A few days back I posted about my plans on staking more SPS and had a lot of responses advising me that direct staking SPS is the best route to accumulating most SPS. Whether its the right thing or not I have followed through and am currently crossed over 42k SPS staked.
What happened was I took my entire liquidity pool assets into staked SPS and here is where I stand. My goal is to get to 50k SPS staked and with 8k remaining to target I think it is very achievable.
Another reason why I wanted to staked SPS now rather than later was the drop in APR yield. This may seem counterintuitive but I personally believe the amount of SPS staked has risen which is lowering the overall APR yield.
More than half of the entire amount of SPS that has to date been in circulation is currently staked. Very few are in circulation. This is proven data that the amount of SPS supply is dwindling and players are positioning themselves for the upcoming CP to SPS staked rank battles. I do not want to be leave it to the last minute to try and accumulate the remaining SPS where I can get to 50k staked.
Even with SPS dropping to near all time lows I have a feeling that in time the demand for the token due to new updates will turn around the demand of SPS. I hope then it will increase the price of SPS.
Until next time thanks for reading!!!
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