Splinterlands DEC LP Provider - Was It Worth It?

in Splinterlands2 months ago

Hey Splinterlands Fans

So the land pre-sale has come and gone and there's still about 60k plots left, if you didn't buy in the pre-sale, you could have at least doubled your money just by purchasing at the reduced rate.

If you wanted a little extra, you could become a LP provider on uni swap for DEC which is the option I took. I didn't think much of it, but I thought I'd give it a go since it gave me an excuse to mess around with UNI.

I recently saw @miniminings summary here so I thought I'd check out my returns and give it a go too.

land-LP.png

Investment:

On the 03 Oct 2020, I decided to jump into the Uniswap pool as a liquidity provider and score myself some Land Tokens for the upcoming pre-sale. I am not that nuts about investing in a game so I didn't risk too much capital

  • ETH added to UNI - 0.146327702406678474 @ $345.91 - $57
  • DEC added to UNI - 64,800 @ $0.00088 - $57

Transaction details here

Return:

It's now the 05 January so a little over 3 months in the pool and the pre-sale has finally come to an end dishing out its final rewards for the promotional period. The rewards will still continue for LP providers going forward which I intend to collect since I don't see the point in removing such a small amount of liquidity

So what was my final haul like?

  • 4 Plots @ $20 each - $80
  • 70 Raffle Ticket Tokens @ $0.319 (According to Hive Engine) - $22.33
  • Uniswap ETH: 0.0924994 @$1,043.26 - $96.50
  • Uniswap DEC: 10 4063 @ $0.00088 - $91.57

Total return: $290.40

I'd say I spent around $15 on fees and conversion from Fiat to ETH, to picking up DEC and setting the entire thing up, so I'll add that to my $114 and make it around $129 invested in this trade.

That's a return of $161.40 in a 3 month period or a %125 ROI for the period,

If we take that over a year it would work out to around a %500 APY.

Pretty nuts if you think about it, knowing this, we always think ah I was too conservative and I should have invested more, we all have that kick in the butt from hindsight but overall I think it was a pretty good decision.

Granted my returns were boosted by the insane run ETH is on at the moment, but still, numbers are numbers, they don't lie!

What were your returns like?

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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A return of $161.40 in 3 month is good I don't know why gamers all over the world still neglect the opportunity to play splinterland, the opportunity is there to become one of the best out there. I mean I don't play but what better opportunity to play strategist and semi-investor. Cheers!

Posted Using LeoFinance Beta

Games on HIVE really have a lot to offer.

Posted Using LeoFinance Beta

I think with all games, it takes a while for it to catch on, and the fact that it's on blockchain still intimidates people. Until it moves to a simple mobile app you can just play like those clash of clans and those kinda games, it won't take off with the mainstream, they like it spoon fed to them

There is already an app of Splinterlands for mobile in the PlayStore.

I’m an iOS user so to me there is no app lol

Well its not like people will play app games forever, in the near future, people would need to adapt to playing games on blockchain because it signals growth of a sort, people weren't playing app games back in the days, it was Gameboy and the rest on traditional CD's and all.

Posted Using LeoFinance Beta

Exactly you are illustrating the transition there’s a history a path for people to follow! In traditional gaming your payment rail on ramps are easy you can use Apple Pay and google pay

In these games it’s buying Bitcoin sending it to an exchange swapping it out for the in game currency I mean who wants to do that shit?

Until the payment rails are as easy as tap tap tap and people are comfortable with it these games still face a big educational drive

I did not know about this but would like to try in the future
This looks promising so far from you data 😀👍

That's a great return!

Posted Using LeoFinance Beta

Indeed, I like that in crypto you can do microtrades of a few dollars and still make amazing returns

While I didn't yet navigate the DeFi Liquidity Pools, I see that the Splinterlands pool is one that pays back pretty good. And considering the stability of the game and the continuing improvements I think that the risk is quite low. Great return and nice to see good things happening over the Hive blockchain games and apps!

Posted Using LeoFinance Beta

I thought the same thing, if it was just the LP rewards it wouldn't as big a return but because they added additional incentives it helped in getting a bigger payout.

I am keen to see the daily returns on the LP pool now since all LP providers will be getting DEC for providing liquidity which only pushes the returns higher