I Was Wrong About DEC
In one of the comments of my last post, I mentioned that the future of DEC seems grim to me. It was based on the lack of knowledge about the role of DEC tokens in the Splinterlands economy. I love the Hive community because they put you in the right spot when you are lost. 😂 A huge shoutout to @dagger212 for explaining in detail why hoarding DEC right now is a damn good idea. I actually bought a shit ton of it to put in the DEC-SWAP.HIVE pool. All the DEC I am going to make via renting my cards is going there.
Right now it is below 40-50% its peg and it keeps on changing quite quickly. It's supposed to be $.001 & at the time of writing this post, it is $0.00073. Already up 35% since Dagger wrote his comment. Once the ranked battle rewards will start to pay out in SPS instead of DEC, its value might rise back to its peg. All DEC stackers of today & tomorrow will have a nice payday when that happens.
Coincidently, Splinterlands published a huge explanation in a blog yesterday around the same topic. As per the team, DEC is a product-backed stablecoin as opposed to algorithmic, collateralized, and other types of stablecoins. When the demand of products such as packs is low DEC price falls below the peg. An increase in supply from the ranked battle rewards was hurting the peg. This change is supposed to fix the demand and supply issue for DEC and restore the peg. In order to meet the demand of DEC when the hype around Splinterlands products goes high, we will also have a feature where you will be able to burn your SPS for DEC. This sounds perfect in theory and I believe the team at Splinterlands must have thought this through before they started working on these changes. Will they work or not? Only time will tell but I am ready to take that bet because there's a huge upside.
SPS As Ranked Battle Rewards
We have already talked about SPS replacing DEC as Ranked battle rewards. This will drastically reduce the issuance of DEC by 80% and 7.5M SPS tokens per month will be available to reward the players. SPS Conversion to DEC will burn $1 worth of SPS tokens to mint 975 DEC. This also helps in the pegging mechanism of DEC. When they are trading above the peg, you can buy SPS, burn them for DEC and sell for profit. It keeps DEC stable and put upward pressure on the SPS price.
Now players have a great reason to play and increase their earnings by moving up the ranks. Moreover, at current prices, SPS rewards for battles are almost double in dollar value as compared to DEC rewards. Even the seasonal chests will replace DEC with SPS. All the ranked battle rewards will be staked automatically within the game which means you will start earning Vouchers and more SPS at 33.33% APR. So much money flowing in from all directions. Haha! You can now earn SPS through staking, liquidity pools, validator license node, and hard work. As Dagger mentioned in his comment, a good time to be a part of Splinterlands. 🔥 The future looks bright for $DEC & $SPS.
Posted Using LeoFinance Beta
~~~ embed:1561343118263435264 twitter metadata:bXlwYXRodG9maXJlMXx8aHR0cHM6Ly90d2l0dGVyLmNvbS9teXBhdGh0b2ZpcmUxL3N0YXR1cy8xNTYxMzQzMTE4MjYzNDM1MjY0fA== ~~~
The rewards earned on this comment will go directly to the people( @finguru, @mypathtofire ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
Your content has been voted as a part of Encouragement program. Keep up the good work!
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more
It's amazing the huge move up in DEC! Man stacking DEC would have really paid off!!!
That's true. Just a few days ago if you had bought DEC, you would be in profit. It's not too late though.
Posted Using LeoFinance Beta
yes, the peg could be restored!
LeoGlossary Main Menu
Posted Using LeoFinance Beta
Added some links from SplinterGlossary
Posted Using LeoFinance Beta
Oh ye mate! Keep grinding!
Sure mate. How are you doing btw? Enjoying your new home?
Posted Using LeoFinance Beta
I am doing fine mate, its been a lot of work on the house haha! But I manage to write every now and then and read about opportunities out there in the crypto market :)
and you? still kicking!? I can see you still create great content for me to read 😎
Keep up! I will get there soon (y)
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share 100 % of the curation rewards with the delegators.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
Read our latest announcement post to get more information.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
Congratulations @finguru! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
That's awesome. More buzzy bee weeks are on the line.
Posted Using LeoFinance Beta
Yeah, keep going on this way @finguru! We wish you a nice day 😊👍
Thanks for sharing! - @alokkumar121
both are valuable tokens in the game and with upcoming changes, things will be even better
Thanks a lot bro @alokkumar121 🔥