Delegation of SPS is Here - My experience with SPS Delegation...
Hey All,
Finally we have another use case for the governance token of the game Splinterlands which is Splintershards aka SPS is Here. With the recent announcement from the @splinterlands team around - SPS Staking Multiplier for ranked battle rewards & SPS delegation to go LIVE on - Thursday, July 6th, 2023 has made its way out and folks have started delegating their spare SPS to earn rewards in the for of DEC; which is another in game token for the game. The more SPS the players have staked the more rewards they will get as the reward multiplier kicks in based on your SPS staked. Let us first look how you can reach out to the SPS delegation page and start acting accordingly..
SPS Dashboard - SPS Delegation...
At first you will need to click on the Manage button the SPS dashboard Here and this will lead you to the page where you can deal with the various options like SPS delegation market, Outgoing and Incoming SPS etc. A important point to note here is that the SPS is being delegated for 7 days and once the time lapses then a person who has delegated their SPS will need to cancel the delegation. At the moment players who are in need o SPS can only submit bids with the DEC they are willing to pay and the best part is that the rental for SPS delegation needs to be paid upfront for 7 days at the price they specified. Now we move onto the SPS market delegation page which you can reach by clicking Here and the User interface looks something like this::
SPS Delegation Market
Since I wanted to try out the SPS delegation and see how things work and at the same time earn some DEC for the spare SPS that I had, I decided to delegate some of my SPS. Here is one of the order bid that I accepted at a rate of 0.009 DEC per SPS delegated. As seen from the following image, I delegated 757 SPS and got 44.829 DEC excluding the market and burn fee.
Its good to see we further have burn for the DEC token and this should further help in bringing the DEC price back to its pegged dollar value. Overall, I accepted there bids and delegated around 2.3K+ SPS and this got me a decent amount of DEC.
The last piece of the puzzle if you have delegated some of your SPS then you can see the same on the Outgoing SPS page - Here. In my case you can see from the above image that I have delegated to three players who are:: L0N19, VHIIN13 and L0N95. Total outgoing SPS account to 2,380 SPS & at the moment available SPS for delegation is Available : 250,179.189 SPS. If I wish to delegate more I can do the same by clicking the delegate button and it will lead me to the SPS market delegation page from where I can accept bids again. Also I guess the delegation of SPS does not impact your staked SPS rewards that remains the same. You still get those staked SPS rewards for the delegated SPS so that is cherry on top and an another source of passive income stream that one can generate by HODLing & Staking SPS...
Overall, I had a good experience using the SPS delegation system. Everything went smoothly with no hiccups, great UI and UX experience simple and easy to transition which all users want so I must say that the Splinterlands team has done a great job here in bringing the SPS delegation system in the game.. Looking forward to further leverage the SPS delegation system. Right now the bids for SPS delegation are not that great and will wait to see if the demand for SPS delegation further increases then automatically the DEC associated to it will also need to increase if one really needs the delegation of SPS to happen... cheers
Delegation of SPS is Here - My experience with SPS Delegation...
#sps #stake #delegation #borrow #lengine #splinterlands #rewards #dec #burn
Delegation of SPS is Here - My experience with SPS Delegation...
Did you delegate your spare SPS? Delegate Vs Borrow - what is your plan for SPS here? Are you mad over SPS? What is your strategy for SPS? Are you buying the Dip? Continue to Stake or plan to exit? Let me know in the comment section below...
Image Courtesy:: splinterlands, procanva licence version
Best Regards
This post has been manually curated by @alokkumar121 from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @alokkumar121 by upvoting this comment and support the community by voting the posts made by @indiaunited..
This post received an extra 10.00% vote for delegating HP / holding IUC tokens.
Did you calculate the APR for delegating your SPS? Is it above the ~10% you get for staking it?
ow nice! thanks for bringing this to the attention because sps aint bringing me much at the moment.! Ad we all love some juicy dec. especially since the proposal to need dec for land is getting towards the good side
I didn't even know that SPS tokens could be delegated to someone else. Thanks for the information. !LUV
@gungunkrishu, @stefano.massari(3/5) sent you LUV. | discord | community | HiveWiki | NFT | <>< daily
! help(no space) to get help on Hive. InfoI have around 40k SPS. I rented 60k. The process was straightforward. It would be better if we could see the bids before creating ours. The price of the delegation was 0,008 DEC per SPS per day yesterday. Now, the price is 0,006 DEC per SPS. Yearly SPS delegation ROI is around %10.
Congratulations @gungunkrishu! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 28000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Check out our last posts:
why did you shared this on battle mage secret challenge ??
Yes. For not selling it, while it was worth around $0.90 USD. Nowadays it is worth only around $0.019 USD.
Sometimes. And I also sell the daily few cents income from the liquidity positions on Tribaldex.
Something in-between. I keep my stake, and I keep my liquidity positions too. It gives only a few cents per day, but still more than nothing. If the price of the SPS would go back up, then I would be willing to sell around 994 SPS, which is currently in my SWAP.HIVE:SPS liquidity position. Currently this is the 0.005% of the shares.
Thanks for sharing! - @alokkumar121
