Making sure I've got 850K DEC for my Tract of Land!

in LeoFinancelast month (edited)

Yesterday I had around 480 000K DEC in the Liquidity Pool, around 25K DEC down on what I'd originally staked (at one point I was 30K down on where I started!).

I had an additional 390 000 on Hive engine, giving me a total of 870 000 DEC.

I realised that at the current price of DEC, around $0.88, there was the potential for an additional 10% increase in the price until DEC hits it's $1 PEG (at which point people just start buying packs and burning the cards I think, which would be a pretty insane development to bring the price down).

I'm not sure whether it's my addled brain, but it figured that a 10% increase in price could mean I'd end up having an additional 10% of my DEC drained from the pool and replaced with ETH, and 10% of 480 000 is 48 000, which would mean I'd end up with 28K DEC less than I needed for my tract purchase, and my having to buy more DEC at $1 per thousand.

I don't mind the ETH, but I really want to make sure I've got the 850K DEC in my Splinterlands bank to be able to purchase.

Screenshot 20201021 at 19.50.16.png

So yesterday I moved to prevent this happening by simply removing 25% of my stake from the liquidity pool.

I've now got:

  • 507 000 - on HE/ in my ETH wallet (it's pointless moving it back to HE yet, as it's a 1000 DEC fee for any amount)
  • 379 000 - staked in the liquidity pool
  • 886 000 - total DEC

Screenshot 20201021 at 19.48.14.png

(A bit more DEC relatively in the pool than yesterday!)

So now if I lose 10% of my stake, that's 38K, oh look I'm pretty much bang on the 850K I need!

NB I know it's not as simple as a 10% price increase draining 10% of the DEC supply, I was more freaked out about SO MUCH of my DEC disappearing and the figure increasing.

Now I feel much happier, and I've still got a fair whack staked.

I am a sucker for a raffle, and I think my tight fistedness can handle paying for a few more thousand DEC (rather than 30K) at a premium rate!

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I though the 1k fee was just to send to your DEC ether wallet and just gas to send it back to HE/Game wallet?

Ah yes I just checked, you're quite right!

I'm a dollar richer! Cheers!

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I'm also play the game Splinterlands and so far its been a great journey. Currently not looking into investing into the land purchase. Will see how it turns out in near future. Good luck to you with your investment in land purchase. cheers

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Hey thanks, although you might want to pick up just one plot while they're half price!

I think these could be signficant!

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Good luck with your tract purchase. Thanks for sharing.

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Hey cheers!

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