My SPS Staking Update
A few days back I posted about my plans on staking more SPS and had a lot of responses advising me that direct staking SPS is the best route to accumulating most SPS. Whether its the right thing or not I have followed through and am currently crossed over 42k SPS staked.
What happened was I took my entire liquidity pool assets into staked SPS and here is where I stand. My goal is to get to 50k SPS staked and with 8k remaining to target I think it is very achievable.
Another reason why I wanted to staked SPS now rather than later was the drop in APR yield. This may seem counterintuitive but I personally believe the amount of SPS staked has risen which is lowering the overall APR yield.
More than half of the entire amount of SPS that has to date been in circulation is currently staked. Very few are in circulation. This is proven data that the amount of SPS supply is dwindling and players are positioning themselves for the upcoming CP to SPS staked rank battles. I do not want to be leave it to the last minute to try and accumulate the remaining SPS where I can get to 50k staked.
Even with SPS dropping to near all time lows I have a feeling that in time the demand for the token due to new updates will turn around the demand of SPS. I hope then it will increase the price of SPS.
Until next time thanks for reading!!!
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Great move here. Splinterlands always rewards first movers and this approach is the best way to get reed of unnecessary headaches when Cp to Sps is Finanlly her.
That is quite interesting but I think it makes sense. By staking the SPS, they are preparing for the new changes and I honestly wonder what will happen to all the bots when these changes take place. I also think it's better to gather up SPS now rather than waiting for after the changes take place. !WINE
!WINE
What are your thoughts about 18 % apr, are you satisfy with that?
Don't forget that staking SPS also gets you GLX airdrops which adds another 7% or so to the APR. You can choose to stake that GLX or sell for SPS to increase your holding. Best of luck!
Yes I sell my GLX for Hive and then to SPS often. Overtime GLX has drop in value by a lot so not getting as many SPS now as in the past. Yet on the same token since SPS prices have drop a lot still worth accumulating doing this exchange. !WINE !LOL
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