Splinterlands SPS Token Supply, Transfers, Staking And Top Accounts | Oct 2022

Something is always happening in the Splinterlands ecosystem and the SPS token is usually at the core of it. The one-year airdrop ended at the end of July 2022, reducing the amount of new tokens issued. At the same time some new burning mechanics were introduced.
Recently a new mini edition Riftwatchers was launched, that is available to buy only with the SPS token and Vouchers. These are then burned. The tranche 1 licneces were also sold out fast. All these events burned SPS.

The total supply for SPS is 3B and they will be issued in a period of 5.5 years after the launch. The airdrop is no more but new ways to issue the token were activated like the play to earn pool, the rewards for nodes operators and the rewards for liquidity providers. Still these are smaller numbers than the previous and will take a longer time frame with a slower rate.
More info about the token in the SPS whitepaper.

Here we will be looking at:

• SPS transferred out of the game
• Top accounts that transferred out SPS
• SPS Supply
• Staked SPS
• Top accounts that staked SPS
• Overall supply, liquid vs staked
• SPS Price and Market cap

The period that we will be looking at is July 2021 till Oct 2022.

SPS Transferred Out Of The Game

Here is the chart for the both, transfer to Hive and BSC. This is sort of transfers to exchanges for the token.

The orange bar is BSC and the white one Hive Engine.
There seems to be a peak back in November 2021 and a slow decline since then, and a peak again in the last months, with more volume going to Hive.

Let’s see the monthly chart for better visibility.

A better visibility here and we can notice that there is more volume in the last months. This is probably due to the recent events and all the new elements that were added in game, but also just an overall expansion of the token supply. We can also notice that the transfers to Hive are now bigger than the BSC, that was dominating at first.

Note that transfers out of the game doesn’t mean that these are claimed and transferred tokens. Transferring tokens between markets, arbitraging, etc is taking a big part of this. There are also transfers IN the game, from the exchanges, and the overall result in SPS transferred out is lower then the above

Top Accounts That Transferred Out SPS

Who is transferring out the most? Here is the chart for the last 30 days.

The @sl-cold account is on the top by a lot, probably some official game tokens. Then @toni.point and @konvik.

Supply

How is the supply doing? As we mentioned there has been change in the token distribution and inflation. The private token sale had 10 months vesting period and that is ended. Then the airdrop for asset holders ended as well. Meanwhile new ways to distribute the token were launched like rewards for battles won, liquidity providers and node operators. Burning mechanics were introduced as well.
Here is the chart.

We can notice the sharp steps at first. This is when tokens were unlocked on a monthly basis. Since February this year there is a daily issuance of the token happening on the BSC chain.
Overall, we can see that the amount of new tokens entering the supply has decreased and there are burnings that are happening now. The light color on the chart.
The current circulating supply is 883M tokens with 56M tokens already burnt.

Staking

What about staking? Are players staking some SPS? Here is the chart for daily net staked. Positive bar means more staked in the day, negative more unstacked.

Well, this is interesting!

There has been a lot more unstacking in the last months than staking. This is most likely because all the new sales that were launched and are exclusive to buy with SPS. Users needed liquid SPS to buy those. Also there are nice incentives for liquidity providers, so some tokens might end up there.

Note: the above is a net staking, meaning staked and unstaked SPS combined. The data is collected from the blockchain. There is no record of cancel unstake operation and I have made some manual adjustments for it. It’s not a 100% accurate data.

When we plot liquid vs staked tokens we get this.

The recent unstaking trend is clearly visible here. It started at the end of July 2022, with the end of the airdrop, and since then more tokens are constantly being ustaked. The liquidity pools seem to be a preferable way for a lot of stakeholders to park there tokens in.
A total of 423M SPS staked at the moment.

The pie for the staked vs liquid tokens at the moment looks like this:

More liquid now then staked. A 48% staked VS 52% liquid.

Top Accounts That Staked SPS

Who is staking the most?

The @gosplinterland5 account is on the top here with more then 10M staked. @spswhale on the second spot, followed by @gsm8.

An overall data for the top accounts that hold staked SPS can be find on this API.

SPS Price and Market Cap In 2022

At the end the price chart for 2022.

These are average daily prices.

An overall downtrend for the token since the beginning of 2022, with a small recovery from recently.
Since June the SPS token has been in a range from 5 to 8 cents.
The SPS token went trough an aggressive token issuance in the first year. Because of the aggressive increase in the supply, the market cap might be a better metric.

The market cap for SPS in 2022 looks like this.

We can notice that in 2022 the market cap has been constantly around the 60M mark. It doesn’t have that drop as the SPS price has but has hold better.

All the best
@dalz

Posted Using LeoFinance ^Beta