Two days ago, I checked my Splinterlands and found out I was a few hundred thousand DEC richer. As you might imagine, I was ecstatic because I just knew that I'd just made a big score.
I checked and it was just as I thought, my level 3 Mimosa Nightshade was picked up from the market and it was a monumental windfall, for me at least.
I listed the card for $900 and after the 5% deduction fee, I found myself $855 richer. That entire sum was the fat stack of DEC in my wallet.
So what's next?
My first thought was to take out the money and plunder it on frivolities. However, I reconsidered that plan and started reinvesting the profit straight away.
First of all, the DEC itself is an investment, since it will dramatically increase my SPS Airdrop. So, holding it might not be a bad idea even.
Instead of holding, I decided to go with the liquidity pool strategy and add to the DEC/BUSD pool. Adding to this pool is going to be a recurring theme throughout this period.
Loftier target
Speaking of adding to a liquidity pool, my SPS Airdrop was almost 100 tokens. After plundering a decent amount of my sales of NFT in my deck, I've finally increased my SPS Airdrop.
My initial plan was to achieve at least 12000 SPS staked by the end of the airdrop. So, the plan was 1k SPS per month, but with this increase, I think I'll just tweak my target to 15k SPS staked by the end of the Airdrop.
At the current rate of SPS printing, and not to mention my staking reward, I believe 15k SPS staked will give me enough room to explore other ventures with my resources, while being involved in Splinterlands governance.
Staying focused
My eyes are constantly fixed on the price and my gut speaks to me. It's telling me to focus on increasing the number of SPS tokens in my possession because it will be very important in the near future.
DEC will now have to work in the background through LPs and other similar means to grow my SPS bag.
There's still so much to come and I'm keeping my fingers crossed. Also, is it too much to ask for $1 SPS tokens that?
Chaos Legion on my mind
Today is day 31 of the Irdrop and I'm pleased to say that I have a decent amount of SPS staked. However, I can't shake off the feeling that I just might not have staked enough for the next set of cards to be unveiled.
I'm very excited about the Chaos Legion set of cards because I know they'll be some really powerful monsters there. I know because the level of anticipation leading up to dropping the new pack is kind of huge.
When the packs arrive, I want to be strategically positioned to get as many as I can afford because if my hunch serves me right, those monsters are going to bang in the market, so getting in early might be profitable.
Rising deck value
Yesterday, while I was having breakfast, @mistakili called me up and was raving about the value of his splinterlands deck. It was such a relatable and fun moment for me because I've been raving about the same thing for weeks now.
My deck value seems to be constantly rising and this is regardless of how many monsters that I've sold along the way. On top of the $900 I pulled out from Mimosa Nightshade, I'd sold Byzantine kitty for $400(a huge loss) and then a couple of other monsters for tens of dollars.
Despite selling off nearly $2k worth of monsters, my deck value still seems to be rising. The main protagonist of this growth in value is my rare monsters(both normal and gold foils).
The last time I checked, my Rare monsters account for roughly 40% of my $17k deck value, while Legendary monsters only account for 15%. It's a matter of quantity over quality in this case.
Also, it is more difficult for me to take out profit from selling rare monsters without denting my battling capacity. Whereas, with legendary monsters that I've been selling, I'd been surviving just fine without them.
If the price of monsters continues rising like this, it'll get to a point when I'll just liquidate a certain portion of my deck and use the funds to improve my LP position that will improve my SPS airdropped tokens.
At the last airdrop, I received 92 SPS tokens between my BSC wallet and Hive wallet. I believe it is possible to sell some cards and then move funds around until my airdrop points make me eligible to earn 100 SPS.
In my previous post, I talked about how I'll leverage the DEC/BUSD pool to improve my earnings and I also talked about how I feel more comfortable with DEC in an LP than simply holding.
Going forward, especially as my deck value keeps rising, this will be the approach I'll use to improve my SPS earnings. I'll just send the funds raised from selling cards to BSC and then pool it on that farm.
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Woow really good work👍
That is good keep it up.
100Sps per day will be super cool. Youre doing well. Like how many dec do you earn per battle?
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I am quite impressed, 15K by the end of the year is a nice sum of SPS.
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The thing to keep in mind if you are adding to the Liquidity Pool for the main purposes of gaining SPS is that your DEC in the pool is not constant. If the DEC price increases you will end up with less DEC in the pool (and more BUSD), so your airdrop power will drop - you would have been better off holding the DEC. If the DEC price decreases you will end up with more DEC, your airdrop power will increase, and you will be better off in the LP, rather than holding the DEC. So putting your DEC in the LP is a bit of a hedge - if DEC goes up you have less airdrop power, but probably all your other assets will increase along with the DEC pool (and vice versa).
I learned this the hard way - I had a bunch of DEC in the pool when DEC was at its peg, and by the time the price run-up occurred I had roughly 1/3rd as many DEC as before (and so 1/3rd as much airdrop power). The value of my holdings in USD had roughly tripled. I would have been better off holding DEC (same airdrop power, value 7x), but that is easy to say in retrospect. This is the "impermanent loss" issue.
That doesn't take into the account the CUB I earned through the LP, which is a nice boost.
Fair point. Personally, I think pooling in the cub is an all round better decision, especially if the investor plans to stick around for the long term.
Holding DEC might be better if you're solely focused on the sps airdrop but as you know, tunnel vision isn't safe in this industry. I think being flexible is very important and opening new ways to earn can help.
Also, if you put enough in the pool, you can just buy more DEC with your cub (it will affect your LP tokens) and still get more SPS from your assets.