In order to see where we are today versus the start of SPS inception let us first look back at the white page about Splintershards (SPS).
Reference Link here: https://sps.splinterlands.com/
In total there will only ever be up to 3 billion SPS ever to exist.
Token Distribution
Airdrop: 13.33% (400,000,000 tokens) - Issued over 12 months
Foundation / DAO: 10.00% (300,000,000 tokens) - Issued over 65 months
Private Sale: 6.66% (200,000,000 tokens) - Unlocked over 10 months
Unallocated: 9.00% (270,000,000 tokens) - Unlocked over 65 months
Partners / Advisors: 1.00% (30,000,000 tokens) - Unlocked over 24 months
Play to Earn: 30.00% (900,000,000 tokens) - Issued over 65 months
Staking / LP / Oracle Rewards: 30.00% (900,000,000 tokens) - Issued over 65 months
Let us look at how each of these SPS distribution is today.
The airdrop of 13.33% SPS started in July 2023 and ended one year after.
The Foundation/DAO started off with 10% of total SPS supply. As of today they hold almost 3.3 times more in that amount. According to Splintercards.com the DAO currently controls close to 1 billion SPS.
I could not find definitive data on where the 470 million SPS for private sale and unallocated are, but they were scheduled to be unlocked at 10 months and 65 months respectively. The white paper is over two years old therefore it can be safely assumed that the private sale has passed and all associated SPS unlocked. For the unallocated amount distribution of 65 months if we assume most conservative where none of the tokens are distributed than there is still 270 million.
Partners / Advisors have 30 million that are distributed over the course of two years. We are into Feb. 2025 so assuming this distribution started at the same time as the airdrop we are close to 75% completed with distribution. That means about 7.5 million SPS remaining to be shared.
The two largest distribution are the play to earn and staking+ liquidity pool awards where each containing 900 million SPS that are distributed in 65 months.
In brawls there are +45 million SPS distributed:
In daily ranked battles the distribution goes something like this: 1.8 million SPS distribution to modern play monthly and 0.9 million SPS distribution to wild play monthly. In total we have close to 50 million SPS distributed in ranked battles to date.
There is liquidity pool earnings, land expansion earnings, and other side games such as Soul Keep that can earn players SPS but data for overall distribution is sparce.
What we can see is the current amount in all players holdings:
Therefore there is only about 900 million SPS remaining to be distributed in the remaining years. This may not seem like a lot but I would imagine the DAO's holding fluctuating to have control of supply and demand during times of crypto booms and busts. I assume this base on the current situation where DAO is holding more SPS than it started with because the value of SPS is at all time lows. As the potential demand and price for SPS rises maybe the DAO will distributed more SPS making the overall SPS distribution far exceeding that of 900 million.
In case you were wondering the top holders of SPS at present date is below:
The top 15 SPS holders:
A lot of familiar names here. From top players to creator of the game and current developers the top 15 current controls ~57% of all SPS ever to be created. That is not including the 900 million remaining to be printed but still an amazing stat!
One last piece of the overall SPS is the null category. Note close to 132 million SPS has been burned. These SPS will never see the light of day ever again in circulation. That means the overall SPS currently stands at 2.862 billion, and not the 3 billion where we started.
I wanted to review for myself the SPS current circulation numbers because I am hoping to see its prices start to bottom. For the moment there seems to be some evidence that prices have stabilized but will it turn up remains to be seen.
With almost 1/3 of the entire SPS that are ever to be printed staked and top players controlling 2/3 of the entire SPS supply it does not seem there is a lot of SPS for players to share. In fact if there is another crypto boom like that of 2018 we maybe able to see SPS prices soar. If that is going to happen we can understand why now. There is less SPS in supply while more demand entering the market.
Until next time thanks for reading!!!
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Posted Using INLEO
It's nice to see that SPS is stabilizing. I am guessing the DAO holding most of the SPS means it will be distributed slowly over time. So we should see that come out over time.
Its a good point you bring up. The whole distribution that started at 3 billion SPS is not really the same anymore now. Indeed DAO controls a lot more than initially thought and may likely be able to control prices down the road since it controls supply. Thanks.