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Update in pricing algorithm
We are happy to announce that we implemented the first version of our updated pricing algorithm.
This updated pricing algorithm provides us with a big improvement regarding the balance between getting the highest price for your card and the idle time.
You can expect that your cards will be listed for a while longer with a higher price, as this will result in a higher rental income overall (more on the results later in this post).
In general, a longer idle time would result in more price updates and therefore more Resource Credits being used.
However, we have optimized the Resource Credits spent during this idle time.
First version of the RC algorithm
In addition to the update in the pricing algorithm, we have also implemented the first version of a new RC algorithm.
The new RC algorithm can prioritize which cards should be updated when your RC is low.
This means that fewer cards will be updated while you are low on RC so that it can regenerate.
On the other hand, if your RC is high your cards will be updated as much as possible to make optimal use of your RC.
Summed up, the amount of RC spent depens on your current RC of your hive account.
We would always advise to have enough RC (HP) to optimize your rental income.
results
We have been doing some comparisons to measure our performance against Splex.
These comparisons started just before the previous season started, and will keep running.
This way, you can always check yourself at any given time what the results are.
For our comparision we have created 2 identical accounts named "minichaos" and "squirtle33".
Squirtle33 is managed by SplinterRents while minichaos is managed by Splex.
Fees for using the services are not paid from those accounts, so the DEC balance is purely the rental income.
Somewhere in the beginning of each season, the account will be emptied for a fresh start.
You can check the current balance via the Splinterlands API:
Squirtle33
Minichaos
performance last season (before pricing update)
In the last season, both accounts started renting out cards on the 30th of June.
Both accounts used the default settings.
Squirtle33 (SplinterRents) had a total income of 15036 DEC and a fee of 752 DEC (5%), resulting in a net income of 14282 DEC
At the same time, minichaos (Splex) had a total income of 16192 DEC and a fee of 3238 DEC (20%), resulting in a net income of 12954
meaning that squirtle33 had a 10% better performance last season.
After emptying the account, both accounts have been deactivated while the new pricing was implemented.
performance so far with the new pricing
On the 16th of July, both accounts started renting out their cards again.
From this moment forwards, squirtle33 used the updated pricing algorithm.
We are pleased to share that until the 23rd of July 23:59:59, squirtle33 has had a total income of 9347 DEC.
With a 5% fee (467 DEC) this means a net income of 8879 DEC
In the meantime, minichaos has had a totel income of 8834 DEC.
with the updated 10 % fee (883 DEC), minichaos has a net income of 7951 DEC
This means that squirtle33 (SplinterRents) has a 11,5% higher net income!
Despite the fee reduction Splex commited at the beginning of this season, we are still generating more profit with squirtle33.
Compared to the previous pricing algorithm within SplinterRents, we see an increase of 11,5%.
We are very excited about these results and hope you are as well.
Nevertheless, we are already testing the algorithm for futher price improvements.
Also want to start generating rental income without effort?
If you have some Splinterlands cards in your account that are doing nothing, come and join our Discord to get you started!
