This is why I swapped all my DEC for SPS

1 yr
LeoFinance
4 Min Read
741 words

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The dollar value of DEC has been a major concern for me in recent times. In each passing day, I've seen the token consistently shed value and that wasn't exactly helping my cause.

I understand that the current condition of the market plays a role in the current price of Splinterlands assets but DEC seems to be experiencing the brunt of the status effect. So with that in my mind, I figured that it would be better for me to make some changes that will hopefully mitigate the loss of value.

It is important to note that the only reason I decided to hodl DEC in the first place was because I wanted to increase the amount of SPS I receive from the daily airdrop. However, as the price of DEC continued to drop, simply receiving small drips of SPS was no longer enough.

I reckon that many others also employed a similar approach for the SPS airdrop. However, as we draw closer to the end of the SPS airdrop, I guess many people are reconsidering their position.

At the time of writing, there are 123 days of SPS airdrop left. So it is only natural that many people will be looking at the situation and thinking about readjusting their crypto positions.

For example, some investors could have shoved in thousands of dollars into DEC because of the SPS airdrop and they might have already made profit from the airdrop, so they see no need for holding DEC. Thus, they sell it.

On top of all these market conditions, there's also the fact that a certain section of the SPlinterlands crowd want the price of DEC to return to the 1K DEC=$1 peg because it will enable one to improve their guild and stuff like that.

Personally, I'd be fine with the market deciding the value of DEC. We already have credits as a pegged token, and maybe enabling credit to be used for upgrading guild parameters would be the solution.

Anyway, the point is that there's a chance DEC will continue to drop as the days go by. So, instead of dealing with that loss and holding on to an asset that is losing value, I decided to switch to SPS.

SPS has more potential

No disrespect to DEC because it has been around and is the OG currency around here but SPS token is the new baby. There's a lot of development surrounding the token and this could translate to pumps in the future.

There's also the fact that you can just stake SPS and earn more SPS passively. Then there's also the governance and nodes bit that I haven't fully wrapped my head around but also sounds useful. Generally speaking, SPS token has a lot more going on around.

So this was what spurred my decision to sell all my DEC for SPS. On top of that, SPS is also pretty cheap right now so this is a good time to accumulate as much as possible.

I sold exactly 300K DEC and that translated to about 5700 SPS tokens. My only pain in everything is that I didn't make this decision earlier.

Assuming I had done this last week, I'd have gotten a lot more SPS from the DEC sale because back then, DEC had a better price, and SPS was less than 10 cents. Hell, I would have even made profit from the transaction by now.

After the sale, I staked 2500 more SPS token to get my total staked tokens to around 14k and that will invariably increase my staking rewards and daily voucher airdrop. I'll be adding more to my stake as the days go by of course.

Note that at the start of this airdrop, my target was to get up to 10K SPS tokens staked. Yet, here I am, with 14K tokens staked and ambition to stake more.

I'll still be receiving daily SPS airdrop because of the other Splinterlands assets I hold. That SPS I receive will be staked and also used to buy credits that will enable me to invest in more packs.

I'll still be getting DEC from ranked battles and reward chests, but that's all there is to it. However, all my investment activities on SPlinterlands will now be focused on SPS tokens because that's where there is more interest these days.

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0

I think SPS got more potential too… but DEC is useful yet.

3

Why would anyone want 1k DEC at $1. I've noticed my rentals only seem useful towards the end of the season. Damn, I need to get back to gaming 😭

3

well DEC is supposed to be a stable coin so speculation doesn't really make sense. But as you pointed out the reason for the huge increase was the SPS airdrop. However, keep in mind that SPS and DEC have been very well correlated (until some weeks ago). For this reason I actually expect DEC to recover a bit (but I'm not too sure about that myself). The other point is that if you have pooled your DEC into the pool with SPS because of the drop in price your position of DEC actually increases and therefore also the SPS airdrop. But selling now definitely isn't a bad idea :)

3

I am not huge in the game but I keep adding to my SPS holdings when I can. This is a way to ensure I catch some of the ride that Splinterlands is going on.

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3

Nice idea tbh. DEC might not get any major rally any time soon

1

I do it 3 months ago AND it was great decition.

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1

This is sensible. You changed your Dec for sps. I have accumulate some sps. I bought nft value was $0.48, I think it cost me 245 dec. I think sps is better now, as it's still being staked !

!PIZZA

1

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0

When do you reckon the SPS pump starts again?

I just keep putting off buying in.

...but I'm getting fomo haha.

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1

lol I can't say tbh, zi just keep stacking as much as I can.

I got relegated to Division 2 in Rabona, but I'm going to go straight back to Division 1.

I've won 17 straight matches, scored 46 goals and conceded only 1 😆.

1