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Can we Treat DEC like a Stable Coin...?

avatar of @revisesociology
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Zebedee
@revisesociology
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2 min read

The price of DEC recently dropped below $0.80 for 1000 despite the fact that it has a soft-peg to Chaos Legion Packs because you can buy the later for either $4 or 4000 DEC.

The only problem is that the current value of Chaos Packs, determined by the current resale value of the contents of an average pack, is only around the $2.50 mark which actually makes DEC Overpriced!

HOWEVER, we are currently going through a brutal dip, and Splinterlands assets overall have held up remarkably well in this crypto-recession.

And looking at the prices of earlier packs - they have held their value remarkably well too:

Granted, there were several times fewer Untamed and Dice packs minted compared to Chaos Legion, but if this trend holds true over the next year, then Chaos Legion packs SHOULD also be above $4 a pack.

It's an interesting one with Splinterlands - obviously the assets are correlated with the price of Bitcoin and Hive, but they do seem to have benefitted from having this Chaos-pack peg, and also maybe the Node-peg, although these are quite loose.

And it is also a game you can actually play, with some nice collectibles (the cards are nice to look at) and with the next signficant phase - LAND - yet to come, so it just has this feel that it's not ENTIRELY linked to the broader crypto markets, much less so than many other projects out there - it's about more than play to earn it feels.

Personally I want more Chaos Legion cards anyway, I don't want to buy ATM because of the declining DEC price, on the open market that makes it more pricey (I think?) and also DEC still yields me SPS which I want more of (I think that's going up long term) - and so I think it's a reasonable time to hold DEC.

And because of the Chaos Legion soft PEG and the historic performance of other cards, I'm just feeling like buying DEC now is a sensible move - even if it goes down, I can redeem it for cards which is something that I want more of anyway.

And I'm sure DEC is going to have plenty of utility with land going forwards....

So DEC is a cautions buy for me ATM...

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