As mentioned in my prior post I have a year end goal of trying to accumulate 250k SPS staked. How I am going to get to there will depend on several factors but today while looking through Splinterlands under proposals I found an intriguing draft that effects the demand of SPS.
Over on draft proposals there is a vote as to whether the DAO can adjust investments in liquidity pools on Pancake Swap to ones on BASE. From the proposal it is mentioned that the BASE platform would have more eyeballs looking and knowing Splinterlands hence likely more activities. With more demand we hope higher prices. Interesting in the post it was mention that current total assets invested in Binance is currently only yielding a fraction of its overall value in the past 4 to 5 months.
"the $200,000 worth of liquidity we deployed is now worth over $212,000, but we've only earned $366 in fees over the duration of their existence."
In the crypto space we are use to seeing a few percentage a day so not getting even 1% after close to half a year is really not good. I ponder if the price of SPS is so low is also due in part that without really demand outside Splinterlands? Its likely there is some effect to it.
If you want to read the full draft proposal here is the link:
https://peakd.com/@clayboyn/sps-governance-proposal-reorganize-lps-and-expand-base-liquidity
Even on coinmarketcap the exchanges were people can trade SPS is lackluster at best.
It would definitely help if more platforms that are currently in high use be accessible for SPS would we have better chance of raising demand of the token. As of now the proposal is likely to vote through. I hope it does.
Posted Using INLEO
It's interesting to see that the pool's value went up, but the trading fees didn't amount to too much. I think it's an interesting idea, but I haven't bothered to try touching anything outside of Hive though.
Same here. Outside of Splinterlands and Hive I did not look into other crypto spaces. The scarring of Luna and crypto crash in 2023 leave me not trusting crypto as much.