Welcome to the final post in our series unofficially named Reasons Why You Should Stake Your SPS. You can visit the first post in the series by clicking the following link: Three Reasons Why You Should Stake Your SPS Tokens. You can visit the second post in the series by clicking this link: Three More Reasons Why You Should Stake Your SPS. Before I tell you the Ultimate reason as to why you should be staking your SPS tokens I'll quote the six reasons already given below.
Reasons Why You Should
Stake Your SPS Tokens
(1) GLX token
- Stake SPS to get airdropped GLX tokens
(2) Vouchers
- Stake SPS to get airdropped Voucher tokens
(3) SPS Governance Votes
- Stake SPS and have say in the direction Splinterlands is headed
(4) More SPS
- Those who stake SPS currently get an SPS airdrop
(5) Increased USD Value
- Helps decrease selling pressure which helps the tokens USD value
(6) Annual Percentage Rate
- Earn annual ROA due to airdrops given to stakers
For a more detail explanation of the above six reasons as to why you should be staking your SPS tokens visit post one and post two. Now if all that hasn't convinced you as to why you should be staking your SPS tokens just maybe the ULTIMATE reason will.
(7) Security
That's right, SECURITY. In cryptocurrency land we as individuals are responsible for our wallet passwords (keys) in which we use to hold our currency. We don't have tellers or otherwise who keep our passwords stored away for us. The routinely repeated phrase rings true always, "Not Your Keys, Not Your Cryptocurrency". The brick and mortar world is centralized and if someone was to lose their bank card or if ones bank card were to get stolen we would need to enter the bank and provide some personal details to get a new bank card. There are many downsides to this such as needing to wait for the bank to open before putting things in motion (Yuck) and giving away your personal details (Double Yuck). Once done you have a brand new bank card and hopefully access to your funds. If your keys get compromised in Cryptocurrency Land you can easily have your funds drained. There are some fail safe's in place to help stop such a thing from happening. One of them is staking our tokens. For example the SPS token has a four week unstake feature. Which means once you start the unstake process it will take four weeks before all of your staked SPS gets unstaked. This provides SPS stakers with the added security that gives us four weeks to recover and change our Keys (passwords) before our wallet gets drained of our funds due to compromised keys (passwords). There you have it, Seven reasons as to why you should be staking your SPS tokens. Can you think of more? If so lets here them in the comment section below.
What is Splinterlands
Splinterlands is a blockchain game built on the Hive Network. The game itself utilizes NFT's for game play. These NFT's can be won in battle and/or purchased from the official Splinterlands marketplace or many other secondary markets. Game play rewards players with cryptocurrency and in game assets. Click here to get started with Splinterlands.
