SPS on Base and Upcoming days!
It is no doubt that Splinterlands has come a long way since its inception! It had its ups and downs! Yet, it is still out in here and still marching forward to keep on its glory. With recent updates, the token of Splinterlands aka SPS has successfully been integrated into the chain of Base. Which is a huge accomplishment and so far one of the best achievements of Splinterlands till date. Although, it has come this far but it still has a long way to move forward. Lets explore what is happening in base chain at the moment for SPS and the base chain itself.
As of writing this post, according to Defillama, the TVL on base chain is about $5.07 Billion. Which is one of the most promising chain among the top chains which are available at the moment. To compare, BSC one of the most promising chain which currently holds almost $8 billion TVL, Base has done remarkable output in the recent times. Which is why, I do believe that Base does has a promising future in the defi ere in the upcoming years.
In terms of Volume in DEX of Base it surpasses a billion dollars in 24 hours. On the promising side of the chain Solana, the volume out there in the last 24 hours is close to 3.68 Billion dollars. Upon comparing to the chain of base this is indeed a great accomplishment. Which is why the popularity of Base among project owners and developers is getting bigger and bigger as days are passing by.
While, I am super excited about the upcoming days of Base for another reason. The rising chain of Base does not even has any native token. Which is why in the coming days, the team has also hinted that they are thinking of having a token for this chain. Which is why I along with others I am very much keen to get my hands on this token once it hits the market in the coming days! Till then may the chain of Base keep building and keep on attracting investors, projects and others towards its chain.
Why I am excited about SPS getting its own pool in the Base chain?
It has been quite some time for SPS getting its own pool in the chain of Base. With liquidity just below 200k worth of SPS and USDC in the pool. It is going to be a wild journey in the coming days for SPS.
Easy access to the token of SPS. While, the rising chain of Base is and will keep on attracting users from all across the globe. Which is why we are still early in terms of getting a name for us all in the base chain. Also, investors who are willing to buy SPS they sure will find the easiest and most convenient way to get their hands on SPS. I suppose the cheap fees of Base and the hype that it has created will sure attract a lot of users in its eco system.
While, like I said, I am excited about SPS getting a chance to get into the chain of Base but to be honest we have a lot of room to improve and with this much liquidity it will be quite difficult to grow like we have expected in the past. Yes, getting a chance to buy SPS from Coinbase is indeed a very big achievement for us all. Likewise, being on a DEX which has a promising future should also be a priority for us all. As most of the exciting features and volume lies in these so called DEX's. We can see what is happening out in here and those so called DEX's sure has the way to manipulate the data for us all. Which is why, raw data sure helps a generic user like me to see what is happening with a specific token like SPS. All hail to DEX and the technology behind it.
Now coming to talk about SPS getting its own pool in the base chain! We sure have a lot of improvements which can be made in the coming days. For starters the liquidity in the pool is just around $200k. Which is not a lot to be honest! Because the more liquidity we will have in the pool the less price impact we will have in the token for a token person who is willing to purchase of sell the token. So this is something which we can work upon. Which is why improving the amount in the pool is our priority. Which would give some more flexibility for those who are using the pool at the moment.
The second most important fact is the visibility. As of this moment upon searching SPS sometimes it does not show by default. Once the contract address is shared upon the token address search bar thus it comes to visibility. Well, this is probably because of the popularity of the token. I suppose it will slowly improve as the token gets popular along the way. As of this moment, one can access the pool via the contract address of SPS or via this link SPS:USDC pool.
Adding more liquidity in the pool will give some balance and not to forget the more swaps we get to see the more visibility we shall receive within the eco system of Base. paying a little extra will not hurt but I suppose there are not many who would choose this phase. Which is why getting more exposure is indeed something that we can do by the help of community.
While in a recent proposal of Splinterlands there is a proposal which states multiple facts of these liquidity pools in different chains (BSC, Base). Which is why some ideas were laid out and so far the community is making a move and seems like it is moving towards base chain improvements. Here is the proposal post in case you are looking for. Do check it out and do not forget to share your POV.
Lets see where it goes in the coming days!
Image Sources : defillama, Aerodrome, Splinterlands)*
Best regards
Rehan
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