As promised yesterday, this post is about the SPT token. We'll discuss what the SPT token is, and some things you can do with it. And we'll discuss why it's an important earnings consideration if you're a new play to earn Splinterlands player.
At the end of the post, I'll share my daily progress in game.
Before we get into the nitty gritty about SPT tokens, we need to talk about Hive. Hive is the blockchain that Splinterlands, and many other games and social sites run on. Hive has it's own cryptocurrency called Hive. Your Splinterlands account is also your Hive account. It's all connected.
Splintertalk.io is just one of many social front-ends that you can use to interract with the hive blockchain. For simplicity's sake, we're sticking with it for now, because we're all about Splinterlands.
One of the interesting things about Hive is that developers can create "Tribes", which are essentially social groups focused on a particular topic. Tribes can have their own token and all of this is built on top of the Hive platform. There are lots of different tribes on Hive, with their own dedicated front ends (like splintertalk.io), and tokens. Tokens are tradable and have different uses from tribe to tribe. Splinterlands' token is SPT.
When you post content on Splintertalk.io (or any other Hive front-end) and tag your content with #splinterlands and #spt, you have the potential to earn SPT for posting.
Earning happens when others like your post, and upvote it. Upvotes accumulate an amount of SPT that depends on the SPT Power of the upvoters, and the pool of SPT rewards.
After 7 days of accumulating upvotes, your SPT is payed out and lands in your Hive wallet. But you don't get all of it.
How Much SPT Do You Get?
Posting rewards are split up half and half between those who authored the post, and those who upvoted the post (known as curators).
If a post earned 1000 SPT, you would get 500, and 500 would be split among curators depending on their SPT Power. There's that word again... SPT Power. What is it?
SPT Power Matters
Your rewards will be payed out to you as a combination of SPT, and SPT Power. SPT is liquid. You can sell it, hold it, or stake it.
If you stake your SPT, it becomes SPT Power, along with the SPT Power you got from your rewards. And then your overall SPT Power increases. SPT counts towards your SPS airdrop whether it's staked or held in your wallet.
So, if staking your SPT as SPT Power makes it illiquid, what's the benefit? Good question.
The more your SPT Power, the higher the value of your upvote when you upvote others' posts. And you should be upvoting others, too. I mean, you're not just here all for your own benefit, right? Right?
Upvoting others also benefits you, though. Remember those curator rewards I was mentioning? You get part of that when you upvote. And how much you get depends on your SPT Power.
Powering up is good. In fact, you can (and probably should for your first few weeks) set every post to 100% power up your rewards You can set this under advanced settings in your post window. This will put you in a much better position for interacting on Hive, Splintertalk, and earning my SPT in the long run.
A Note About Hive Tokens
As you post, curate, and get rewards, you'll likely notice that you're also getting Hive (or Hive Backed Dollars aka HBD), and Hive Power. Hive and Hive Power work exactly the same from a rewards standpoint and how they're split between author and curators.
And just like SPT Power, more Hive Power (abbreviated HP) is a very good thing. For more on the basics of Hive, Hive Power, Voting, etc... Check out this excellent post from @ryzeonline. Swap out any time they mention Hive or Hive Power for SPT or SPT Power, and the concepts remain.
Uses for SPT
Before I get into my daily progress, here are some things you should know that you can do with SPT.
- You can trade it for Hive or other tokens on Hive-Engine, LeoDex, or TribalDex.
- Holding or Staking your SPT provides SPS airdrop points at a 4:1 ratio.
- Delegating SPT Power to @monster-curator as per this article earns you more SPT rewards, and therefore, more SPS airdrop points.
Power Up
Community is power, and in a community like Hive and Splinterlands, powering up your SPT rewards benefits you, and everyone else. Delegating benefits you, and the one you delegate to. It's a virtuous cycle.
My Daily Splinterlands Progress - Day 4
Ok, that's gotten a bit lengthy, so let's talk about the game.
I played until 80% DEC capture rate, finishing my daily quest and winning a little bit of DEC. DEC per win is low since I'm bouncing back and forth between novice and Bronze 3 tier. But, I got another Demented Shark for my Daily Quest Reward, bringing my total card power to 30.
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- My total SPS is at .022.
- Card Power is 30
- DEC is at 43.991
- No SPT or Hive yet (remember, this is day 4, and payouts are after 7 days)
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STOPCheck out the last post from @hivebuzz:
Ayyy, very cool post! SPT sounds like it can often be misunderstood, so thank you for explaining it deeper, and for linking to my guide, I appreciate it.
I've been learning about Splinterlands lately and just posted A Fun Guide To Winning At Splinterlands, Even Though I Haven't Played It a couple days ago, so very cool timing on your post and mention here. Anyway, wishing you a great day! 🙏
Thanks for the kind comments and for putting together such a good explanation in the first place.
Have a wonderful day!
My pleasure, wishing you the same! 🙏