The Splinterlands SPS Token | Data on Supply, Burns, Staking and Top Accounts | March 2024

The SPS token was launched at the end of July 2021 in the midst of the bull market. Initially it did well, but as the time progressed the token price continued to depreciate and facing more and more challenges. Lately it has shown some signs of recovery.
In the first year, there was an airdrop for SL players, that ended in July 2022. The total supply for SPS is 3B and they will be issued in a period of 5.5 years after the launch. The airdrop is no more but new ways to issue the token are activated like the play to earn pool and other pools.
More utility was added as well, SPS burning for DEC creation, requirement to have staked SPS as a weigh factor for earning rewards when playing the game etc.

Here we will be looking at:

• SPS supply
• Staked SPS
• Liquid vs staked
• SPS distribution
• Top accounts that staked SPS
• SPS Price and Market cap

The period that we will be looking at is July 2021 till March 2024.

Supply

How is the supply going? Here is the chart.

We can notice the sharp steps first. This is when tokens were unlocked on a monthly basis. Since February 2022, there is a daily issuance of the token happening on the BSC chain.
Overall, we can see that the number of new tokens entering the supply has decreased and there have been some burnings. The light color on the chart.
The current supply is near the 1.23B SPS, or more than one third of the planned distribution has been issued. The max cap for the token supply is 3B, but since more than 100M was burned it is now at 2.88B. Another important thing to note here is that the DAO now holds almost significant amount of SPS tokens as well.

Daily Issued SPS Tokens

Here is the chart for the issued tokens per day.

As we can see at first there was around 2.3M tokens issued daily, then it dropped, most significantly back in July 2022, when the airdrop ended to around 830k, and it has dropped again to 620k where we are now. At this rate of printing the SPS token is around 18% inflation that is reasonable bearing in mind the initial inflation was in the multiple hundreds.

Disclaimer that this data has been pulled from the BSC chain, and I’m not sure does it exactly matches the in-game records for the SPS token. I have also made some small adjustments.

Staking

What about staking? Are players staking some SPS? Here is the chart for daily net staked. Positive bar means more staked in the day, negative more unstacked.

This is the overall staked and unstaked daily SPS.
As we can see there has been some unstaking in the period August - September 2022, and again recently at the start of 2024.

When we plot the chart on a monthly level we get this:

A clearer representation here, where we can notice that most of the months have net positive SPS staked, with only four months in the negative. There was a lot of unstaking happening just recently in August 2023, when there was a net of 50M SPS tokens unstaked.
In the first two months of the year there is again a negative amount of staked SPS, due to some large holders unstaking.

Note: the above is a net staking, meaning staked and unstaked SPS combined. The data is collected from the blockchain. There is no record of cancel unstake operation and I have made some manual adjustments for it. It’s not a 100% accurate data.
When we plot liquid vs staked tokens we get this.

An overall uptrend in the staking with some bumps on the way. Meanwhile the supply has also increased.
If we plot the staked vs liquid supply as a share we get the following chart:

We can see the sharp increase in the share of staked SPS in the beginning. The APR at the start was high and a lot of users were staking.
Towards the end of 2023 the share of the staked SPS increased again reaching 75% at one point. A corrections since then in the last months and we are now just above 60% staked.

The pie for the staked vs liquid tokens at the moment looks like this:

This chart shows all the tokens that have been issued until now, including the burned. Because the burned tokens are included the overall share of the staked tokens has dropped to 56%. But as we can see the liquid supply is 26%. Around 9% of the SPS supply is now in the DAO.

Top Accounts that Staked SPS

Who is staking the most?

The @vugtis account is on the top here with 18M staked. @cryptoeater is on the second spot, followed by @bravetofu.

SPS Price

At the end the price chart.

After a long period of downtrend, the token has finally stabilized and shown some signs of increase in price. The bull market seems to have returned recently with BTC reaching new ATH. Alts usually lag behind it. It can be an exciting year for SPS, but will see how things progress going forward.

All the best
@dalz