Staking SPS, Vouchers and Chaos Legion Packs
I've been accumulating vouchers for a while now, at a steady rate, thanks to the 14k+ SPS that I have staked. I had almost forgotten about the voucher tokens and checking their market price, kind of reminded me of the immense value that Splinterlands holds.
At the time of writing, I receive about 0.7 Vouchers daily, which translates to about 80 cents a day and that's not much in the general scheme of things. However, when you couple that with the fact that I'm also earning SPS from the staked SPS, life seems a lot less horrible.
SPS currently trades at around 9 cents a token these days, and that's a far cry from where it could be. However, it is just a sign of the times, rather than an indictment on the token.
There's still so much development to come in the SPS department, and I believe that the sun will rise again for SPS.
At the time of writing, it is almost a 50:50 split between staked and Liquid SPS with a marginal skewer towards the staked side. Meaning that a decent chunk of SPS is currently staked.
The governance uses of SPS tokens will be rolled out before the end of the year, thereby incentivising SPS staking.
The airdrop ends in roughly 72 days, and I believe that we'll start seeing some positive movement in the price at the end of the period. I believe that a decent chunk of selling pressure is due to the fact that a decent chunk of SPS token is still being pumped into the system.
Very Liquid
The Splinterlands card market has been pretty solid throughout this period. There was a period when monster value dropped but generally speaking, it has been quite steady.
It is important to point out that while the monsters are NFTs and don't have specific market values, there is a bidding system in place, as well as applications that track the minimum sell orders in the market. This is what is used to track the market value of Splinterlands monsters as a whole.
Splinterlands is among the few NFT projects that has a lot of liquidity and this is generated from the widespread interest in the game that cuts across various blockchains and crypto spaces.
It is fascinating how regardless of the situation of the general crypto market, the interest in SPlinterlands doesn't ever wane. This is why I'm still fairly confident that Splinterlands assets have the capacity to be used as collateral for loans on hive blockchain.
Where the packs at?
The market price of Chaos Legion packs is still below $3 at the time of writing. On the surface, I think this might be an opportunity to pile up packs for the future, at a much cheaper price.
At $2.5 per pack, you'd be getting roughly a 40% discount for each individual chaos legion pack that you would have bought for $4 inside the game. The only advantage of buying ingame is the chances of getting airdrop but frankly speaking, if you're not buying hundreds of packs, there's little to no chance of actually getting the airdrop.
I'm seriously considering buying packs with the voucher revenue I generate from staking SPS. At the time of writing, I could get as many as 12 Chaos Legion packs on the market, instead of buying only 8 packs in-game.
So the process will be;
- Stake SPS
- Farm vouchers
- Sell vouchers for packs
- Stake farmed SPS to get more vouchers. Rinse and repeat.
I believe I should be able to buy around 10-12 packs per month. The only drawback is that I'll miss out on any benefit that comes with vouchers but considering I would have used the vouchers to claim bonus packs in the first place, technically we could say they're serving the same purpose.
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Twitter: https://twitter.com/belemo__
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