Splinterlands Burned One Million HIVE In 2021 For Creating New Accounts | Data On Account Creation

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At the moment Hive accounts can be created with Resource Credits (RC) if the account has enough Hive Power to claim accounts, or they can be created by paying an account creation fee that at the moment is 3 HIVE. Creating accounts is the most expensive operation on the Hive blockchain in terms of RCs.

A lot of Hive users have been claiming accounts as creation tokens, especially the larger HP holders. With millions HP some of the whale accounts were holding 50k, or 100k account creation tokens. But when you have more then 10k new signups per day, those account creation tokens go away fast.

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Splinterlands have seen a massive growth and influx of new users. All of them need Hive accounts to play the game. Because of this the game has been creating around 10k Hive accounts per day in the last weeks. The account creation tokens were not enough to cover the demand and Splinterlands was simply paying the blockchain fee for creating accounts.

Here we will be looking at:

  • Number of overall accounts created
  • Accounts created for a fee and “free” accounts created with RC
  • Overall fees spent for creating accounts
  • Daily, monthly and yearly data

I decided to take a closer look into the account creation fees after my recent post on the HIVE Suppy, where I noted that I haven’t taken into account the fees for creating accounts. At the time I was thinking that this is a low number. @ausbitbank run some queries and pointed out in the comments that the overall HIVE spent for this is around 3M and just in 2021 it is around 1M. Thanks for him for this note, and I decided to have a closer look, since these numbers are not insignificant.

Hive Accounts Created

Here is the chart for the all time Hive accounts created per day, starting from March 2016.

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The bluish color are accounts created for “free” with RC credits. The term free is not exactly correct since RCs were used for this and you need HP, but there was no fee paid in liquid HIVE, so we go with that term.

As we can see here the first peak for new accounts was at the end of 2017 and the beginning of 2018 in the previous bull run. At that point there was more than 10k accounts created per day. Then a drop in the bear market and again a recent spike in the last few months, but this time more constant than before. At the moment of writing this there is almost 1.9M Hive account in total.

Note on the account creation in the first years. At this time most of the accounts are created by the Steemit Inc accounts for a fee. We can see that in the chart. I’m not totally sure how the account creation worked at the time, but there was probably no option for creating accounts with RC credits.

What interesting is that in the beginning the fee varied a lot, it was 100 HIVE in the very first days, then there is 10 and a 5 HIVE fees. At one point they are 0.5 HIVE. Later it would stabilize for a 3 HIVE fee that is now.

If take a look at the monthly chart we get this.

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The last column for September is not over yet.

August and September are record high in terms of account creation per month. August has 186k created and September is well over 200k now and it will reach somewhere in the range of 250k to 300k new accounts.

Compared with the previous period these numbers are well above when there was around 10k accounts created per month.

The yearly chart for new accounts looks like this.

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2018 is still the year with the most accounts created, 640k but 2021 has a few months left and if the tempo for 100k to 200k accounts created per month continues there is a good possibility to be the ATH year for new accounts.

Fees Spent For Creating Accounts

For better representation we will take a look at the monthly and yearly chart only.
Here is the monthly chart.

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Again a note on the last column that represents September that is not over yet.

Here we can see that in terms of fees the last two months have been a record high months. In August 2021 there is almost 500k spent in fees for creating accounts and September is now at almost 600k and it will end well above that number.

In the past we can notice that the fees were highest in 2016 and the beginning of 2017 when in fact the number of new accounts was not that high, but simply the fee for new accounts was more expensive. There was a correction in the fee and when the bull run happened at the end of 2017 and the beginning of 2018 there is less fees spent on new accounts then in 2016.

It should be noted that since Steemit Inc was creating the accounts this fees were coming from the tokens they already had (premine 😊), unlike now when Splinterlands is using their funds to cover for the account creation fees.

The yearly chart for the new accounts fees looks like this.

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The point from the above that in 2016 less accounts were created, but more fees used can be seen here clearly. Accounts creating fees were just more expensive then. I’m not totally sure but I think the fee for new account creation is set by the witnesses.

2021 now has 1.1M fees in HIVE for creating new accounts. Will see how it ends, but most likely it will surpass the 1.27M from 2016. Again, a note that the fees back then were all covered by Steemit Inc, while now Splinterlands is using their funds.

Splinterlands Share In New Accounts Creation Fees

Just to point out the share of Splinterlands in the new accounts creation fees, here is the pie for 2021.

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99% of the fees for new accounts are paid by Splinterlands.

The 3 HIVE fee is probably ok for the current price of HIVE, but if the price goes up, I guess it will need to be adjusted.

All the best
@dalz

Posted Using LeoFinance Beta



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58 comments
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From time to time, I've been claiming account tokens through my wallet on peakd. Is there a place where you can see the total amount of creation tokens you have accumulated? Or I am looking at this wrong way?

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Yes on Peakd. If you go on create account it will show you how many tokens you have. Also I think keychains has this info as well.

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Thank you for your answer. Is there a place to sell these account creation tokens?

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Not for now :)

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Could they be tokenized somehow so they can be traded and moved?

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They are tokens, just not tradable ... there is some thinking that if we make them tradeable, everyone will claim accounts, make them more expensive

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I've been using Hive-Engine.com to manage my rewards and staking. I'm sure there are other places where this happens as well. I just haven't found it yet and Hive Engine seems to work well enough.

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Very interesting to see how things work behind the scene.

