The goal of this week's Splinterlands Social Media Challenge is to understand what may have led the SPS token—the governance token and main token of Splinterlands—to rise by more than 20% in such a short period of time. After all, all players, whether newcomers looking to accumulate more tokens or experienced players who already have a good amount of tokens, care about the direction SPS will take.
So, let's begin by delving a little deeper into this $SPS rally by analyzing the token's one-month chart. Next, we'll address one possible cause, which could be the recent governance proposal from the company behind Splinterlands to create a new mini-set using SPS. Finally, we'll address the second possible cause, which was the addition of the bridge between Splinterlands and the Base blockchain network, allowing access to the game through a new blockchain, thus reaching four different blockchains! Come learn all about this recent $SPS token surge and the recent events that may have caused this 20% increase!
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[ENGLISH VERSION]
SPS price rising
What motivated me to choose this theme was when I saw that Splinterlands' main token, $SPS, had risen significantly in recent days. We can see from the chart that the rally began shortly after August 25th, approximately five days ago, the exact date a new proposal was announced in Splinterlands by Steem Monsters Corp. to create a new Mini-Set. Shortly after that, the token went from around 0.0075 to 0.0086, with a one-month increase of over 20%.
Due to the possible connection with the proposal and perhaps the arrival of the new bridge with the base, this rally becomes highly speculative, possibly depending on several external factors that materialize to maintain this new price level, and of course, on the stability of the crypto market. Other details we can observe are that on CoinMarketCap, SPS is ranked 1097, with a market cap of $11.45M and a daily volume of $33K.
New Proposal for a New Mini-Set
Five days ago, on August 26th, content was created about the proposal to the SPS DAO regarding the creation of a new mini-set by Steem Monsters Corp, the company responsible for creating Splinterlands. This time, the cost will be higher than in previous ones, with the company charging 1.2 million DEC tokens—a type of Splinterlands stablecoin—for design, development, and all operations. A major difference is that the focus will be on the SPS token, with the proposal defining fixed SPS values for each pack, meaning: Standard is 5,000 DEC = 350 SPS = $5, which would represent a value of $0.014 for each SPS. The other packs will likely follow the same ratio, with Alchemy costing 20,000 DEC, 1.4,000 SPS, or $20, and Legendary costing $25, 1.75,000 SPS, or 25,000 DEC.
The goal of this is to create a greater demand for the token, which can be used to purchase the packs, by offering a discount on pack purchases with SPS. Furthermore, since SPS will be allocated to the SPS DAO, it will be able to use these tokens to fill the reward pools in the future when the SPS distribution ends. One point of concern would be the DEC, which is generally used for these pack purchases, which helps maintain the parity around 1,000 DEC = $1. Will it be impacted? But I think it's interesting to use the game's main token, because by increasing demand and the token's value, it also serves as a form of marketing.
Addition of the Base Bridge
Briefly, another new development that may impact the rise of SPS is the addition of a new bridge to the BASE blockchain, allowing players more flexibility in choosing the network to send SPS tokens. This means the game is present on more networks, meaning that Splinterlands is currently available on four different networks (Hive, Ethereum, Binance, and Base). The more networks, the more communities will come into contact with Splinterlands, not to mention that they're building their own network, the SPS Chain. With more access to the game, it's quite possible that there will be greater liquidity.
