Hey All,
Its getting interesting to delegate your extra $SPS token to generate a regular passive income. Incase you are not aware - what SPS token is all about - then here is a brief information associated to it. Splintershards aka SPS is the governance token of the game Splinterlands. There are many utilities tied to this governance token - one of the best one that I like is to stake Splintershards to earn greater rewards and perks for holding the token within Splinterlands game that curently is giving out an APR of above 16% at the moment. For that reason, I have been staking all my SPS and have built a stake of 257K+ $SPS staked and building until it crosses the 300K+ mark - no stopping until then no matter what...
My Current $SPS Stake - 257K+ Compounding
Yes, this is my current stake in $SPS and from the very first day have been staking all the SPS that I had received via the Airdrop and other sources like buying, holding in game assets, swapping tokens for $SPS etc etc.. During all this time, I have changed my $SPS GOAL three time - stated with a GOAL with having 50K+ SPS first and then finally moved to now having 300K+ SPS and currently am striving for this target to be achieved by the end of this year; 2023 - which I am very optimistic that I should be able achieve it very smoothly considering how the things are currently moving for me where on an average I am staking 350+ $SPS daily and redirecting some of it in the staking pools like DEC - SPS and PKM - SPS.
Ok lets now dive into my second round of #SPS delegation and my plans ahead for it..
SPS Delegation Round 2 - Plan Ahead..
At first I want to clarify here that delegating #sps doesn't loose on your staking rewards. Earlier in one of my post I was of the opinion that delegation of #sps could lead loosing on staking rewards. But whereas that is NOT the case - users, players who delegate #sps doesn't loose on their staking rewards they remain as is i.e. they get the APR above 16% along with they get the $DEC aka Dark Energy Crystals which is another in-game currency of Splinterlands for delegating the #sps. The other point to note here is that when you undelegate the #SPS after 7 days which is the minimum period of delegation at that point in time the removed #sps from delegation is made available immediately at your dispersal for further renting or selling as the need be.
In my Second Round of #sps delegation I have delegated 148K+ #SPS and this time I leveraged the peakmonsters portal for it. The average APR that I got for this delegation is above 10% and all the #DEC along with my rental proceeds I still HODL in my wallet. Where currently I have close to 20K+ $DEC and I plan to move the #DEC to the SPS-DEC staking pool. Will I delegate more as I still have close to 100K+ #SPS available? Straight answer is Yes, I do look forward to further delegating #sps and once the second round of SPS delegation ends - I'll renew it as well for $0.009 $DEC per SPS that is the plan for now.
Overall my experience with delegating #SPS has been great. It has generated another passive income stream for users who HODL the $SPS. It would be great to see the delegation price increase a bit from here and more demand for #sps is created and we see #sps moon as well. Its been a long while that we didn't see $SPS making that big strides in the price movements; long time awaiting here. Looking forward to further leveraging the SPS delegation system here and take advantage of all the passive income streams that one can generate by just HOLDING #HODL #SPS or by #delegating #SPS as well... cheers
My experience with SPS Delegation - Second Round - Plan for SPS Delegation......
#sps #stake #delegation #borrow #lengine #splinterlands #rewards #dec #burn
Have Your Say on SPS Delegation Experience & Plan Ahead...
Did you delegate your spare SPS? Delegate Vs Borrow - what is your plan for SPS here? Are you mad over SPS? What is your strategy for SPS? Are you buying the Dip? Continue to Stake or plan to exit? Let me know in the comment section below...
Image Courtesy:: splinterlands, procanva licence version, peakmonsters
Best Regards