We saw DEC get to 93 cents per 1000 DEC 8 days ago just before the FTX bomb went off and dragged everything down with it. Hive was the first one to go down, SPS and DEC started suffering right after since there are huge liquidity pools pairing both assets with Hive. I believe this was the main factor for the price drop since nothing else changed and players were quite happy about the upcoming Lux Vega sale and the introduction of SPS rewards for brawls. Meaning players had no incentive to dump it.
Our two main pumping mechanisms worked quite well if you look at the DEC to BTC graph but because the market went up into flames that didn't translate into a repeg in dollar terms. Now we're seeing DEC going right back to the values it was at before the big pumping/burning mechanisms. There's not much to look forward to now, no other big event on the horizon. We will see some extra burning now that guilds have an incentive to upgrade their buildings faster but most of them already made the big push just before the introduction of SPS rewards for brawls.
There are very few ways to create more DEC so we will just keep on burning it slowly day by day until we reach the peg once again. I don't know how long it will take and I would like to see the team make some more efforts to accelerate the burning. One thing that would have a huge impact would be burning part of the market fees.
Giveaway
⚔️ The rules:
- Minimum Reputation of 50
- Only one comment per person
- Upvote / Follow or Re-post is not mandatory but it is greatly appreciated.
- You just have to comment. If you use a different username on Splinterlands please mention the account where you want to receive the cards.
The winner will be picked by a randomizer and will be announced on next week's giveaway post.
⚔️ Cards for this week:
Cards will rotate splinter every week, Fire -> Water -> Earth -> Life -> Death -> Dragon -> Neutral. This week if you win you will receive one SILENT SHA-VI!
⚔️ Last week's winner:
I'm currently using this tool to randomly pick one comment to win the giveaway.
