A few weeks have passed since the launch of the SPS token and we can now look at some of the token dynamics, like staking, transfers to exchanges etc.
For those who don’t know, SPS is the in game governance token for the Splinterlands game. For more info about the SPS token check the whitepaper.
Here we will be looking at:
- SPS transferred to BSC
- SPS transferred to Hive Engine
- Top accounts that transferred out SPS
- SPS staked in game
- Top accounts that staked SPS
- SPS Price
The period that we will be looking at is July 26 till August 9, 2021.
This is a bit short period of time to make some conclusion but t might serve as a starting point where things might be heading.
SPS Transferred To BSC
First the amount of SPS that was transferred to BSC. This might serve as an indicator about players cashing out, as the transfers to exchanges, but it doesn’t need to be 100% accurate.
We can see that in the first days there are higher amounts of the token moved to BSC and then the trend is going down. In the first days there was more than 1M SPS moved per day, and in the last days this is between 200k to 400k.
SPS Transferred To Hive Engine
Here is the chart for the transfers to Hive Engine.
What is interesting that in the first days the amount of SPS transferred to Hive Engine is even higher then the BSC. This might be some team tokens allocation, liquidity pools etc. In the last days the amount of SPS transferred to Hive Engine is around a 300k per day.
Cumulative SPS Transferred Out
The chart for the cumulative amount of SPS transferred out of the game looks like this.
The orange bar is BSC and the pink one Hive. Almost 18M SPS was transferred out in the period above, with 9.7M to Hive Engine and 7.9M to BSC.
In the last days there is around 500k SPS transferred out of the game.
Top Accounts That Transferred Out SPS
Who is transferring out the most? Here is the chart.
The @spswhale is the number one account here (nice naming 😊), followed by @toni.point and the @sps.dao.
Staking
What about staking? Are players staking some SPS? Here is the chart.
Almost 30M SPS was staked in the period above. That is higher than the 18M transferred out of the game. In the last days on average there is just above 1M SPS staked per day in the game. Again, this metric is higher then the 500k that is being transferred out.
Top Accounts That Staked SPS
Who is staking the most?
The @blockgaming and the @spswhale accounts are on the top here with 4M each. Then we have a lot of proxy accounts.
SPS Price
At the end the price chart.
These are average daily prices.
SPS has spiked in the first few days to more than 0.7$, and now its around the 0.3$ where it seems to find a short term bottom. Where will things go from here it remains to be seen, still very early days.
Splinterlands is having an amazing time and the in game token reflects that. In these early days, more of the token is being staked in game, then transferred out to exchanges.
P.S. Added this chart for easy comparison Staked VS Transferred out
All the best
@dalz