I am gathering Splintershards (SPS) since the moment the currency was added into the Splinterlands realm. While I could have sold some, in the beginning the airdrop wasn't so big, thus it wouldn't make a real bump in my finances. On the other hand, while I have continued gathering SPS and staking it, the price continued to deflate until all time lows. And now even if we are in a bullish market, for some reason, Splintershards doesn't seem to take in value and its hovering around $0.01. Why? I couldn't tell, but for sure there is a reason behind it. There might be too much selling pressure, there might not be a large enough user base, so many possibilities. But I still hope things will improve and Splintershards will start to shine once again.
Until Splintershards will take the spotlight, I will be continuing to stake one SPS over another. And I am quite happy to have surpassed 145,000 SPS staked and I am not stopping anytime soon. For now only the ski is the limit for my goals of staking Splintershards, so anything I can get my hands on, be sure that it will be staked. A good reason for doing that is also the fact that it also offers a good fully passive revenue stream with a +10% APR just for doing that. That beats any bank deposits, so I simply cannot not take advantage of it. Let me list the most benefits that staking SPS brings and you can decide for yourself if to jump the wagon or not.
Fully passive revenue stream
As already presented by staking SPS you will get a revenue stream just from that. At the moment there is a 11% APR for your SPS staked, so that's a nice amount to get each second just for that. The rewards are given in SPS and Vouchers, which can be traded either way.
Proportional rewards
Staking SPS provides a steady stream of rewards, including more SPS tokens on the battles won. The rewards are proportional to the amount staked and provide passive income opportunities. There is a Staked SPS multiplier which applies on the rewards from the battles and when winning, in my case, that's standing at x 10.61. That's a good boost for the earnings.
Governance participation
Staking SPS gives you voting power in Splinterlands decentralized governance, which is quite important for the future of the game and its developments. Players can participate in important decisions about the game's development, economy, DAO treasury and other updates.
Lower the SPS market volatility
Staking SPS helps strengthen the volatility of the SPS market by taking a big portion of it from the market. The old bot farms and damage already done is still affecting the price, but at some point that will fade away. And in that context the staked SPS which has about ~1 Month period to get it liquid in your balance, should offer a good buffer for big liquidations and market movements. That can only strengthen the SPS tokenomics.
Value appreciation potential
I am staking SPS since it was first released in the game. I believe that SPS has long-term appreciation potential as Splinterlands continues to grow in popularity and utility. By accumulating when everybody lost all hope it either makes me a crazy person or might make me hit it big if things turn around. The game has a great community, it continues to grow and develop and with a contextual bull market and serious marketing push, it could bring back the glory days.
And probably there are many other reasons why staking Splintershards is a good business. But as my fingers started to get on fire, I will not continue with those as I think these are quite enough and concentrated the most aspects of SPS that I appreciate. So in my case, I will continue to stake each and single Splintershards from the Splinterlands until it will shine like a Diamond! 😀😄
Come join Splinterlands as well and find your hero: https://splinterlands.com?ref=sm-goldies
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Congrats man, keep going, soon you will have like 1-2K up every month from rewards only.
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