SPS is Mispriced, and here's WHY

in LeoFinance2 years ago

I believe that SPS is the greatest case of misprice in the Splinterlands universe right now. Tag along if you wanna know why.

What is SPS

Splintershards or SPS is the main token of Splinterlands and its governance token. Staking SPS provides several rewards for holders, and we can clearly see that the amount of staked SPS grows everyday.

By staking SPS you get several rewards within the game such as:

  • Staking gives you more SPS, currently giving an APR of 41.87%, which is pretty solid by itself.
  • Allows you to play tournaments that only SPS holders can play. These tournaments usually have very good prizes, ranging from dozens of dollars to thousands.
  • Staking gives you access to the airdrop of vouchers, which can be sold or used for buying packs in the Splinterlands shop.

These are the main uses of SPS today, and one of the reasons of why SPS is at such a low price is that many believe that the use cases are just not there yet.

You can have your opinion just as I can have mine, and for a token that started being airdropped just 144 days ago, SPS has produced great value for its holders and the current utility is indeed limited, but you can't humanly expect the Splinterlands team to deliver everything at once.

Things take time, and what we have, for the time that has taken, is freaking amazing.

Chaos Legion

Chaos Legion has arrived and, although there's plenty of things to come still, we have to take a step back and understand what just happened.

In the months prior to Chaos Legion, the Splinterlands team has been preparing themselves for this point in time. More than 1 million packs have already been sold, and because each pack contains 5 cards that means that around 5 million cards have been added to the game and economy. It's fair to assume a little, since not all packs are opened, but it still a lot of cards.

For the servers, the blockchain and the global economy of Splinterlands to handle such a change seamlessly it is anything but nothing. The showcase of competence and organization is a great green flag for me, and you can look around the whole universe of NFT's and blockchain gaming, and you'll see nothing like it.

If you take Forge from Gods Unchained as an example, that has taken more than a year to be fixed, and Splinterlands in less than half of that has delivered SPS, vouchers and an entire expansion of cards with Chaos Legion.

Chaos Legion speaks not only for the Splinterlands team, but for the strength of the Hive blockchain itself, and how it still remains a very underrated blockchain.

Adding Value to the Game and SPS

By constantly adding value to the game itself, devs are at the same time adding value to SPS. By virtue of being the governance token and the main token of Splinterlands, everything that happen within the game will eventually have some connection with SPS itself. What we see in Chaos Legion is no coincidence, and you can expect SPS to be constantly gaining features in the future.

Not many understand that the game itself is what means the most. The quality of the game and how the economics are sound will drive the adoption and retention of players and bring investors to the game.

It is all connected with the quality of the experience that players have in Splinterlands, and even if SPS is not gaining any use cases you can clearly see Splinterlands evolving, and that is meaningful to the SPS price.

Feedback from feedback.splinterlands.com, is being used to gather information on the customer experience, and almost every week we have some little changes implemented. Constant little fixes can change the whole feel and experience of a game overtime.

At the end of the day Splinterlands has no equal in the blockchain space, and they remain the only dev team that treats the game as a game, and because of that we have the growth and the insane increase in value that we have experienced over this year.

If you don't believe it, wait for 2022. Time speaks louder than man.

Land, Modern and Wild Formats

Praetoria is around the corner, and before that we will probably see the arrival of the Modern and Wild formats of Ranked gameplay. That will double the reward pool of DEC daily, and add a lot of value to players in the long run. We have no idea of what will actually come together with the release of Land, but the only certainty we have is that a lot of things are coming into Splinterlands, and every single one of them will add value to the economy, the investors and the players.


I have mentioned this before, but Governance is COMING! Aggroed has mentioned this on discord in the past, and we can have governance being a feature of Splinterlands as early as the end of next year.

More about it

Some Town Hall Comments This Week

For a full Town Hall summary -> Town Hall

But two things said by the dev team speaks a lot to me, and here I'm paraphrasing.

From here on, everything we do, we do with the idea of adding use cases for SPS. And SPS is on our minds in everything that we do.

The second one is this.

There has never been so few support tickets like this since July. Every month we have a decreasing number of support tickets and we're dealing with them faster.

The first quotation shows the intention that the dev team has for the future of SPS, and how important it will be. The second one shows a little bit of the quality of their work, and if you take a second to process it you'll be shocked. To have fewer tickets after the explosive growth that Splinterlands had this year is insane.


