Having playing Splinterlands since 2021 Jul, understanding the economic of Splinterlands and highly belief that profit could be made, I decided to raise money from a small group of people of a total $8000 USD. I would like to thanks Bro Raymond for his brofi idea that I dare to take this step.
So how do I use this pool fund of $8000??
I actually spent all the fund into buying chao packs during the 1st day of general sale. I also actually go and borrow 400 vouchers at a rate of 1.5%/month to use for the bonus 400 packs.
As a result, 2000 packs + 400 bonus packs = 2400 packs just for $8000.
I would like to STRONG HIGHLIGHT that I am NOT OPENING the packs. I am holding it for airdrop points, value retention and low safe.
One of the risk I have highlighted is that the packs will immediate drop in price in the secondary market. So this fund need to prepare for losses right off the hook, but the fund is entitled to the upcoming 12 airdrops cards. I will plan to use the airdrop cards to pay back the vouchers and subsequently stock up more packs from secondary market or direct purchase.
So how well did it do so far after close to a month?
I would say i am quite proud of the situation. Given that crypto had been bleeding for Jan where ton of crypto projects/coins drop by half or more, the fund has retain a lot of its value. Let's see what do we have.
Daily SPS airdrop
With 2400 packs and each pack is worth 300 airdrop points, I have like 720k airdrop points. Initally, I am able to claim about 66 SPS/day and now about 64.5 SPS/day. Do note that this number will keep dropping.
.Staking SPS
By staking SPS, the APY is about 30%+. I will do a daily compounding of the SPS. As you can see from the above picture, there is a tiny bit of SPS claimed from staking. This portion will grow bigger as the SPS staked base get bigger.
.
Daily Vouchers airdrop
As you can see from the above picture, I manage to accumulate 1184SPS staked, and able to get close to 0.1voucher/day. Hopefully, as more sps are staked in the upcoming months, the daily payout of the vouchers will also increases. The airdrop vouchers are meant for paying back the borrowed vouchers.
.Airdrop cards
This is where the risk are. I choose to buy directly from shop instead of the cheaper seondary market is due to be able to get airdrop cards. And surprisingly, so far the airdrop card luck has been very very good as compare to my original account. So far there are 4 airdrop cards. Here is how many airdrop cards this fund gets.
What great luck. 3/4 of the card airdrop has legendary gold foil!
I end up selling all these airdrop cards to pay back as many vouchers as possible.
By selling all the Lira, Iza and Grum, the fund managed to rise $455 and returned 223 vouchers all just within 1st week of the fund operation.
During the Spirit Hoarder airdrop, the fund can repay another 116.6 vouchers.
As the vouchers was borrowed on the 16Jan, the interest had yet to kick in so currently, the fund still owe 60.4 vouchers.
So what is the current asset value for the fund?
Pack: $3.25 * 2400 = $7800
SPS: 1184 * $0.124 = $146.80
(loan)Voucher: -$1.40 * 60 = -$84
Total current asset is $7862.80! Dont forget that the fund will continue to get free sps airdrop everyday for the next 5months, and there are still 7 more card airdrop!
If you are interested to join Splinterlands, here is my referral:
https://splinterlands.com?ref=namelessnameless
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Congrats on the Gold Foils!!! All the best!
Thanks for sharing! - @mango-juice