@splinterlands is doing a wonderful service. They are charging a $10 fee for the Spellbook of which part of that goes to pay the 3 Hive fee.

This is opening a lot of accounts which, hopefully will be used down the road for more than just Splinterlands.

Posted Using LeoFinance Beta

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Yes they are covering the initial cost for the account with the spell book

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great I just got sps airdrop for holding spt
I wanna ask you something @dalz if you know do I receive a reward on spt staked or I have in liquid form?

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Is Hive deflationary now if it's burning that much?

Posted Using LeoFinance Beta

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In 2021 it is ... part becouse of Splinterlands and part becouse of hbd

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100 HIVE in the very first days

We could have assisted in a cheaper bargain😜

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(Edited)

That's a lot. Great report Dalz.

The 3 HIVE fee is probably ok for the current price of HIVE, but if the price goes up, I guess it will need to be adjusted.

Does that mean they would need to sell Spellbooks at a higher price?

Posted Using LeoFinance Beta

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I was thinking more to lower the fee for account creation.

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That's unbelievable! 99%?!? Seriously, we've got to figure out a way to get a link to a HIVE introduction/tutorial page on the Splinterlands front-end. It doesn't necessarily have to be on the main screen. But maybe in the "finances" section...SPS, DEC, whatever. It just seems like it's too big of an opportunity to waste....

Posted Using LeoFinance Beta

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Another quality, in-depth look at what's going on.

I love the way we see our blockchain continue to evolve.

For example we've had 1 gaming dApp start to achieve success and its taken everything in the opposite direction from social media.

Do you think Hive accounts will be all about gaming in the near future, or retain the censorship-resistant social goal of old?

Posted Using LeoFinance Beta

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Probably some mix, why not both.
I'm exited about smart contracts on Hive. Hive Engine is already showing the way ... the liquidity pools on tribaldex are very important as well ... so custum made communities with self funding liquidity pools, daos, nfts etc ... that is always big

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The massive account growth at the end of 2017 early 2018 coincided with the advertising campaigns run with community funds on Facebook and Google. When these adverts were banned in early 2018 this growth collapsed.

This is key evidence in @jpbliberty case against Facebook and Google in Australia.

Cc @apshamilton

Posted Using LeoFinance Beta

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Oh wow ... will you show them these charts :)

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They're not graphs... but the numbers are all there. That's just one page out of the 323 page "Concise Court Book Vol 2" :-) That's the short version. The non concise one is 1000+ pages.

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Exactly as we commented yesterday... Splinterlands leads the way. If we can come up with a project like this every year, Hive will be a top 100 Coin Market Cap. And I know that mktcap is a silly metric, but you get my point ;-)

Posted Using LeoFinance Beta

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Splinterlands is phenomenal. Deserves way more Credit.

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Congratulations @dalz! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You distributed more than 90000 upvotes.
Your next target is to reach 91000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Check out the last post from @hivebuzz:

Hive Power Up Month - Feedback from Day 20
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Greetings @dalz, Splinterlands is a great way to burn token, a game that has revolutionized the platform market, burning that amount of token that are used when creating an account, this generates the strengthening of the token, because there is less supply in the market, and there is great inverion in the platform, what a great way to strengthen the price of the currency.

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Splintertlands is off the chart! LOL! An upvote is on the way!

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SL is da best!
Thank you!

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Thanks for this under the hood look at the Splinterlands economy - it looks like this game is definitely blowing up! I am going to start playing as soon as I finish reading the tutorials.

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Staking is another way of making money in Leo finance because when you stake your tokens, you will be getting additional token to your wallet.
Please I have a question.
Which token do we get in peakd and ecency.
Thanks for the information

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Very interesting post, I thought Splinterlands pushed so hard on the arrival of new hivers but not to this level: 99% is almost everything! ;)
This shows how much potential Hive has that thanks to Splinterlands and the projects that will come in the future will have even more users.
!BEER
!PIZZA
!LUV

Posted Using LeoFinance Beta

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That’s a lot of bots!

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Any legit way to determine how many bots?

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Out of 414,587 accounts created by SteemMonsters, 3,891 has made a single comment/post on Hive.

Can't really deduce much more than that, but I think it's fairly obvious.

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Can we look at the way tx are signed?

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Well, we can easily deduce which accounts are active on Hive and which only play Splinterlands, but I am not sure you can tell which ones are bots on Splinterlands, and which are not, outside of maybe how long they play for. (bots likely play for a better part of the day).

Not sure it's really worth the effort as I am pretty confident a large percentage of them are bots.

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Loving this positive feedback loop that splinterlands and hive has, can’t wait to see the feedback loop from 3speak SIP.

Wait, that “claim account creation token” we can create accounts for friends ourselves?! I totally forgot about that thing!

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(Edited)

Great data insights. Thanks for pulling and presenting this.

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Remove your downvote from here please.
Kind regards.

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Don't spam if you don't want to get downvoted.

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Remove the downvote fuckface.

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Go fuck yourself. Stop spamming.

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You can cry spam faggot but its not your post and fuck your face ...
I beliece im talking to @ecoinstant in this post... Certainly not your gay ass.

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Thanks. Can you tell me how much HP (RCs) is required to claim one account with RC?

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Depends how much congested the chain is, similar to gas fees on eth, but usualy somewhere more then 5k HP will do it.

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The last graph is stunning! 99% of new SL accounts are paid by Splinterlands. Hype for that awesome game is ever-going :)

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