Splinterlands | 50k Staked SPS Goal Reached !!!
I easily am able to let myself get carried away when it comes down to accumulating Crypto assets that one way or another give some passive income. After taking some initial Profit in the SPS I was getting from the daily Airdrop, I switched to staking it every day when the price started to go down. 50k SPS is somewhat of an arbitrary number but that is what I went for. 221 days into the Airdrop I have now reached my goal today.
SPS Expectations
It's easy to understand why SPS dropped so much in value as everyone who has assets is getting SPS airdropped each day in quite a generous way which brings less incentive to buy and more holders that are selling.
Looking at the chart, things now seem to have hit a flat line indicating a potential bottom. (which doesn't mean it can go a lot lower). The use-case right now is also somewhat limited in 20k Vouchers that are dropped to SPS Holders each day who now need to be used to get bonus packs on bulk purchases and will be part of future sales giving part of the value to SPS holders. There are staking rewards (+29.9% APY now) that come from inflation so it fully gets countered by supply that increases adding some selling pressure. More utility for SPS will also be introduced which means players will need to have a certain amount staked in the future for certain perks.
Right now, there is a total supply of 600 Million SPS (74 Million Market Cap) which will increase to 3 Billion (370 Million Fully Diluted) eventually as more SPS gets airdropped, unlocked, rewarded. It's really hard to put an exact value on what exactly it should be worth and a lot will depend on the eventual utility, how many new players come into the ecosystem and if SPS also will be the main token of future projects of the team.
All I know is that right now the price is quite beaten up while it now and in the future will provide passive returns. I'm personally have been taking profit on the Vouchers getting a lot ouf of it already and I'm am aiming to just keep the 50k Staked SPS in place for a long time to come. I'm not sure yet what I will do with the SPS I get above what I have now but I don't really feel like selling at these prices so I might just continue accumulating more to take some profit in case there is a pump at some point.
Conclusion
If you are getting SPS from the airdrop, I would say that at the current prices it's probably not a bad idea to keep it and stake it daily at least if you are planning to play Splinterlands for some time to come. As a general accumulation zone it might also not be a bad range especially sine you are able to get passive income when you stake your SPS from Staking Rewards (+29.9%) and from daily Voucher airdrops which easily can be sold on the market. Where it all will go I have no clue as it depends on a lot of uncertain factors so your guess is as good as mine in that regard. The devs have shown to be determined to give SPS good value and usecase and based on what they have delivered so far with the game. SPS for me is just part of a diversified Crypto Portfolio and I'm fine regardless what direction the price takes. Given the fact that there is quite some selling pressure, I don't expect the price to skyrocket in the short term but I do like the value proposition long-term.
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Posted Using LeoFinance Beta
Wow! 50K of most any crypto is quite impressive. I am not a gamer, so I don't claim to know anything about Splinterlands, but I hope it goes well for you, from here!
Are you involved, in any way, with the upcoming airdrop on Cub Finance, for PolyCub? On the Polygon blockchain?
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Splinterlands really has been a crazy ride so far and I feel I fully understand how everything works including all the risks. Where the money comes from, what is needed for things to hold up, grow or go in a decline and I know the team behind it is solid. When it comes down to Cub Finance, I simply don't understand any of these things and I haven't seen anyone properly explaining it. All I know is that there is a good team behind it and why the LEO token has some fundamental value with the burning mechanics.
When CubDefi came out I had a deeper look into it (See Post) making the conclusion that I would just hold the CUB I got airdropped staking it with no real interest to further get involved when the price was 3.8$ at the time.
It pretty much collapsed afterward going -90% and I haven't even bothered to harvest in a long time because of the Binance Chain Fees.
So right now, Cub or Polycub does not have a fundamental use-case for me that I know about, it has a history of collapse and I don't understand where the 1 Million dollars POLYCUB Airdrop to CUB Stakers exactly comes from. I'm sure it's possible that there is something there but I don't have the time to research and understand myself and I haven't seen anyone explaining it short in human language where I go "ok I get it now, this will be big". If you know an article that does that, please link it
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Great to see this ...
