Splintershards (SPS) Token Updates

in #splinterlands5 months ago (edited)

The 10th and final SPS private sale investor distribution was sent out yesterday, which means that going forward there will be 20M less SPS minted per month bringing the total monthly SPS mint amount down from 71,145,833 to 51,145,833.

Additionally, we want to remind everyone that there are currently less than 90 days left for the SPS airdrop at which point the newly minted SPS will drop by another 33.3M per month (~1.1M per day) bringing the new monthly total to only 17,812,500.

This reduction will be partially offset by the introduction of new reward pools expected to launch later this year for ranked battles, liquidity providers, guild brawls, and the SPS validator nodes, but in total those will only add 21.25M new SPS per month and will continually decrease by 1% per month over time.

On the demand side of the equation - we want to remind everyone that the validator node license sale is scheduled to begin in the next few weeks which is expected to burn huge amounts of SPS tokens over many years as well as the upcoming release of the Riftwatchers mini-edition (expected in Q3 2022) which is planned to ONLY be purchasable with SPS, all of which will go to the DAO to be managed by the token holders.

You can read more about the license sale here: Splintershards (SPS) Validator Node Overview & License Presale, and the Riftwatchers expansion plans here Splintershards (SPS) 2022 Roadmap.

Finally, we have also been focusing a significant amount of effort on making SPS easier to get - especially for those who aren't advanced crypto/defi users. A great first step in that direction was the recently announced availability of SPS in the crypto.com app, but on top of that we are also planning to release completely revamped SPS and DEC purchase screens on the Splinterlands website in the near future which should make it much easier for players to purchase these tokens using various different fiat and cryptocurrencies directly into their game accounts.

Updates to Prepare for SPS Validators

The team has also been making considerable progress on the SPS validator node software which is scheduled for release in Q4 of 2022. In order for all SPS-related transactions to be split out into the new validator node software, a couple of changes will be necessary which are described below.

Active Key Required for SPS Staking/Unstaking

On Tuesday, May 31st the following operations will require active authority to be considered valid:

  • stake_tokens
  • unstake_tokens
  • cancel_unstake_tokens

Players using the Splinterlands website will be prompted to sign the transaction with their active key once this change goes into effect just like all other operations which require active authority currently. Any tools or services that automatically submit these operations will need to update their code to sign the transaction with the active key before the change goes into effect or their operations will no longer be valid.

Please note that you do not have to wait until the change is rolled out to update your code - these operations will be considered valid if signed with the active key currently even though it is not required yet.

Giving Spellbooks to Accounts with SPS Tokens

There are a relatively small number of "temporary" accounts (non-Hive accounts like "acolyte_12345") that continue to hold SPS tokens (both liquid and staked) from before the change was made to require a valid Hive blockchain account to hold assets.

Once the SPS validator nodes are launched, it will no longer be possible for non-Hive blockchain accounts to hold SPS so in order to address this issue these accounts have all been given a free Summoner's Spellbook which will allow them to create a Hive blockchain wallet and migrate their assets there.

Anyone who owns one of these accounts will have 30 days to log into their account on the Splinterlands website at which point they will be prompted to create their Hive blockchain wallet and choose their account name. After the 30 days, any accounts that have not created a Hive wallet will have one automatically created for them to ensure that no tokens are lost.


Stay tuned for more updates from the Splinterlands!

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Thanks for making it easier to understand the token emission changes.
Why are you switching to active key for Staking? Any particular reason... doesn't make sense to me but maybe there has been some sort of abuse?

It's probably just for extra security :)

Tokens are still safely in the account. More effective would be notification system that messaged user if they had an unstaking done that they didn't know about. If someone was unstaking in order to later steal they would need active to transfer out anyway. So I don't understand the idea behind this unless they want to limit those who compound their staking automatically ... Maybe wanting to make less draw on their API or something?

All sounds great! keep up the fantastic work.

Got to snatch all the SPS I can get while it comes easier :D

I'm super excited for things coming in May.

Noted nice to see a redistribution of SPS supply as per the whitepaper :)
Keep up the good work it sometimes seems like a thankless job but its appreciated.

Looking good splinterlands, sps going be on 🔥!

Big reductions in emissions with a increasing use case and a locked up DOA till 4-5 years from now (I believe) means some seriously bullish times from SPS Q3 and beyond!

Норм тема, надеюсьв РФ к этому времени не заблокируют игру))

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Great changes all around, bullish!

I don't understand, I always use Hivekeychain. Should I still change a password?

Looking forward to Riftwatchers!

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Oh well, I can't imagine the hype on SPS token when these airdrops end up 🤩

Nice update coming from here and let see how well this goes too

All these developments means a bigger future for SPlinterlands and Hive.

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Why was the decision made to pay for the Spellbooks of accounts holding SPS with no Spellbook?

I don't know the full situation, but I would think that any account that can't be bothered to front the $10 for a spellbook whilst holding SPS shouldn't be receiving a free spellbook in the first place, as they sound like investors and hodlers who would be detrimental to the health of the game, looking for a flip and not caring about the game or company enough to throw $10 at a spellbook.

I guess I'm wondering why there's an issue now suddenly where that needs to happen, if there's already functionality for the account that 'has' SPS with no Hive account attached.

Thanks and keep up the good work, looking forward to Rewards 2.0 and the Modern Split!

Thanks for sharing this I really appreciate it

Please I need to get involved into this... I am new here I need some orientation about this place.