Increasing My SPS & HIVE Stake
In my previous post about Splinterlands, I mentioned that I would be exploring some SPS & DEC Pools. So I unstaked my SPS that was locked in the game's wallet. 32% APR wasn't enough so I opted in for SPS-SWAP.HIVE pool which is currently giving around 90% APR and rewarding me with 4-5 SPS everyday. Maybe more because I haven't noticed it really. I keep on claiming it once or twice a day. I also opted in for DEC-SWAP.HIVE pool which is giving me around 20 DEC per day I guess.
First of all, I get DEC from renting my cards. I also have around 7000 SPS which will be unstaked over the next few weeks and goes into SPS-SWAP.HIVE pool. I am not interested in VOUCHER Token as of now so I am not worried about getting them through game's wallet staking. Maybe I will stake them in VOUCHER - SWAP.HIVE pool just to try. In addition to DEC & SPS, I am also earning from fees on Tribaldex paid out in BEE tokens.
I will also buy more SPS in the upcoming weeks and put all of it into the SPS-SWAP.HIVE pool. It's a win-win situation since I want both SPS and Hive. Overtime, this will increase both of my stakes no matter which direction their prices will go. There are the two cryptos I am most interested in within the Hiveverse. All DEC I am earning sometimes goes into DEC-SWAP.HIVE and sometimes I convert it into SPS or HIVE depending upon the situation. And right now the situation is that I love stacking more and more SPS. 😂 It's going to be the hottest play-2-earn token everyone wants. So I don't want to regret later that I didn't do enough to increase my stake in it.
Splinterlands Roadmap Progress
In the last weekly Townhall meeting, there were some juicy updates given by the Splinterlands team. Ranked Battle rewards will be replaced by SPS. So no more DEC rewards in your daily and seasonal chests. They are targeting this to be live by August end. I guess I will have to get back and start playing now or maybe hire someone to do it for me. 😂 These rewards will be staked automatically so as soon as you open the chests and get SPS, you will start earning 32% APR on your stake. Moreover, you will be able to burn SPS for DEC. This is really cool because I won't have to send DEC to Hive Engine and then exchange it for Hive or SPS. It will be an easy process after this release.
I am also happy that more information about LANDs will be disclosed in the upcoming Splinterfest. Its location is to be decided as per Splintercards tool created by @tehox. It's a good resource to track the milestone and progress within the Splinterlands Metaverse. What do you guys think? What are you doing with your SPS Stake? Comment below!
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Those juicy LP rewards are too good to be skipped... :) When the airdrop was running, I had a nice bunch of liquidity in the DEC-SWAP.HIVE pool, and now is the time to do the same in the same pool, but also in the SPS-SWAP.HIVE pool... ;) I'm doing something similar to you, with the difference of taking some profits along the way... We never know will all this go, so why not? ;)
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Haha. That's a great strategy mate. :') I will start taking profits once I reach my 30k SPS goal. It is one of my long-term investments in Hiveverse so not taking out anything yet.
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Great post, I didn't even know about the changes in rewards, do you know maybe what will then happen to DEC , which people won't want to burn? I understand that you will still be able to buy cards for them.
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The future of DEC looks grim to me. There aren't any upcoming use cases for it in the near future. So I will either convert it to SPS or keep adding it into DEC-SWAP.HIVE Pool.
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I wouldn't say that. What they really want is for DEC to get and stay attached to it's peg at $.001. Right now it's around $.00057 which is why I bought 1.42M DEC yesterday and used it to buy 355 (plus 35 bonus packs) Chaos Legion packs. 355 * $4 is $1420. 1.42M * $.00057 is $809.40. Basically I paid for 202 full price packs and got 188 free.
I opened 300 of them and got cards worth about $800 at current prices so I've gotten my investment back and still have 90 packs left. And that's at these prices. Personally, I think that when land comes out and people have to start using and combining cards to work on that land, the prices are going to take off again. There just aren't going to be enough cards available to play the game at the higher levels and work all that land.
When that happens, I think the rental market will really improve and card prices will really take off as well. We'll see.
I'm close to having a complete double set of Chaos Legion cards so I've been renting a bunch out and collecting DEC that way as well. My plan now is to just hoard the DEC and see if I can make 70% on it if it goes back to it's peg. I'm also in a few of the pools trying to collect as much SPS as possible for Riftwatcher cards and hopefully price appreciation over the next few months as well. It feels like a very good time to be a part of Splinterlands...
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That's a pretty freaking solid strategy. Thanks for the info @dagger212. I was living in my own delusional world that DEC isn't worth anything and unaware of what was happening.
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I am also thinking of putting some into the LP rewards but only for farming. The rest will stay staked to get me some VOUCHERS.
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I am also keeping some staked in the game to get Vouchers. Decided to unstake only half of what I have. All vouchers will also go into the pool. :')
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You're absolutely right, the staked SPS is nice with its 32.76% APR, but it can be much better. However, looking at the SWAP.HIVE:SPS diesel pool (I suppose that is the one you wrote about), it says the average APR is only 1.115%. Is that all? On the other hand, putting it into the SPS:SPT pool would bring in 156.75% average APR.
Does this make sense? Or did I look at something completely different?
You are looking at the APR displayed by Beeswap. When you stake in SPS.HIVE pools, you will get rewards with avg APR & BXT APR as shown in screenshot you shared. On top of it, you will also get these rewards in SPS with 83.26% APR:
Source: POOLs TAB in SPS Wallet, Splinterlands.com
So your ROI is much more than 32.76% which you get by simply staking SPS in the game.
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Okay, so that's how it works! The same pool, but with an extra SPS reward... by the game I take it. That makes is more than worthwhile! Thanks for clearing that up.
Yes, that's exactly how it works. Cheers mate, enjoy :))
Those are 2 no-brainer liquidity pools to be in!!! The demand for liquid hive must be going through the roof!!
We just need a few more apps like Splinterlands and Hive will reach $10.
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Yeah, the price could explode!! We need to stack more as quickly as we can! LOL
From what I hear there will be a pack sale next month and SPS will be used as payment. Probably good to stack some on the side as well.
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Yes, Riftwatchers. :') Will buy some!!! I really like the dopamine hit I get after opening the packs. 😂
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I'm pretty sure it is the other way around... You will be able to burn SPS to get DEC.
Those liquidity providing rewards are just too good not to take advantage off 😁
Fuck, you are right bro. Burn SPS for DEC will be allowed soon. Fixed it in the post.
It's awesome to see more SPS coming in daily. :')
I am keeping my SPS staked, but every other Splinterlands-related token I get currently goes to pools. And sometimes I buy cards (only with DEC), to max out my CL edition.
I am thinking of doing the same bro. As @dagger212 suggested above, DEC is way below its peg and you can get literally get bonus packs if you use it to buy.
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Thanks for sharing! - @alokkumar121
nice strategy with SPS