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Passive Income turns to - Adding SPS - DEC Liquidity with 40+% APR...

avatar of @gungunkrishu
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@gungunkrishu
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3 min read

Hey All,

After giving a lot of thought, I decided to redirect my passive income stream i.e. $DEC and $SPS to entering the SPS - DEC Liquidity Pool which at the moment is giving 43+% APR. My current liquidity position is worth $1.7K+ out of which 75% goes to the PKM - SPS LP. Most of my Splinterlands cards are rented out and its giving me a decent return in the form of $DEC. But then I thought - How about I leverage my passive income stream and put it to use to further print money for me... So here I enter the SPS - DEC Liquidity Pool

SPS - DEC Liquidity Pool

This is not all the $DEC that I have put to use. I still HODL close to 200K+ $DEC in my game account and for which at the moment I am collecting the equivalent $SPS to enter the LP pool. Which means I need to have 5K+ $SPS liquid. I am in no mood to buy $SPS but rather would be relying on my daily $SPS staking rewards along with swaping my $PKM rewards for $SPS

The other way out is that I swap some of the $DEC with $SPS and enter the LP. But that ways I loose on the low price of $DEC; which currently is not at its peg value. So have decided to slowly and gradually increase my SPS - DEC Liquidity pool value by adding tokens to the pool daily. I have a good amount of $SPS staked which is equivalent to 212K+ $SPS at the moment and am still building my portfolio with $SPS as the Land & the Nightmare Rewards are all staked daily.

I am a strong believer of this governance token of the game Splintershards (SPS) expecting the price of $SPS to rise in this fiscal year, 2023. The more $SPS tokens I accumulate the more I want but I need to put a stop somewhere by setting a limit for $SPS. I will continue to be accumulating $SPS this year as well.. more on the $SPS target for 2023 in my next post; targeting 300K+ $SPS though.

Finally, coming to the SPS - DEC Liquidity pool, I am planning to build it worth $1K+ to start with and then would adjust accordingly. The faster I get here the better it is as this is going to help me get more $SPS along with the already LPs [SPS - BNB & VOUCHER - SWAP.HIVE] giving me decent $SPS daily. My earning for $SPS is close to 400+ tokens daily as the major $SPS reward component is from Land rewards. I am getting close to 170+ $SPS for HOLDing land assets and remaining comes via the staking and LP pools. If, play it safe and enhance my SPS - DEC liquidity pool daily then I should be able to achieve the target of $1k+ in LP in 3 months or so; this should be a great achievement overall. And that too coming from passive income streams.. commendable isn't iT?

Overall, I'm bullish on $SPS and all this investment here is for long term not looking for immediate profits. With Lands dynamics coming into the game in early Q1-2023 we would see more use cases associated with $SPS, therefore without a doubt we would see some price action for $SPS hopefully; I am optimistic about it; not too high but at least we could see $SPS in the range bound of $0.20 plus or minus and if it moon that would be great.. so always plan to have some liquid $SPs as well.. cheers

Passive Income turns to - Adding DEC- SPS Liquidity

#dec #sps #rewards #splinterlands #sps #stake #rewards #liquidity

Best Regards Image Credits:: splinterlands, beeswap, tribledex

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