How to Repeg DEC & Giveaway

Cover - Repeg DEC.png

It's been one week since the battle rewards switched over from DEC to SPS and the price of DEC seemed to be recovering a lot going all the way up to $0.84 per 1000 DEC. The momentum didn't last long as some of the players took the opportunity to dump some DEC back into the market after the pump.

Screenshot 2022-08-30 at 18.16.47.png

Having DEC at peg is crucial for the future of Splinterlands and the recent change to battle rewards is a step in the right direction but that alone won't fix the problem. DEC supply is still increasing every day and there's no new incentive on the demand side, splinterlands needs to find a way to make DEC deflationary until we can get back to peg. The SPS burning mechanism ensures that DEC will never go too much over the peg because players would quickly arbitrage the price down.

We need more mechanisms to help support the price of DEC and one that could easily be implemented and would have a great impact on the supply would be to burn the DEC generated from market fees until DEC gets back over $0.95 per 1000 DEC or maybe a progressive mechanism that burns more DEC the lower the price gets and less as DEC gets closer to peg.
Just in the last 24H Market Volume: 93,960 sales / $58,635 that is enough to burn $2,931.75 worth of DEC just in 24 hours! Once we start getting close to the peg the team could turn off this mechanism.

New skins are also a good way to help reduce the DEC circulation but there aren't that many people buying them so it would have a very small impact. The introduction of SPS rewards to guilds will incentivize guilds to spend more DEC on upgrading buildings but that alone won't be enough.

Giveaway

⚔️ The rules:

  • Minimum Reputation of 50
  • Only one comment per person
  • Upvote / Follow or Re-post is not mandatory but it is greatly appreciated.
  • You just have to comment. If you use a different username on Splinterlands please mention the account where you want to receive the cards.

The winner will be picked by a randomizer and will be announced on next week's giveaway post.

⚔️ Cards for this week:

Goblin Tower.png

Cards will rotate splinter every week, Fire -> Water -> Earth -> Life -> Death -> Dragon -> Neutral. This week if you win you will receive 2x Goblin Tower.

⚔️ Last week's winner:

Screenshot 2022-08-30 at 17.46.10.png

I'm currently using this tool to randomly pick one comment to win the giveaway.
@flummi97 was the lucky winner from last week's giveaway! I will send your reward right away!

Not a Splinterlands player yet!? Join now

vibes (1).gif

Posted Using LeoFinance Beta



0
0
0.000
33 comments
avatar

Count me in giveaway. I got some profit in investing in dec when sps airdrop was started I kept dec for getting sps and the dec gave much profit then that.

0
0
0.000
avatar

I'm just here to meme on the obsession people seem to have with pegging :P

0
0
0.000
avatar

🤣🤣 with the state of crypto you’re going to have a lot of memes do distribute. Depegs every week

0
0
0.000
avatar

nah pegging is more fun than depeging if you know what I mean :P

0
0
0.000
avatar

It's going to be a challenge trying to repeg it and honestly I don't see how they are going to do it besides constant burns. But even at that point I could see it going over the peg and no one buying it with their sps.

0
0
0.000
avatar

A ton of people would buy it with sps since you can always burn $1 of SPS for 975 DEC so everyone will start burning SPS for DEC if it goes over peg. It is free money, you can rebuy the SPS you spent and a little more right after.

0
0
0.000
avatar

It's a bit sad to see the prices were only temporary but I guess the rental market is the only real use case for DEC right now.

count me in @jfang003

Posted Using LeoFinance Beta

0
0
0.000
avatar

I think all that is needed is time. There is so much Dec supply that it will take a lot of time for all that supply to be bought up to buy packs and guilds building upgrades.

It is just a matter of supply and demand.

Posted Using LeoFinance Beta

0
0
0.000
avatar

You mentioned in the other comment

bought at a discount by swapping funds into Dec before buying the packs.

Most people just buy the packs directly from Hive engine instead of buying discounted DEC to buy packs. It will take a long long time to go through all that supply but eventually we will get there once the chaos legion packs get near to sold out.

0
0
0.000
avatar

True, but those packs need to be bought on the website first, to be able to be sent to hive-engine.

Also you only have a chance for the airdrop cards if you buy packs in the splinterlands shop.

Posted Using LeoFinance Beta

0
0
0.000
avatar

they just mentioned in the AMA that their new tower arcade game will accept DEC. Hopefully that creates another sink gets thr price moving up towards peg.

Posted Using LeoFinance Beta

0
0
0.000
avatar

I totally missed that during the AMA. That will be great for DEC! It will take a while for the tower defense game to be out but that's ok, we can wait it out.

0
0
0.000