token is below 1 cent, with 40% still to be minted, not to mention that it is not very clear what will happen after the token finishes being distributed as rewards and Stake Rewards. Furthermore, the implementation of the SPS Chain is missing, in which the main token will be the SPS, giving it a new utility as the main token of a network.