If you don't mind, then, could I get a little (presumably?) assist? Here is what I see in my Splinterlands wallet:
Tokens available to claim, right? Yet notice above "My Airdrop Points" all of the claim values are 0!? I have no idea how to actually claim these amounts showing as available. Do you have a link to some explanation for how I am to proceed?
Your frustrations with CubFinace are very understandable. And shared by others ... For myself, I have done 3 very simple things, which made a world of difference:
After that, the APR payouts have made the difference between making money and losing money. I have kept a spreadsheet (as I do with everything ...) and it tracks to the penny whether I am "up" or "down." Currently well "up" ...
As for PolyCub, I make no claim to being an expert, as one who actually knows how to go in, read, and interpret the code. I simply take Khal at his word that he (like would be true for pretty much anyone else) learned a lot through his experience with CubFinance and has put it in place for the launch of PolyCub.
If the PolyCub "tokenomics" prove successful, then he has plans to launch other EVM-based versions of it, e.g. Avalanche, Fantom, etc., as well as versions for LUNA and RUNE (ThorChain, which is where he is moving the original WLEO LP ...).
I have an overall level of trust in Khal and his team, from how he handled the "sneak attack" on WLEO v1 ...
All that said, please don't take anything I am saying as pressure to do something with which you are uncomfortable.
I am simply sharing what my experience has been.
Hope this helps!
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All info on the Airdrop can be found the SPS Whitepaper (Link) normally each day there is a snapshot and once it is done everyone gets their share of the daily SPS that is given which can be claimed. I have no clue if there is a minimum amount needed in order to get tokens airdropped. You should have enough to at least get some SPS I would say, You might want to ask in the Splinterlands Discord, I'm sure they can help you out.
Nice to ready that you are up, going in with conviction looking at the long run and keeping close track while adding during the dips for sure is the way to go which shows for you.
I don't have any doubts about the team. I'll have a look into https://docs.polycub.com/ as I would love to fully understand what it's all about exactly.
Okay, thank you @costanza. I will check into it, when I have the time to get through it properly (PolyCub launching shortly ...). I have 1,100 SPS staked, as I have just steadily accumulated them from other sources. I have never bought any of the Splinterlands tokens, so ... "Free" money ...
So far, in these now released docs:
So ... You can still derive some value from reading about what Khal is hoping to accomplish with the design of PolyCub - a total "ground up" rebuild of CubFinance (which he readily admits was initially passed on long since failed DeFis like Goose ... But ... CubFinance is not only still around, but looking to be the "foundation" for all of these future airdrops, beginning with PolyCub today ...).
I would focus on the details surrounding the importance of Protocol Owned Liquidity (POL) and Risk Free Value, as they are linked. These in combination with the "print" function being both capped and "deflationary" over time is the reason for my optimism.
No guarantees. We'll see ...
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🌄Good morning @costanza!☕ As promised, if I came up with anything further, I would come back here and "report."
It is not yet 24 hours after the PolyCub launch, but I have already seen enough. I have a much greater level of confidence now that this may prove to be the single best crypto investment I have made in my 4-½ yrs in these digital assets.
Long way to go, but I understand more clearly now (being very visual / hands on ...) the various mechanisms put in place from what Khal learned over this past year with CubFinance.
The best part (or certainly one of them)? Should this prove out over the next 60 days, he is prepared to quickly launch on another EVM-based blockchain. All the code is the same (well, very minor "tweaks" ...) and the CertiK audit would still apply. The airdrop will still be "falling" on those who have CUB in CubFinace. He has a very deep sense of loyalty, I believe ...
Take care! 👋
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FWIW, following up what I wrote below, here is the just released "docs" for PolyCub:
https://docs.polycub.com/
I will be reading through them myself. If I think I have any worthwhile comments, I will come back here and make them ...
Posted Using LeoFinance Beta
Congrats on reaching your 50K goal.
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Thanks for sharing! - @marianaemilia
Congrats for the milestone!