The Splinterlands team is extremely excited to announce that the Splintershards (SPS) token is scheduled to launch on Monday, July 26th, 2021 at 12:00 ET / 16:00 UTC!
At that time, an SPS-BNB liquidity pool will be created on the PancakeSwap platform that runs on Binance Smart Chain (BSC) and will be seeded with a significant amount of liquidity to allow users to begin trading against. The SPS tokens added as liquidity will come from the DAO foundation funds and the BNB tokens will come from the proceeds of the private token sale.
Additionally, a SWAP.HIVE:SPS diesel pool will be created on Hive Engine (https://tribaldex.com/dieselpools/pools) with liquidity added from the same sources for anyone who would like to trade SPS against HIVE.
The Splinterlands website will also be updated ahead of the token launch to include players' SPS token balance in the top HUD and the new SPS Management page which can be accessed by clicking on the SPS token balance. The SPS Management page will be the main dashboard within the Splinterlands website for players to view and manage everything about their SPS tokens.
Once the token is launched and the SPS Management page is released to the Splinterlands website, SPS tokens will be able to be staked, transferred to other Splinterlands accounts, and transferred between users' Splinterlands game accounts and their BSC wallet (via the same bridge mechanism currently available for transferring DEC tokens).
Please stay tuned for additional exchange listing announcements and launch promotions as we get closer to the release date!
The Splinterlands team is also excited to announce that the 365-day SPS token airdrop event will begin on Tuesday, July 27th, at 12:00 ET / 16:00 UTC, one day after the SPS token launch.
Every day for one year at approximately 12:00 ET / 16:00 UTC, a snapshot will be taken of all of the Splinterlands assets held across six different blockchain platforms (Hive, WAX, Ethereum, BSC, Steem, and Tron) in order to determine the amount of the total pool of 400M SPS airdrop tokens each wallet address is eligible to receive that day.
Airdrop tokens will be able to be claimed from all platforms through the SPS Management page on the Splinterlands website starting after the first snapshot on the date mentioned above. Please note that airdrop rewards will accrue to your account if they are not claimed, so it is not necessary to claim them every day.
For more details about the SPS airdrop, please see the Airdrop Section of the SPS Token Whitepaper.
SPS Reward Pools
There are seven different reward pools planned for the SPS token as described in the Play to Earn and Reward Pools section of the SPS Token Whitepaper.
One of the most interesting and innovative aspects of the SPS token is the play-to-earn mechanism for ranked battles that will distribute rewards from both the Staking and Ranked Battles reward pools. The Splinterlands team expects that feature to be completed and released sometime in Q3 of 2021, however, in the meantime we plan to launch a simplified version of those reward pools to start rewarding both active players and players who stake SPS tokens as soon as possible.
Starting on Monday, August 2nd, 2021, the Staking reward pool will be launched which will distribute new SPS tokens among everyone who has SPS tokens staked in their Splinterlands game account. The Staking rewards pool will start at 7.5M SPS tokens per month, or approximately 250k SPS tokens per day that will go to SPS token stakers in proportion to their amount staked as a percentage of the total amount staked by all players.
Also, starting on Monday, August 2nd, 2021, the Ranked Battles reward pool will be launched allowing players to earn SPS tokens for winning Ranked battles. The Ranked Battles rewards pool will also start at 7.5M SPS tokens per month, or approximately 250k SPS tokens per day, and will be distributed in the same manner as DEC tokens are currently distributed for Ranked battle wins.
This means that for each Ranked battle win, a "reward shares" value will be calculated for the winner based on the square of their current rating and any additional modifiers from things like their Energy Capture Rate (ECR), win streak, guild bonuses, and the use of Gold Foil or Alpha/Promo Edition cards in the battle. This "reward shares" value will then be compared against the total amount of reward shares earned from all battles in the last 24 hours to determine the amount of SPS tokens received by the player from the SPS Ranked Battles reward pool.
Finally, the Tournament Prize SPS reward pool will also begin to be allocated to all Splinterlands-sponsored tournaments starting with the next set that are scheduled to be created in August. The Tournament Prize reward pool starts at 2.5M SPS tokens per month and will be added as prizes to the existing tournament schedule in addition to the standard DEC prizes for those tournaments.
The remaining reward pools (Guild Brawls, LP Incentives, Land Expansion, and Oracle Rewards) will be launched in the future as those features are completed. Please see the Release Schedule section of the SPS Token Whitepaper for estimated timing of those releases.
Benefits of Staking SPS Tokens
As described in the Staking & Earning Section of the SPS Token Whitepaper, Staked SPS tokens are not liquid and may not be transferred or sold. Staked SPS tokens may be unstaked over a period of four weeks, with 25% of the total amount of tokens being unstaked becoming available as liquid SPS tokens at the end of each of the four weeks from when the unstaking operation is submitted.
In order to encourage as many SPS token holders as possible to lock up their tokens via the staking mechanism, there will be numerous benefits for holders of staked SPS tokens in the game, with more to be released over time.
The primary benefit of staking SPS tokens is participating in the governance voting system which is expected to be released in Q4 of 2021. This will give players an unprecedented level of control and ownership over the parameters and overall direction of the Splinterlands game and ecosystem.
In addition to the governance voting, starting within a week of the SPS token launch players who stake SPS tokens will begin receiving a portion of the 7.5M SPS / month Staking reward pool as described above.
Finally, we also want to remind players that going forward nearly all offers and promotions that take place in Splinterlands will require SPS tokens to be staked in the player's account in order to participate, and/or to determine the maximum level at which they can participate. The first such promotion is planned to be the upcoming presale of the new Chaos Legion set of cards, which we expect will begin in September of this year.
The Chaos Legion presale is expected to offer a number of rewards for purchasers including one or more limited-edition promo cards and in-game titles, however the amount of presale packs each account will be able to purchase and the level of rewards they will be eligible to receive will be limited by the amount of SPS tokens staked in their account.
More details and specifics about the Chaos Legion presale including the SPS token staking requirements will be released as the event gets closer.
About Splintershards (SPS)
Splintershards (SPS) is a new cryptocurrency governance token which will be integrated into the Splinterlands game in order to provide increasing levels of decision-making ability and control over the product to the player-base, asset owners, and other stakeholders.
The SPS token was originally announced in this post: Announcing Splintershards (SPS) - The Splinterlands Governance Token and more details can be found in the SPS Token Whitepaper.
Stay tuned for more updates from the Splinterlands!
NOTE: All rewards from this post will be burned.