  • Growth is insane
  • Improvements are everything, in every front
  • Hive blockchain is awesome
  • A lot of new features are coming into Splinterlands, and all of them will add value to SPS and probably many different use cases for the token itself
  • The team behind this game understand more about how to make Splinterlands thrive than I can describe and we can see the level of their prowess in their execution of Chaos Legion
  • The Splinterlands game is awesome too.

Am I buying SPS

Those are my SPS holdings and I have been staking everything I receive in my daily airdrops daily. I'll be honest and say that I'm probably not buying SPS right now, and the reason is very simple.

I'm trying to invest a little bit in other projects such as @ehon, @psyberx, Astral Entities, this brand new project from @flauwy, and some others, and everything else I gather right now I'm using to buy Chaos Legion Packs and maybe get a lucky car airdropped to me.

In any case, I'm not a financial advisor and you should always act as you see fit.

Thanks for Reading!

Start your Splinterlands Journey today!

If you enjoyed the content and wanna follow along I'd be very honored to have you, and you can always check my latest posts here:

Posted Using LeoFinance Beta


Reading your post was refreshing and solidify my resolution to keep holding the little amount of SPS I've got from the Airdrop! Great reading as always :D

I'm trying to invest a little bit in other projects such as @ehon, @psyberx, Astral Entities, this brand new project from @flauwy, and some others,

Right here that's what I'm aiming to do too on the short term!

I appreciate your perspective, and I'm bullish on SPS long term. It seems I'm significantly less bullish than you though because I think SPS is still quite high. I remember SPS selling for pennies, and being excited when SPS hit ten cents. I think it hitting a dollar was insanely awesome and amazing, but it was clearly that high because of CL Presale hype. I would say SPS still being as high as a quarter is very strong and confirms that Splinterlands is a strong game with a bright future.

I didn't get into price too much, and it's very trick to do so because the supply of SPS right now is only ~10% of the maximum, which should be distributed over the years. It wouldn't be very accurate to consider only the current circulating SPS, nor considering the total supply.

So I went with a more "simplistic" view, although based on solid fundamentals. If the player experience keeps improving, we should see higher adoption and retention of players and that would drive value up of most assets in Splinterlands, especially SPS. When I say SPS is mispriced, I'm considering the long-run, and I don't think my SPS will be worth less than 10x the price of today in a 2 year period or even less.

Overall I agree with what you said and I'm pretty happy with my SPS right now. o//

Awesome!!! I'm glad we agree, and I'm so excited for this amazing road ahead of us!!!

Correct me if I'm wrong but I remember that SPS will be given as battle rewards in the future, maybe that's why they didn't airdrop the majority of SPS supply.

Yes, that is accurate and in the SPS Whitepaper they release a good while ago the numbers are:

Airdrop SPS - 400,000
Play To Earn SPS - 900,000

So we can expect more than double the amount of SPS airdropped to be distributed in Battle Rewards and maybe other things as well. This 900,000 are to be distributed in the period of 65 months.

As a side note for you man, the same amount (900,000) will be distributed as rewards of providing LP and Staking in the same time of 65 months.

So we are still very early into the SPS that is in the market, and just as early in the implementations and use cases of it.

I am pretty happy with Splinterlands and the performance of SPS. I am having a great time plus earning in many different ways.

The best thing about the SPS airdrop is that you can earn and have fun while doing it. Agree 100% bro.

The one line from your post, that to me, sums up the whole thing:

"The showcase of competence and organization is a great green flag for me, and you can look around the whole universe of NFT's and blockchain gaming, and you'll see nothing like it."

You cannot 'buy' competence like that, it comes from an inner spark. I think 'passion' is another word for it.

Great post!

I would completely agree with you. Many people look at the space of blockchain gaming without realizing that this is a business and that is always about the human potential and passion that a team has in the mission that they are performing.

I won't exactly compare them with Elon, but I can see the same principles here, which are competence, passion, and an inner drive to deliver the mission.


I'll add the word integrity to the mix, which both applies to the Splinterlands team, as well as Hive (the blockchain itself) and it's overall community.

I think it matches exactly with what you called it, that inner drive to deliver the mission and add's just a little bit more... that it be done 'excellently'.

When I think of integrity, to me it means... when what you say, what you mean, and what you do... all three match. So far, Splinterlands has solidly demonstrated integrity in many different ways.

I've seen many many projects fail miserably with just small amounts of cash infusions... money tests peoples integrity for sure... The Splinterlands team seems up to the test.

Well said man. That's a great complement, we should write together hahahaha.

Your phrase even remembered me of a quote by Ayn Rand: "The mark of an honest man is that he means what he says and he knows what he means."

Love to have this kind of discussions, be always very welcome and thanks for your contribution.

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