Adding liquidity, SPS airdrop influence and more Splinterlands revenue
I had some DEC from card sales and decided to throw it into the DEC/BUSD pool on Cubfinance. It wasn't that much, to be honest, I think it was like 20k DEC or roughly $145 and pooled it against the equivalent amount in BUSD.
In recent times, I've been redirecting funds from my Splinterlands activities to funding my life. However, I decided to reinvest funds in a strategic way that I believe will add even extra value to my life.
Money from money
So the DEC/BUSD pool doesn't actually have a high APR. At the time I pooled, I think it was around 13% and on top of that, it has a tiny multipliers
With that said, I'm still printing Cub with that investment but the real profit comes from another angle.
Thanks to the staked LP tokens in the pool, my daily sps Airdrop increased by about 6.3 on the first day but that will be different by tomorrow. However, let's assume it stays the same throughout the course of the airdrop, then that would mean that I receive about 2,135 SPS tokens.
If I theoretically earn that amount of tokens per day, and we assume that the SPS token price trades at an average of $0.4, then my liquidity pool stake will have earned me around $854.
So, in theory, if I hold it throughout the remaining period of the airdrop, then I'd have earned nearly 4X the value of my initial investment.
Lets be optimistic for a minute
So, let's assume that SPS tokens even do better in the market, and get even closer to $1. I could have 10Xed the initial value of my LP tokens in the pool.
Also, on top of that, I'm also printing Cub tokens at a relatively slow rate but it counts for something. At the rate I'm printing, I'd probably be printing around 0.5 Cub every 24 hours.
In the general scheme of things, that's not much but since we're being optimistic in this part of the post, let's say Cub goes on a run and lands around $10. That would translate to $5 a day from my LP tokens.
Looking at the market now, this is kind of like a pipe dream, so I'm not holding my breath. However, what I can say for sure is that my money is working for me.
Back to reality
Realistically speaking, I know things will not be as smooth as my imagination wants them to be. There will be ups and downs along the way.
Also, all my assumptions about the price of the tokens could be very right or very wrong. Either way though, my money is working and that's all that matters.
I also intend to add more liquidity to the DEC/BUSD pool through the sale of some of my cards. I've had a had time just letting my DEC sit in my wallet because of my anxiety.
I know it adds to my SPS airdrop points but at the same time, my anxiety won't let me rest. Now that I can put them into a liquidity pool, I won't be bothered.
In my mind, the DEC I pool against BUSD is locked up forever because unless there's a meltdown of cataclysmic proportion, the token and the BUSD will be locked up forever.
Focused on today and tomorrow
In summary, I'm just taking steps that will enable me to grow my portfolio in any way possible. The general concept is to move money around and try to stay on the green side of the table.
I don't know if it'll work out in the future, but it sounds sensible on paper. Adding liquidity increases my SPS airdrop, opens up an extra cub income opportunity, and invariably increases the number of chaos legion packs I'll be able to get.
If it works out, good for me. However, if it doesn't, well, I'm alive, so I'll just brush myself off, pick up the pieces and try again on something else.
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Thank you for sharing @belemo! I really appreciate your experience around this. I need some input myself 👍
Glad I could help. How's your deck doing?
Vel, it is still early on for me. Fighting at approx 1000 rating and need to unlock silver🤣 I Will manage there soon, gonna need to buy and level my card on the next payment,lol
Yeah just keep adding to it at your pace and battle your balls off.
@belamo sps will surely have higher value it is just a matter of time. I think it is right time I buy some SPS to share in the airdrop pool. Thanks for this refreshing post.
Hello @belemo,
I just noticed that I wasn’t even following you ! Crazy right ? 😅
I just had one question, when you add the DEC-BUSD LP, if you filled out your BSC address on the Splinterlands UI, it will add the LP to your airdrop points automatically ?
I might just do as you actually ! Thanks for the tip.
And as far as you know the only DEC LP is the one on CubDefi right ?
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lol I actually thoght you were follwing me all along lol. Well, yes and yes to all the questions.
You just need to link the BSC address that you're using to add the LP tokens, and you'll be receiving SPS airdrop on SPlinterlands. You can claim it on the SPS management portal in the game. I only know of Cubfinance for DEC/BUSD pool.
On Pancake swap, you can stake SPS tokens to earn cake or stake cake to earn SPS tokens but that one doesn't contribute to the airdrop.
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I thought so too, this is why I was surprised.
Okay, this is what I thought. The only 2nd thoughts I have are on the 2% fees to provide LP on DEC-BUSD.
So I would need to commit for a while in order to get profit + these fees back.
Tough decisions. Too many ways to make money hehe
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There are a lot of opportunities with @splinterlands. We are seeing the foundations of the game expanding to the point where there are plenty of opportunities for people to make a lot of money.
We will see how it goes but it is providing a lot of people with a return.
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I'll be keeping my fingers crossed, timing the market and pick out more ways to increase my revenue.
Hello @belemo , can you please suggest where I can learn all I can about splinterlands? I also was wondering if the LP can also be achieved using a DEX like pancake swap
The LP is on Cubfinance only.
On pancake, you can stake SPS for cake or cake for SPS but that doesn't add to your Airdrop points.
If you want to learn about the game, just go to splinterlands.com and use the learn page
Ok boss, thanks for taking out the time to reply most of the comments on your posts, I know it's not easy
Awsome post, thxs for the insight, see u at arena!
A little risk for rewards might pay well to all of us in long run (curated by r1s2g3)
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It gets better - you can also stake and compound those extra SPS!