I'm not going to lie, when the SPS airdrop started coming through, I intended to dump a decent amount of the tokens I received. The tokens came through, and sure enough, I sold them off, especially when they were trading close to the $1 range.
For what it's worth, I sold at the time because I wanted to sort out certain issues in my life, and now that they've been sorted out, I've been stacking more.
Also, I obviously still believe in the SPlinterlands project, and I mean, why the hell not? It's been very profitable. However, I kind of thought the SPS tokens would be dumped harder than they've been dumped, so I was trying to squeeze out some profit.
In recent times, the token has settled at a healthy rate that's within $0.26-$0.34. If it actually continues at this rate, then staking will prove to have been a brilliant long-term decision.
Get more for more
I don't have the funds to buy SPS from the various exchanges, so for now, I'm just staking whatever I earn from the daily airdrop. Right now, I'm getting approximately 68 tokens per day, and they're all getting staked.
First of all, I'm printing more SPS that will cover all the SPS tokens I sold in the early days. Also, when my stake grows large enough, I'll be earning a pretty penny daily from my stake and could then diversify in the months ahead.
Stay tuned for Chaos Legion
Also, there's been talk about how staking SPS will be connected to the Chaos Legion packs that are coming.
The word is that the amount of SPS tokens you stake will determine the number of packs you can purchase or something like that. This will also be the token's first use case in the realm of governance.
Important points
- Staking of the token is done within the Desktop application
- You simply log in to your profile with your keys and then go to the SPS management portal to stake tokens
- Staking locks up your tokens and then you start mining more SPS with your SPS
- Unstaking takes 4 weeks to complete, with 25% of the amount you're unstaking being paid to you every week.
Make it count
So, if you're not staking SPS, I suggest you do so now. It's yet another way to earn from Splinterlands and will give you more opportunities within the game.
Get in the game when you can and let's grow together.
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