SPS Milestone: 500k Staked!
Finally, 500k SPS?
It took a ridiculously long time to get this since I received a large portion of it from staking and playing the game. And yet I am still at at a heavy loss overall. I think I poured over $15k into the game over the last 5 years and I got maybe $5k out of it (honestly this is just a guess and maybe it's good I don't know the real numbers). So I am probably at least $8-10k down. 🙃 And yet it would "only" take a 4x to get me even; considering SPS is at ATL levels right now that doesn't seem too hard if we get a market recovery. Not even speaking of the constant developments we are seeing (which also signals that the game is anything but dead!). SPS validator nodes went finally online, Conclave Arcana is coming out soon, and I believe there will also be a marketing push.
Strategy
Having 500k SPS staked which is "only" around $3k currently, I have decided to now power more SPS up. It should be enough if we get a mediocre alt season (to get even again) and more than enough if the game makes any kind of breakthrough or there is a real alt season. So I want to use the staking and delegation rewards for selling into Hive for the moment. It is around ~30 Hive per week which is not too bad actually. This mainly comes from:
- Staking Rewards: around 560 SPS per week + Voucher rewards
Vouchers can be traded into DEC as well and it is around 800 DEC.
- Delegation Rewards: this is where the majority of SPS comes from. At 500k this is around 3400 DEC.
Conclusion
It's nice to have another source for buying more Hive. Overall I think buying coins/tokens that provide staking rewards might be a very underrated criteria. This really builds up once one has a couple of these coins and is explosive when price goes up. Will I ever return to playing the game? Probably no, but that is mainly because I don't have the time anymore and not because it's dull or so.
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Congrats on hitting 500k SPS! Your journey sounds like a rollercoaster, but your strategy for recovery is solid. Here's to hoping for a strong market bounce and more exciting developments in the game. Keep us posted on your progress! 🚀💼
Wow congrats big man.
I put just over 1k$ into the game and I've only like taken maybe 10$ profit and portfolio is down, like -90%, but since SPS is probably at its lowest and the market might pump soon, I'm hopeful.
Congratulations on 500k. That's a staggering figure. I'll look at it as half a million lol.
Yeah... $1 is probably not coming back again 😅
I am hoping for a real come back this year
Yeah, I doubt that too, unless perhaps the game onboards in some extra 20 to 50k players, who knows, it might be possible.
Man, 500k SPS staked is huge, even with the losses, your strategy makes sense, just need that market recovery. I see crypto games require so much patience. I hope SPS makes that 4x for you soon
Thanks, I mean in $ terms it's not that much. But I am kind of mentally attached to the stake due to how long it took to get it
i could imagine.. with that length of time I myself would be heavily attached to the stakes. You're making awesome achievements... I respect it 💯
Congrats on reaching the 500k milestone! Hopefully we'll see market recovery for alts and that Splinterlands will benefit, especially with all the things going on with the game lately and the soon to come marketing push.
Yep, I hope so as well. Btw dis you notice that the stats for sps have changed on splinterlands.com? In my fist screenshot it now says 1B circulation (it used to be 1.6) but we also have a higher MC?
I didn't notice that. I wonder where the difference may come from...
Congratulations! I have only managed to reach 132K so far. Accumilation will get harder as more players join in when the marketing efforts go live.