Hey All,
Its been a while that I talked about my #SPS token progress. I have this long term GOAL for SPS where I am targetting 500K+ SPS staked and currently the APR [Annual Percentage Rate] is also decent which is above 11% and is getting a decent SPS on a daily basis. Just incase if you are wondering - What $SPS is all about? Then let me tell you that SPS is the governance token for the blockchain game Splinterlands. From day one it has been all about building my card deck and accumulating #SPS as much as I can via the different means i.e. by staking, providing liquidity and buying SPS from the internal market.
I had invested in the game during its beta sale and since then continue to be stay invested in the game. I do #hodl cards that is worth almost $10K+ and there was a point when they were more than $50K+. Anyways thats is past and need to focus in present where most of my cards, I have placed for rent and right now situation is that I am not earning too much from renting the cards out. Ok here is my current status for 400K+ SPS staked and continues to grow slowly and gradually.
My Strategy for #SPS - 500K+ Coming SooN...
Before we jump any further, lets look at some numbers tied to the governance token of the game - $SPS. Here is a quick stats around $SPS::
- Total Circulating Supply: 1,471,607,693
- Total liquid: 488,142,814
- Total Staked: 983,464,879
- Market Price: $0.0073
- Market Cap: $20,129,151
What we can infer here is that with 66.8% of the circulating supply staked, #SPS shows strong holder commitment and reduced sell pressure. At a market price of $0.0073, the token's market cap of $20+ Million and it suggests modest valuation relative to its circulating supply and there is obviously room for growth here.
Coming to my strategy part accumulating #SPS and the road to 500K+ SPS staked, I am relying on the liquidty pool SPS/PKM where I have close to 35K+ SPS and 353K+ PKM added in the liquidity pool. The peakmonster team recently announced about - Free Premium + PKM Token changes - where they said that PREMIUM IS FREE & changes to the PKM/SPS liquidity pool.
We have made the decision after 3+ years of sharing our revenue with LP holders of PKM:SPS that instead we will use that revenue to BUY pkm from the market. We will either burn that PKM or put it back into the liquidity pool.
This is making me wonder if I should exit the liquidity pool and have that #SPS share of 35K+ redirected to the staking pool and for PKM leave it as is for now. Right now I have not made up mind finally and should be taking a decision pretty soon. If I happen to redirect 35K+ SPS then this should bring my stake to 435K+ SPS staked and the rest will be building up via the rental income along with #SPS that I leverage further by delegating it and earn a decent APR of above 4% here. The revenue here is #DEC which is another in-game token and most of the time, I land up using this #DEC to swap it for #HIVE at the moment. But once my GOAL for #HIVE Power is accomplished then I would be leveraging #DEC here to swap it for #SPS. Apart from all this, I am also looking to buying #SPS from the internal market. The plan here would be leverage my passive income stream that I have generated here on the HIVE Blockchain. I am able to recevie close to 20+ #HIVE daily via the passive income streams and just imagine if all of this is redirected to buying #SPS and the GOAL of 500K+ SPS will be accomplished in no time. Someone who has been part of the Splinterlands project for a long time likely knows the best ways to buy $SPS tokens. New players or investors can get started easily by buying $SPS directly on the Hive-engine or by swapping other crypto assets for $SPS on PancakeSwap - Here.... Well this should be it for todays post on - "Splinterlands:: Governance token SPS - 400K+ #SPS Staked - Road to 500K+ Continues..." Let’s go, $SPS to the moon.. Happy Gaming & Investing... Cheers...
Splinterlands:: Governance token SPS - 400K+ #SPS Staked - Road to 500K+ Continues...
#sps #splinterlands #staking #apr #nft #cardtrading #governance #hivegames #play2earn #web3games #web3
Have Your Say on SPS...
Are you mad over SPS? What is your strategy for SPS? Are you buying the Dip? Continue to Stake or plan to exit? Let me know in the comment section below...
Best Regards
Paras
Image Courtesy:: splinterlands, procanva licence version, peakmonster
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've have an interest in BlockChain & Cryptos and have been investing in many emerging projects..