How to use your DEC/SPS rewards to power up on Hive
It's been a while since I posted anything, and I've been away from the whole ecosystem for a while. But I have a renewed interest in the #splinterlands game. I've played the game since the start, but we have a massive surge of new users in the game. This is also the reason for this post.
Low on Hive Power may hinder your gameplay
As Splinterlands runs on the Hive chain, a chain without any transactions fees, you need to hold Hive Power (HP) in your account. With to low HP you can't do transactions unhindered due to a low Resource Power (RP) level.
This post will go through an easy way to convert your rewards in DEC and SPS to power up your Hive account. We'll look at the possible fees during this process as well.
Of course, this also works the other way around. You can power down on Hive, or buy Hive, and use the following guide to go from Hive to DEC/SPS in the game.
Transfer from Splinterlands to Hive-Engine
Transfer DEC Dialog
Transfer SPS Dialog
Within Splinterlands.com you can transfer in and out DEC or SPS to the Hive-Engine chain. Hive-Engine chain is a side-chain that runs on Hive.
Splinterlands does not take out any fees for these transactions when you do it on their own site.
You should therefore always use the
Transfer In /
Transfer Out directly on Splinterlands.com.
Swap on BeeSwap
BeeSwap is a site where you can access the Liquid Pools of Hive-Engine.
The different between a SWAP service and an Exchange is that you will not bid, but use the current market price. Your Swap will make on asset larger than the other and affect the pools balance and thus the price of the pool, this is your market fee.
You can easily see the expected amount you will receive on the screen.
Here we convert 100 DEC to SWAP.HIVE. The price impact of this swap is 0.001% - 0.501% as this is well below the amount of available liquidity.
Convert SWAP.HIVE to real Liquid HIVE
As we're operating on the side-chain, Hive-Engine, we are not really using the real asset HIVE, but rather an IOU (I owe you) asset called SWAP.HIVE.
We need to convert these to real Hive on the Hive chain which also can be done on the BeeSwap site for a decent fee of 0.25%. (The Hive-Engine website takes 1%).
BeeWap Convert is done on the Convert section of the page.
This page also clearly shows if this can be done and if there is liquidity to do so.
Once converted you have your assets available in your Hive account and can power up for more Hive Power.
We've looked on how to send and receive both DEC and SPS on your Splinterlands account and that we can Swap these on BeeSwap.
BeeSwap has an easy swap interface for the Hive-Engine Liquid Pools, and also a low fee to convert the IOU token SWAP.HIVE to the Hive asset.
Remember to always use secure ways to hand your keys when using external services. BeeSwap supports the
Hive Keychain plugin, as well as a local browser storage directly for the site. I recommend the former way.