After a period in which $DEC was constantly burned, in recent weeks we are witnessing an increase in supply, encouraged by the burning of SPS, when the value was close to the $1 peg, throwing over 1 billion tokens onto the market and bringing the circulating supply is around 5.7 billion. Although the burning mechanism is an excellent incentive to purchase and value $SPS, the mechanism is only made efficient when all the gears of the machine function correctly and work in unison.
Here begins the first difficulty because the great mechanism on which the entire economy of Splinterlands is based is the demand for DEC. In fact, only when the game constantly requires the demand for DEC and this exceeds the supply, the mechanism will be fully functional and in a few weeks the results will be satisfactory even for the value of $SPS.
Greater burning DEC
There were two fairly obvious cases of mechanisms that burned hundreds of billions of DECs:
- DEC-> DEC-B conversion
- LAND
It is clear that a lot of trust is placed in LAND as a container for DEC, a sort of cauldron that will be able to attract large quantities of tokens. The launch of LAND 2.0 is delayed for several reasons, development requires time and large resources and the team is focusing its efforts on attracting new players to our ecosystem. This undoubtedly remains the greatest success factor because in the current state of affairs, having a higher number of active players would be sufficient to increase the value of every single asset.
Posted Using InLeo Alpha
The recent surge in $DEC supply due to the burning of $SPS tokens has certainly added a new dimension to the game's economy.
It's a delicate dance, and as you've pointed out, the success of the entire system hinges on all the gears working in harmony.
The anticipation for LAND 2.0 is indeed high, and the potential for attracting new players to the ecosystem could be a game-changer you've all been waiting for.
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Sure but what I'm tired of is promising something and then either not delivering or under delivering what was said. The BIGGEST example of this is land. The people around still are your HEAVY investors the people with the big bucks. Make them happy not the few dollars that "might" come in from new players. There's also NOTHING holding peg of DEC lol which is what I figured and why I really don't get why it's considered a stable token at all.
I'm also really hoping this great burning event starts to burn a lot more in order to call it a success. I'd also love to know how many NFT cards are being burned for DEC and then burned DEC. Lots of details that always seem to be hard to come by.
NFT? Centralized game so if they shut down all your NFTs are gone hence are these cards real NFTs? I think the answer is no.
Yes, that's how most NFTs work and have worked to this day. Until BTC etching started a few days ago.
True, been in part time business with real NFTs, so verified on a chain, only saw ETH NFTs
This method is good but the way we see now that they have changed the reward system, people don't like it at all because it makes people unable to earn anything.