The Value of SPS: Staking for Rewards and Future Growth

Hello to Splinterlands and Hive Fam,

Hope life is treating you well wherever you are in this part of the world.

My Splinterlands Game account is - FinPulse9

Sps which is the governance coin of the game is a valuable part of this project. You hold more spears than you can earn some APR on the holding as well as as a player you are also given additional gaming reward. Reward is distributed in form of GLINT token which is like in game currency and it is good to have more. I am trying to have more SPS coin in my account and I have already purchased over 35K tokens from the marketplace. For that I used my USDT balance and I did buy from the exchange not in the internal marketplace.

So I think that having a good balance of SPS is a necessity and I know that there is a market for taking the balance on these also. There is rental market for cards along with SPS coins both but I believe I want to be more dependent on the rental market for cards only and not for the SPS tokens. There is a reason why I think like this. For SPS the current price is very low and if I invest on this coin now then I hope it will be more valuable later on. I am not an expert but I believe that token has better liquidity market as compared to the NFC cards and this is why it makes more sense to invest on the tokens first. I'm not saying that I will not invest on the cards but at this point of time I believe it makes more sense to invest money on SPS tokens first than the NFT cards.

So today for the first time I am going to try the internal market and I'll be using the keychain application for this swap. I have already used this function in the keychain app but never did it for SPS however today is the time and I'll be doing it for the SPS coin. After the purchase I'll be moving those tokens to the game account and powering it up. So this process of powering up is called staking and once it is done then the balance starts earning some reward which is called APR.

Now the sps token purchase is successful and I need to move these tokens to my game account from the marketplace. Basically all these tokens are deposited in the high engine wallet and that is where I need to move these tokens from to my game account. This balance is also reflecting on the game which you can see on the below snapshot.

It does not take long and within few clicks you can move the tokens from one place to another which I did but it is important that you learn the process first. It took me some time to understand this part first when I was trying it for the first time but now I am familiar. Finally the transaction is completed and the balance is reflecting on the game account.

Now I need to power up these tokens which is called a staking and it is a single click process that you can perform so I am going to do it with all the tokens I have and I have choose Max option provided on the page. Once it is done then balance will be updated with is taking and it will also increase my is taking reward.

This is the updated balance I have in my game account now which is more than 40,000 tokens and to be precise the count is 40823 which is like almost 41K SPS I have as of now. My goal is to have 100K SPS and I will try to do it in next few months. If market allows then I will be trying to grow it even more but again it is completely dependent on the market and ill be spending some money on the game which I can say I will be investing some money on the game on the tokens and also on the cards.

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I am investing money mostly on the token as of now which is S P S but at the same time I'm also spending money on the card's rental and also buy some cards time to time. I just hope that I am able to make the balance to a decent amount which is like 100K before the price increase happens. I dont know how things will be in the market but I am on it and I hope I should be able to achieve my goal on the game but obviously it is going to be a long term journey which cannot happen overnight for me and I will continue to stay focused on my goal and will continue to build through the accumulation. Let's hope for the best and I hope this investment of tokens is getting me good returns on the reward side as well as it turn out to be good and profitable investment in future.

Images source- splinterlands.com website and keychain app

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