Despite loving Splinterlands and the SPS tokens, sometime it is hard to just blindly kept staking it and never tried to value out of it. Especially now it is at such a high print rate, the price is inevitable dropping non stop for quite a long period. I still remember when I actually spent like $5000 to buy close to 50k of SPS at the price rate of $0.10-$0.11 while now it is just worth like $0.025. However, I still felt that there is chance for SPS to gain in value after 3-4years time when those higher print rate rewards/programs are over.
Start of 2023
I remember i started off the start of the year with about 212k SPS and I withdrew like 12.5k of SPS and the staked SPS dropped to below 200k SPS. I cant really remember what I am trying to do with the liquid SPS but I think I am using it to buy Riftwatcher packs.
As you can see above, I one shot withdraw about 12.5k of SPS. The part that i can still clearly remember is that I only aim to withdraw 12.5k SPS but I lazy to wait for 4 weeks so I instead request to withdraw 50k staked SPS. In this way, I can get 12.5k within a week. So after that I need to cancel the remaining 37.5k of unstaking SPS.
liquid SPS spending
So far, I have purchased like 685 riftwatchers pack from the SL stores directly. It was done in 2 separated purchases. The 1st one is 500 with 75 bonus packs and then the later one is 100 with 10 bonus packs, making the total 685 packs.
Unstaking of SPS round 2
At around feb, I start to unstake another round of SPS. I unstake about 7.6k SPS as my staked SPS had grew from 200k SPS in start of Jan to 208k SPS in Feb. So i plan to unstake back to 200k SPS. But if you look carefully at the transaction, each week I am unstaking about 1.9k of SPS, my balance is actually increasing despite the unstaked SPS. With the start of month in Feb, my staked SPS actually grew from 208k to 213k SPS even after unstaking 7.6k SPS. The reason for my unstaking of 7.6k SPS is to fund for the 2nd round of riftwatcher purchase from the shop, the one that is purchasing another 100 packs. I remember that time need like 12-15k SPS to purchase the 100 packs. Eventually I have to find other ways to fund for the difference as the requirement for the number of sps kept increasing throughout the month.
Result from the riftwatcher purchases
Beside the 685 riftwatcher packs, I also purchase like close to 1.1k riftwatcher packs from hive engine(secondary market) as that time each pack cost as low as $3.50(cant remember the exact value). With a total of close to 1.8k riftwatcher packs open, this is the result.
Basically, I can almost get a complete max level riftwatcher deck. I even got some goldfoil cards that I could rent out to earn passive DEC income since I cant be using them due to non max level. I got like 6 gold foil legendary which is quite average for 1 gfl per 300 packs. And I remember that I spend like $100-200 just to buy potions for this packs opening. Overall, I am very happy to have a complete riftwatcher set now.
Progress till end of Apr
After that, I have been diligently trying to stake all the SPS including those liquid SPS. Given that in Feb, i could gain 8k SPS after unstaking 7.8k SPS, meaning I could gain up to 15k SPS per month. With that being said, this is currently my staked SPS!!
Just within 2 months, I managed to rise the staked SPS to 250k!!!! This is half way to my target goal of 300k! I actually still have 2 more months for month of May and June to reach the midway of the year so it seemed like 300k is quite an achievable task.
Temptation!
However, the temptation to withdraw the staked SPS is really there, given how expensive things are in Splinterlands. The recent Zyriel need like 40k DEC + 160 vouchers per BCX which is a super killer price. My Vrux is still lv 9 and need to buy another 100 more bcx to max it. I still also have to buy a few more bcx of ancient redwood to max it. I also eyeing on getting a waka if the price does not shoot up as I am saving it. Luckily I purchase Lux Vegas when it was around $500+++ as one of my top priority at that time. Lux Vega is just that good, basically it can be considered OP to the extend that some people just use lux vega by default for all the colors. And needless to say that as now there are lesser bots available, the rental market had taken a huge hit and my passive income was less than 50% of what was a month ago. So there was always this urge to withdraw some SPS to fund for more Splinterlands purchase. I will be keeping a close tab on my SPS staking journey, hoping that I can hit my 300k target in this year.