Seamless Zero Fee Transfer from Liquidated STEEM to DEC, Worth the time?

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(Edited)

This is an interesting scenario that I am testing it out.

It has been a while since I started playing Splinterlands and often times, other than battles, people kept asking me to burn off cards that I do not need into DEC in order to get potion boosters (and even getting cards in DEC from the market)

The question in my mind was, wait... I still haven't really able to learn all the abilities of the cards, checking their combinations to see whether they are useful or not, and you are asking me to burn them?

I guess any new player who has the mind to test out the game instead of treating it as an investment would have thought this would be the choice... right?

So I thought of a strategy... how about exchanging Steem to DEC in Steem Engine?

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I think at this point of time, moving steem into Steem engine would just be losing 1% of my fee, further more the DEC exchange might be more expensive; so in order to get steem pegged without losing any unnecessary conversion fee, I got to source out whoever has excess steem peg and does not want to loose the 1% fee while converting out.

And then, the idea came when I realise that @gtpjfoodbank could be available if there were extra tokens that can be exchanged into Steem pegged and then I can just give them the liquidated steem outside the steem engine instead.

full explanation can be read at this post

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And here it is, I got some STEEM pegged in my steem-engine without the deposit and withdrawal hassle, and off I went to get some DEC, even though I am seeing that its price is going up still.

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Usually as investors / exchangers they will always wait for buy low sell high method to gain more tokens they need; but since I am actually testing to see if there are any fees occurred during this transition from steem-engine to my splinterland account, I guess it is as good as a proper test; regardless of the exchange rate

(because I am not here for quick profit)

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So off I go, now having 9 cents worth of DEC ....

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Oops... the interesting part is that if I use the liquidated steem outside the steem engine I think the exchange rate is the same as the steem-pegged vs DEC; the only difference is that if steem was transferred into steem-engine first there is a fee incurred.

Updated: @khimgoh found out that there's a 5% conversion fee from liquidated STEEM (in our accounts) to Steem Engine's DEC. So it is totally a NO GO for me.

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And looking at the chart if I just transfer from steem-engine to the splinterland wallet, there should not be any losing of DEC along the way...

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Yep. None were lost.

Verdict?

  • Yay, if you want to be an assistance to people who has steem-pegged quantity and wanted the liquidated steem / steem power without going through the lost of 1%
    (because for some, every penny counts)

  • Nay, if you want it quick. You can just directly exchange from liquidated steem to DEC immediately without so many hassling steps especially when you are in a hurry.

Overall, it was a good experiment and a good deed done for a non-profit charitable organisation. Even with those extra steps and a bit of waste of time it is still worth it because their pennies are far much valuable than we usually take for granted.

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my opened untamed pack got this!

Unfortunately I still do not have enough to get an upgrade with the DECs I have. Guess I just need to commit to more battles (and win them) for more DEC collections.



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8 comments
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So this is now your special gaming account?

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Yep. This is also for the little ones in the future. Maybe Steem Monsters will moon and they will be so famous and popular that my cards can fund something for their wedding gift in the future haha.

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You only loose 1% when you deposit or withdraw Steem into Steem-Engine, so you can make as many trades as you want while in Steem Engine for free.

So, while you're there you can buy and sell whatever and only lose 1% as you remove currency from the engine. It helps to pay for the engine's running costs.

I can't give financial advice, but DEC might be worth a lot more in the future if you don't spend it. Personally, I am setting up my cards to be a rental investment, people are already renting my cards to play with.

Thank you for mentioning that foodbank. I will see what I can do to help them. One initiative that might help is the @steembasicincome. All you do is send them 1 Steem with gtpjfoodbank in the memo and you both get 1 SBI each. These SBI become upvotes on their posts.

Another little thing you can do is delegate a small about of Steem Power to them. SP generates 2% interest every month so every little bit helps.

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Wow nice. You must have a really huge collection of strong cards. How do you set them for rent later?

Right now I guess many of us are just not able to cope with the 1% between steem and SE; but I am ok if I am withdrawing LTC (for example) with 1% fee. So far I have tested and it goes pretty well.

As for SBI, right now I think delegation would be the best choice as soon as this account becomes stronger; and for profit wise, maybe you are right on the DEC if more and more people prefers to use the DEC for power up in battles.

I can't really comment on that now but I think I would definitely give that a try, at least once, and see what is the major difference between the handicap aid of potions and without.

Thank you so much for the tips and insights @shaidon !

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