While the crypto market is bleeding, the Splinterlands is blossoming through its developments and through the things that are being built and which provide more use cases for the game tokens. And one of them that we all had big hopes on since its ATH of $1.07 – Splintershards – is getting new use cases which can only strengthen its value. That will not happen overnight, don’t think of a get rich quick scheme, but the ripple effect of capturing more value will be seen in time. While in the beginning its only case was for governance voting on the DAO Treasury, now we see more and more use cases popping up or on the pipeline. So within this post, I intend to try to check all the usages for Splintershards $SPS asset.
As a governance token, the SPS holders have a right in the saying on how the funds from the DAO Treasury are spent. On top of that, game changes related to game tokenomics or new features from the white paper are also going through governance voting, so this is a good incentive to hold some in order to have a voice in big decisions impacting the future of the game.
The SPS earnings are a way to distribute tokens through Rewards Chests, from both Daily or Season battles, to the players that are engaging and putting the time in the game while having fun. On top of that SPS can be earned as well from Tournaments and all these channels provide revenue streams for the players, alongside the NFTs which are now Soulbound. By distributing SPS while playing, it creates a vacuum for players to be here day after day.
This will be a new use case when Land will go full steam ahead and it allow players earn SPS by staking cards on land and putting them at work. Instead of getting SPS for just holding land as it currently happens, you will need to commit more resources in case you want to harvest SPS out of your land. A great move which will impact the SPS distribution which could see more earnings to few players who will move forward with this strategy.
So, what’s the first thing you can do after you’ve earned some SPS? Well, you can trade it even if I wouldn’t recommend it at this prices on the market. Why? Just because of the next use case which might make SPS from an abundant asset to one more scarce to maximize your earnings. But until we get there, trading is an important factor for SPS as it can be traded for the game stablecoin – DEC, the blockchain on which the game resides – HIVE, but even on more treasured assets like Ethereum and Bitcoin.
The long awaited SPS requirement for battle rewards (including chests and SPS per chest) which was part also of the whitepaper, will soon become a reality. This is what will move the entire SPS tokenomics to a new era where many roads will be opened for this asset. It should reverse the market sellout and add more pressure on buying considering that in order to maximize your earnings, you need a certain amount of SPS to be staked per each League.
With the SPS becoming a requirement to maximize your battle rewards, the SPS Delegation was a must in order to facilitate accounts without any staked SPS to be able to get some juice in the game. I see this very important for players having alts (probably we all have that in a portion or another), which instead of unstacking SPS and moving it around, they can simply Delegate SPS based on their needs.
A new market is borne and now players have a new way of earning if they’ve gathered a surplus of SPS for their own use. With this we will be able to rent the extra SPS and make that as a new revenue channel. The only thing that I am wondering here is if you will be able to rent Liquid or Staked SPS or both. Also, by renting your SPS, who will earn the staked interest – the renter or the rentier? We shall see that when such a market will open up.
I am sure that from above use cases, new ones will surface or existing ones will be optimized to rewards players with a stake in the game, but also encourage new onboardings. While it is hard to see it as it is coupled also with a bear market, I think that the SPS price is doomed to improve and this year we might see a move in the right direction. If the trend revers to a positive climb and coupled with a bear market turning bull, we might see the reborn of thriving tokenomics in Splinterlands. Until that happens we can only justle, play and enjoy this amazing game!
