It’s been a year since Splinterlands introduced the SPS token and began daily airdrops to their users. But as the saying goes, all good things must end. And so, on schedule, the SPS airdrop ended today. With the airdrop completed, there will still be opportunities to earn SPS tokens, but it will require some additional engagement with the Splinterlands ecosystem.
This marks the transition for the SPS token from the distribution phase to the utility phase. And though there will still be ways to earn SPS tokens, the main focus now is on providing additional utility and use cases for the tokens.
The team is very focused on delivering their promised features once they get their new economy sorted out. They have been very reactive and responsive to issues in the past. Splinterlands has an ambitious roadmap for the next 9 months, with a lot of exciting stuff for players. Among the list are a new expansion called Riftwatchers, an in-game market for non-card items (totems, lands, etc), and the first phase of land gameplay!
Splinterlands seems to be growing the right way. They are always working on improving their service, making sure that it’s functional for players. And improving, adjusting, and fixing their game economy is another important foundation. One that we see too often neglected among the play-to-earn gaming community!
SPS Token Utility and Generation
The first change for the SPS token involves battle rewards. The battle rewards will switch from DEC tokens to SPS tokens. Players will no longer be able to earn DEC (Dark Energy Crystals) tokens. They will need to either burn cards (everyone has a DEC burn value), buy DEC, or burn SPS for DEC. This move is primarily meant to return DEC to a semi-stable token (where 1000 DEC equals one dollar), but it also creates an additional deflation outlet for SPS tokens. DEC functions as the main in-game currency.
Users who contribute to the DEC and SPS liquidity pools can also earn SPS tokens. And, the in-app staking system continues. SPS holders can lock up their tokens for additional token income (APR is currently around 35%). In an interesting decision, SPS tokens earned from battle rewards will be automatically staked. This not only introduces passive income for players, but also helps introduce the concept of staking to those who may be new to the scene.
Even with several sources of SPS, the overall token generation is greatly decreased from the amount that was sent out during the airdrop. The total distribution timeline for SPS is 5 years. After that, the governance DAO decides how to distribute the SPS from its treasury.
As for utility, SPS will be used for future governance, staking on players, node license purchases, land development, and more! Though the SPS token has lost 90% of its value over the past year, the deflationary model and upcoming use cases will help provide long-term value for this token to the Splinterlands community
What is Splinterlands?
Splinterlands is a play-to-earn, trading card game that started on the Steem blockchain as Steemmonsters. However, over time the project changed its name and switched to using the Hive blockchain. The game plays in a browser. Thanks to cross-chain functionality, cards and tokens can also be traded on the Ethereum blockchain and on Wax. Splinterlands has a governance token, called SPS.
Splinterlands is a cross between a deck-building game and an auto-battler. Players use their cards to create a combat lineup based on the rules of the match. Then, once both sides submit their teams, the cards battle it out until only one team remains. Players earn rewards for winning matches, and can also earn additional rewards through Daily Quests, Seasonal rewards, and a recurring, two-week leaderboard contest.
Players combine cards to level them up for better stats and additional abilities. This makes all the cards deflationary, with fewer and fewer existing as time passes. Cards come in both regular versions and rarer, gold foil versions. Splinterlands features its own in-game market and allows for buying, selling, and even leasing cards!