Just days ago I gave you three good reasons as to why you should be staking your SPS tokens. Those reasons were (1) Airdrop: Voucher tokens (2) Airdrop: GLX Tokens (3) Power (SPS governance vote). To read more details about those three reasons click the following link: Three Reasons Why You Should Stake Your SPS Tokens. If those reasons weren't enough to entice you to start staking your SPS I'm back to tell you all three more reasons why you should be staking your SPS Tokens.
Airdrop
Yes another airdrop or better put a continuation of one that has been ongoing for sometime. What token is it this time? It isn't the Voucher airdrop we already went over that in our first installment of reasons why you should be staking your SPS. It isn't the GLX airdrop for the new Genesis League game as we also already went over that in our first installment of why you should be staking your SPS tokens. (Readers; "Alright RentMoney, hurry up and spill the beans what is the other free token we get for staking SPS?"). Alright lets cut right to the chase. Staking your SPS will allow you to earn more SPS. (Readers:" How is that the SPS airdrop has ended"). While that is true if we take a look at the SPS whitepaper we will see that there was a portion of SPS that was to be airdropped based on a specific formula that hasn't been implemented in game play yet. What is currently happening is the SPS that was to and eventually will get distributed using the below formula is now (for the time being) getting dropped to us based on our SPS stake.
Ranked Battles
(White Paper Quote)
Staked SPS tokens can (but are not required to) be staked on a particular player which will allow both the SPS holder and the player to earn rewards based on the player's performance. SPS holders may stake their SPS on themselves and/or other players and they may spread their stake among any number of different players that they choose. Players may also choose to limit the players who may stake SPS on them to their guild members, a specific list of accounts, or leave it open for anyone to stake SPS tokens on them. Additionally, staked SPS tokens can be added and removed from players at any time without any time limits or restrictions. Both the Ranked Battles pool and the SPS Staking Rewards pool will work similarly to how the DEC rewards for ranked battles work currently. After every ranked battle, a number of "reward shares" will be calculated for the winner based on the winner's ranked ladder rating, their Energy Capture Rate (ECR), and any modifiers such as the use of gold cards, win streak, and guild or other bonuses. Then the reward shares value will be adjusted based on the amount of SPS tokens staked on that player in total. Read More Here: https://sps.splinterlands.com/rewards/ranked-battles
Increases USD Value
Its no secret that a good general rule of thumb is the less of something available the more valuable it can potentially be. Staking our SPS tokens locks them up for a period of up to four weeks (longer if we don't unstake). For each SPS that is staked that is one less SPS that is liquid. Only liquid SPS can be traded on the open markets. The opposite is also true; staked SPS can not be traded on the open markets. The only way to sell staked SPS is to sell ones full account with the staked SPS in it by the means of a private sale. While staking SPS doesn't decrease SPS total volume it does take liquid SPS out of the market scene which helps remove selling pressure.
Annual Percentage Rate
Currently the returns for staking our SPS Tokens is displayed as 29.01% APR on the official Splinterlands site. What does this mean? Annual Percentage Rate (APR) is the annual gains you would receive for staking your SPS. If you think 29% APR is a nice kickback for staking than I have some real good news for you. Our earned APR is even juicier than currently displayed on the Splinterlands website. This is because at current time Splinterlands calculates the displayed annual APR gains for staking SPS using the value of the ongoing Voucher and SPS airdrops. What is not being included in the calculated APR is the airdrop token GLX. Currently there isn't a market to sell GLX even though we are getting airdropped them. I, nor can anyone else tell you what the value of GLX tokens will be but it will certainly add some degree of value to the overall APR percentage we currently get for staked SPS tokens.
