Crypto Talk: Claiming and Staking
With so much happening with @Splinterlands, especially with the airdrop and pre sale of Chaos Legion cards. I started a new series and collection called Crypto Talk to better understand what I am doing and help others with informational posts and short videos.
This post is especially for @clark2021 as she asked about claiming and staking.
Terms:
Claiming and Staking
Definition:
Claiming
I like this definition from Yourdictionary.com
Claim means to take or assert ownership of something or to state something as true.
Simplified: We say we want that token.
Staking
Business insider gave a very direct definition
Staking is the process of delegating or locking up crypto holdings to earn rewards.
Simplified: I think of staking like purchasing a CD (Certificate of Deposit) at a bank. You can not access your money for a set amount of time and during that time you earn a certain preset interest rate.
Information:
Claim:
In Splinterlands you will be claiming SPS from the airdrop. How much depends on the amount of assets you hold in the game. While writing this post it is day 91 of the 365 day airdrop.
I am currently claiming from my Splinterland assets and from the APR accrual.
Staking:
After claiming the SPS you will then decide what to do with it. My last post was on liquidity pools an option for increasing your Splinterland assets. For this post we will be talking about staking, which will earn you SPS and vouchers.
To keep the currency from being bought and sold a company, like Splinterlands, will offer some type of incentive for staking. Currently the APR for staking SPS is 57%. It changes with the total amount of SPS staked.
Once a token is staked that means it is no longer liquid (the ability of a coin to be easily converted into cash or other coins). It will take a certain amount of time to get staked currency again. For Splinterlands it is 28 days.
Short note about vouchers: With 23,288 SPS I am earning 5.306 vouchers a day. To buy a pack of Chaos Legion cards a player currently has to have a voucher.
Video:
Step by step:
I will be using my @arttalk account for the step by step and my @sjarvie5 for the video.
Claiming
There are two places to claim SPS- from the Splinterland assets and from the APR accrual.
Step 1: Click the SPS tab
Step 2: Click claim under the total SPS Ready to be claimed
This is from asset holding- For this account DEC and cards
Step 3: Click claim again under the APR percentage to claim the SPS earn for having staked SPS
Of course click ok as you go. :)
See your SPS and USD balance go up.
Staking
After claiming you will be in the SPS management tab
Step 4: Click on the orange stake button and enter any amount.
You can put as much or as little of your liquid (My in game balance) SPS into staking.
Step 5: Click Stake
Note: Splinterlands again tells you that it takes 28 days to unstake the full amount of the SPS.
There you go. I do this once a day close to the drop to get the maximum benifits.
Advanced:
Proof of Work
Proof of Stake
Vesting
Sources:
Claiming
Staking
Cryptocurrency Liquidity
What is Staking?
Crypto Talk Series
Crypto Talk: Liquidity pools
Crypto Talk: Blogging about crypto, especially Splinterlands
Hello sjarvie! This is a helpful post for newbies who just recently got into splinterlands and the hive ecosystem.
I'd advice you to use more tags like #spt #oneup #leofinance #hive-engine etc ... to reach more audience and enable you to earn more tokens!
Great, thanks for the other tag suggestions.
So useful and easy to follow, this tutorials are really good for people that still don't know how to take advantage of this cool airdrop
So what do you think about holding DEC against liquidity pools? of course the second one give you the double points for the airdrop but you have to split the amount between SPS or Hive and it means kind of risk
@vjap55 Great question. I have a lot of money invested in liquidity pools. My first tutorial and video was on liquidity pools, to help me understand it since I have so much invested. I go back and forth with staking and liquidity depending on the day.
I think economically it is better for me to do the liquidity pool. Right now I am staking more so I can get vouchers for Chaos Legion packs. If I did the math, I think it might be better to buy the vouchers off the market with the extra SPS drop I get from putting into liquidity instead. Have you seen @jarvie video on Advanced Splinterlands Pre sale Math?
Yeah it's really complicated when it comes to money and everyone has a different way to say things, there is do much speculation, FOMO you know so we got to stay calm and focus, I'll check it out thanks fir sharing 😎
Yes, that is true and I want to keep it simple and go with one thing so I don't get overwhelmed with too many options.
This is how much I don't know about this sort of thing - can anyone just join and play or do you have to invest to get started? Was there some sort of airdrop for Hiver users in the begining - wondering if I have a bunch of cards just sitting there that I never claimed or something.
Sorry, lots of questions. I literally have no clue at all about Splinterlands 😂
Hi @leaky20. Yes, anyone can start playing, especially those with a Hive account as the game is built on the Hive blockchain. You would need to purchase cards. I purchased most of my cards at the beginning of the game, years ago, when they had Kickstarters to promote the game. It has grown a lot over the years and is doing really well right now and the air drop is great.
Okay thanks. Good to know :)
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