To my surprise the last few days the Splinterlands governance token price has been dropping a bit. Maybe it's people cashing in that extra 10% discount on buying packs so instead of paying $4 they are only paying $3.60 per pack? It seems counterproductive to me being that you could stake it and earn WAY more than 10% but that's just me.
In this article I'm going to go over everything you can do with the SPS token and why for myself I'm stacking and even buying more when the prices are right.
By using SPS instead of DEC, Credits or another crypto you can save 10% on your purchases. At the time of writing this that means with 1 vouchers you can buy a $4 per-launch chaos pack for $3.60 saving yourself 10%.
While this might sound great I think it's important to note that by selling your SPS you're shooting yourself in the foot in my opinion. You're lessoning your Voucher drop, You're not getting a current 59% stake APR on those SPS tokens or putting them to work on a defi platform. We will jump into those here soon.
By holding staked SPS against all other players you are getting your share of Voucher drops which as the moment are trading for $19. While many say this is crazy I know the gaming community is crazy lol if not the crypto world and demand for these things are HIGH not only from gamers but you also have to factor in investors. People that have loads of crypto just laying around waiting to be invested into a project they thing will make them profit. This is why I still suspect prices to climb as the bonus reward cards are going to be sought after by people after the drop is done so they can max out their card. That's not all though you also get airdrops of 12 other cards so it's like the investment that keeps giving NFTs all through the Chaos launch.
At the point of writing this currently the APR for SPS is 59% this will keep falling as more and more tokens are staked and the SPS spreads around to more people and more SPS is dropped from ranked battles, brawls etc (soon to come waiting on the whitepaper update)
59% is a solid number and is what you see in many DeFi applications. While this high APR wont always be the case it's still a passive way to start building your stake in SPS and after the airdrop is complete I foresee this being one of the main ways to build SPS.
