Splinterlands | Reaching 200k Staked SPS Goal!

As the price of SPS continues to go down in Splinterlands, I keep moving my goals higher and continue to cost-average in more while earning from playing the game. Yesterday, I reached 200k+ Staked SPS!

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How Low can SPS Go ?

With each change and new proposal, pretty much more players leave putting selling pressure on Cards and SPS which has created a death spiral and no immediate reversal in sight.

At the current price of 0.0082$ and a circulating supply of 1.5 Billion SPS, it has a 12.3 Million Dollar Marketcap with less than half of the supply to still be given out while eventually SPS will need to get burned the moment enough DEC got burned to restore to peg. The lower SPS goes, the higher this burn will be. On top, there is roughly 1.5 Million dollar in non-splinterlands assets in the DAO that actually gives it some fundamental value. The SPS Staking rewards also act as a counter to the inflation and price decline. This makes it attractive for anyone who manages to buy the absolute bottom.

While things don't look good right now, I do still really enjoy playing the game and once all the sell pressure is gone and the new player experience in play things easily could get back in a positive feedback loop with all the new players having assets in the game bought at the lows that actually increase over time. So overall I'm still hopeful maybe foolishly so.

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SPS Staking Requirements Increase !

Wild mode with the Fee to play, now has become a game mode where only really invested players are able to comfortably play and keep earning. While I would liked to have seen it done through a Collection Power Requirement, this current solution also seems to work as pretty much all of the bots gave up and many including myself also ended their alt account while Wild right now really pushes players to combine cards.

Modern Staking Requirements (Wild =x2)

At current prices, things feel quite balanced but it quite sucks that because prices went down so much that they just doubled the staking requirements. Right now these are fairly easy to reach, but in case SPS would go up again x5 / x10 it's going to get really expensive again to get the most out of wild.

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SPS Accumulation !

SPS January 2024	SPS March 2024	SPS June 2024

It's pretty painful to see how the value of SPS has totally tanked and I never though that it would ever go this low. at the same time it might potentially be a great opportunity when the trend finally reverses. I did bring in some outside capital to buy some more SPS this past week and I still have 16200 SPS on Binance Chain but it is impossible for me to get it in the game using Metamask. So I will need to either sell it back for find another way to get it into the game. I have now set my goal to 250k SPS which I should reach quite quickly as I'm transferring over the SPS from my alt account.

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Bought 2 Land Plots & SPS Wild Earnings !

While the SPS price got hit by the Wild tax and the measures to remove all the value extracting bots out of the system, the SPS earnings in Wild have gone up along with it. The things that Splinterlands is missing right now is that the earnings really are with the time investment (aside from the fun). In that regard, it's better to have high card/sps prices and higher rewards. Recently a bonus got added for Battle rewards (or in other words a decline for those who don't own land) which got me to buy 2 more land plots getting my total at 5 which is the sheer minimum.

I did pay 22$ for those 2 extra plots which is crazy knowing I sold 10+ Land plot claims for 100$+ each a while back taking some funds out of the game. These 2 extra land plots now give +5% earnings on all my wins which will add up over time paying back the cost.

All this now makes me earn around 5 SPS for every win and I assume that this will go up a bit more as we are still within the 15-day window where all the bot farms that exited still count. I also soon will reach 250k SPS Staked. The increased SPS Staking rewards also add up and I earn more vouchers than I need to pay the Wild entry cost each Season.

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Conclusion!

I still do believe that better times eventually will come for Splinterlands and continue to cost-average my way in while enjoying the game more then ever now that I moved up to Max Level Cards. I'm also still buying more cards at current prices and increased my Staked SPS Target to 250k

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