Why Staking SPS token feels like hitting two crypto birds with one stone ?

in hive-175254 •  2 years ago 

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If you have crypto that is stakeable then never keep it idle.

This is a valuable lesson of crypto that earlier we learn the better it is for our portfolio.
I am writing this post in reference to staking the SPS tokens.

How to put your idle SPS tokens to work in Splinterlands ?

SPS is the native token of the splinterlands game.
It is a blockchain based game and can be found at here

As per dappradar it ranks it is a leading game ranking at number 2 in game charts
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SPS is the native token of the splinterlands game .

Currently at the time of ranking the post the SPS token trades at $0.02744
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How to check your SPS balance ?

To check your SPS token balance login to yout splinterland account by clicking on login button
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This opens up the next screen which gives you multiple login options
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If you are new to the splinterlands game you may consider signing up using my link here

I use hive keychain to manage my login.
Post login I see I have 190.806 SPS in this particular account of mine.
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One can check the SPS balance by clicking the SPS button next to the dashboard.
My 190.906 SPS are about $ 5.2 in value.

If I were to stake them I would get an APR of 23.51% which is very good.
To stake the SPS tokens one can click the stake button.
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The next screen prompts me to specify how many SPS do I wish to stake.
The more one stakes the more returns one would get so I select MAX and click the stake button.
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This brings up a final confirmation screen as once staked the SPS tokens get locked and in case one initiates an un staking process it would take a period of 4 weeks in 4 weekly installments to get back the staked tokens.
Since I am using the Hive keychain a confirmation menu pops up
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I click confirm and the the transaction gets confirmed.
Now I can see the SPS tokens are staked
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Hitting two birds with one stone

By staking your SPS tokens you set yourself up for the GLX token airdrop.

What are GLX tokens ?

GLX is the governance token of genesis league which happen to be an Soccer based upcoming play2earn game.
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GLX airdrop for SPS stakers started on October and would continue for 365 days. How cool is that ?

Final thoughts

If you are mostly focused on crypto, blockchain and financial content you should add blockchain based play2earn games to your radar and alwayscheck the if the crypto that you hold can be staked. Doing so you are putting your idle crypto to work and in this case there is the additional benefit of an airdrop.
What else can you ask for in this bear season?

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@tipu curate

thanks bhai