My SPS Investment Journey - Potential SPS Listing On Binance?

Hello! It's my periodic/monthly update and self-talk about my SPS investment journey.

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Potential Listing On Binance?

But before I go onto the numbers, there's something major going on in the community! If you haven't been following the discussions in the community as well as on X/Twitter, there has been a lot of discussion about the potential listing on a so-called "Tier 1 Exchange".

And it's no surprise that someone came up with a proposal, titled "Establish an Exchange Fund to Pursue an SPS listing on Binance or Coinbase". We are at the Pre-Proposal stage, where approximately 38 million staked SPS votes are required to pass. With 1 day left before voting closes, this looks certain to pass and we will move onto the Proposal stage.

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If you need a refresher on the difference between Pre-Proposal and Proposal, this information can be found on Splinterlands website.

Pre-proposal
A Pre-proposal is the first 7 day period of any SPS DAO Proposal's life cycle. During this time, discussions about the Pre-proposal should happen and the author can edit the Pre-proposal if they choose to do so. Pre-proposals may be edited by the author during this 7 day period.
Anyone can submit a Pre-proposal to the SPS DAO by transferring 100,000 DEC to null and then publishing a HIVE post from that same account with SPSPROPOSAL as the first tag and putting the transaction ID of the DEC burn at the top of the post. You can find an example Proposal here. If at least 5% of staked SPS votes to support the Pre-proposal it will advance to the Proposal stage after the 7 day Pre-proposal period is complete and no further changes to the submitted Proposal will be accepted.

Proposal
Any successful Pre-proposal that advances to the Proposal stage will have a new 7 day voting period for the DAO stakeholders to accept or reject the final version of the Proposal. For a Proposal to be successful and have a passing vote, it requires at least 10% of staked SPS to vote on it of which a 2/3rds majority must be in favor of the Proposal.

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Back to the Pre-Proposal/Proposal, the initial reaction was massive. Almost everyone poured in their support, and likewise, I put in my vote to support this as well. There was so much excitement in the community and I was as usual amazed by the passion that many players had.

However, as per stated in the Pre-Proposal stage, the proposal can be edited by the author during this 7 day period. As the days went by, there were amendments after amendments, including a threshold for the price of SPS, and also finalising this "Tier 1 Exchange" to be Binance (instead of Coinbase).

To be honest, I am not the expert here but I do take time to read the posts here and there and the general consensus on the ground is that the amendments have changed the fundamentals of the proposal so much, and some players have switched sides, i.e. they went from supporting this Pre-Proposal to against. And I did my thinking and voted with my gut feeling as well (you can see my vote in my screenshot). Of course, I am not here to ask for support or against votes - I believe everyone is wise enough to decide for themselves, but if you are interested in Splinterlands and the value of SPS, this proposal is something for you to take a closer look.

You can read more about the proposal here.

P.S. By the way, SPS is listed on Crypto.com App, for those who are not aware. Hehe!

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My SPS Investment

As background, 3 months ago, I decided to swap 600 HBD into 19,162 SPS because of my bullishness for the price of SPS. You can find this being mentioned in a few posts of mine. And this is kept and monitored separately from the SPS that I get from playing Splinterlands.

As shared in my previous post, there are a number of ways to generate yield from staked SPS, while I wait for the price of SPS to recover from the recent dip.

From staking SPS and renting out staked SPS, I have accumulated a total of 404 SPS so far over these 3 months. With that, my initial purchase of 19,162 SPS has become 19,566 SPS.

	SPS Earned	Comments
Staking SPS (SPS)	242
Staking SPS (VOUCHER)	37	Converted from VOUCHER to SPS
Renting out SPS	125	Converted from DEC to SPS
Total	404

Putting them in a table, it's clear that the current value is in the red due to the price difference, but it's also clear that the extra SPS from staking SPS have reduced the margins.

	SPS	Price of SPS (in USD)	Total Value (in USD)
Cost as of 14 Dec 2023	19,162	0.0313	600.00
Value as of 18 Mar 2024	19,162	0.0244	467.55
Profit/Loss			-132.45
Value as of 18 Mar 2024 (with Yield)	19,566	0.0244	477.41
Profit/Loss			-122.59

To conclude, I am still bullish on SPS for the same reasons in my earlier post and hopefully we will see some price movement in the coming year. Otherwise, I am fine accumulating more SPS while I wait. Hehe!

Before I end, of course, I should always reiterate that this is not financial advice. This is just my personal viewpoint and one should ALWAYS do your own due diligence for anything you want to put your money in.

So what do you think? Let me know your thoughts in the comments below.

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If you are interested to sign up to play Splinterlands, my referral link is here.