Staking SPS Gives You 4 Ways of Earning More!

 

SPS has some of the best earning opportunities out there

Just some days ago I stated that we may have seen the final bottom for SPS. Just a day after that post we saw SPS climbing another 10%+ to around 2.2 cents. There is a good chance of some consolidation before a further push upwards, but it seems the long journey to higher highs has finally started. But SPS does not just look good from a TA perspective. It has one of the best earning opportunities in the crypto space.

4 Ways to put your SPS to use

First, you definitely have to stake SPS in order to unlock these features. If you do, then you will be able to:

• Earn a passive APR simply by staking it. Currently this is about 17% and you will earn both SPS as well as Vouchers which is another token that is tradable on TribalDex. While we have now just seen the first real utility feature for SPS (SPS staking "requirements for playing"), Vouchers have not quite found their place in the ecosystem. They simply lack utility and are therefore far from their intended peg at around 50 cents (I might be wrong on this).

• Earn GLX, the token for the GLS game developed by SPL. If you stake SPS you will earn a share of GLX rewards every day. The amount of GLX received is fairly low, but you are able to stake GLX to earn more GLX! SO it's a double earning opportunity. That said, the caveat is that GLX is currently trading at sub 1 cents, so it still needs some utility. But since the GLS game has not even launched this is to be expected.

• Rent out SPS to other players. This is a new feature that went live when SPS replaced the Collection Power in the game. You are now able to rent out SPS to players that want to play the game, but need more SPS in order to earn a greater share of the SPS reward pool. Currently the highest Bid for SPS is at 0.009 DEC per SPS. This means that when you want to fill a bid for e.g., 10,000 SPS you would receive 90 DEC. 90 DEC is itself worth around 9 cents (at peg). If we want to calculate the APR we would look at would it costs to buy 10k SPS which is around $220. Renting out SPS at 0.009 DEC per SPS would then give us 9 cents per day. In a year this would be around $33. So the APR would be around 14%.

• The final way to put SPS to use is to play the game of course. This cuts into the renting out option, however, since you will have to chose which one of them you want to prioritize or even focus on only one of them. There are quite a few factors involved in this calculation and depends on every players individually. So I'll leave this up to you.

Conclusion

There you have it; 4 ways of getting more out of SPS than simply holding it liquid. The economy already heavily encourages to stake SPS and it will be exciting to see what happens as the game further develops.

 

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