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Phil Hall
Phil Hall
May 27, 2021
News

Splinterlands Announced SPS Governance Token

Splinterlands has announced their own governance token, Splintershards or SPS. Token holders will become members of a DAO.
Splinterlands Announced SPS Governance Token

Splinterlands has announced their own governance token, Splintershards or SPS. The teams considers the token to be part of their efforts to give ownership over the game to the players. Ownership over SPS will make players a member of a decentralized autonomous organization, or DAO. Distribution of the SPS token will start in July.

Splintershards (SPS) has been designed to reward long-term asset holders and supporters of Splinterlands, which has been running for three years already. The token will start distribution in July, and distribution will last for 5 years and 5 months. The token will exist on the Binance Smart Chain, and holding the token will give players voting rights on certain governance decisions within the Splinterlands project.

It will take a while before Splintershards have been fully integrated into Splinterlands. The developers expect this to be finalized by the end of the year. Until that time, users can trade, stake, and earn tokens through DeFi mechanics on the Binance Smart Chain.

SPS tokenomics

In total there will be 3,000,000,000 SPS tokens, of which 400,000,000 SPS will go to current players and collectors. These 400 million tokens will be airdropped to asset holders on a daily basis over a period of one year. A player's entire Splinterlands holdings influence the rewards they receive, including cards, packs, land and DEC tokens.

SourceTokens% of Total
Airdrop400,000,00013.33%
Foundation / DAO300,000,00010.00%
Private Sale200,000,0006.66%
Team270,000,0009.00%
Partners / Advisors30,000,0001.00%
Play to Earn900,000,00030.00%
Staking / LP / Oracle Rewards900,000,00030.00%

Starting from July various liquidity pools for SPS will go live on Binance Smart Chain. There will likely be staking mechanics for liquidity pool providers, allowing them to earn SPS. Rewards for staking and liquidity providing will be distributed during the entire 65 months (5 years and 5 months). The developers have put aside 900 million SPS for that, or 13,84 million SPS tokens per month.

In addition SPS will be used as a reward in the game itself. Players can earn the token through battles, tournaments, guild brawls and more. However, keep in mind that the Splinterlands DAO has control over the SPS tokenomics, therefore things might change.

Initially there will be 37,500,000 SPS tokens in the reward pool per month. However, every month the pool decrease with 1%. So after 5 years the pool will distribute only 20,518,400 SPS per month. These rewards will end after 65 months, or five years and five months.

Reward poolInitial SPS Token Rewards per month
Ranked Battles7,500,000 SPS
SPS Staking Rewards7,500,000 SPS
Liquidity Pool (LP) Incentives7,500,000 SPS
Land Expansion6,250,000 SPS
Oracle Rewards3,750,000 SPS
Tournament Prizes2,500,000 SPS
Guild Brawls2,500,000 SPS

Wait, Splinterlands runs on Hive

The trading card game Splinterlands used to run on the Steem blockchain but has now found its home on Hive. Even though the token exists mainly on Binance Smart Chain, players don't need to worry. All interactions between the game on the Hive blockchain and the token on BSC, will be governed by so-called Oracles.

That means that tokens earned in the game will be locked into smart contracts. Basically, the tokens are like an IOU note. The moment you want to move those tokens to your Binance Smart Chain wallet on Metamask, you can do that easily.

What is Splinterlands?

Splinterlands is a trading card game that started on the Steem blockchain as Steemmonsters. However, over time the project changed names. Now gamers can play the game on desktop and mobile devices, mainly using the Hive blockchain. Thanks to an intelligent functionality, cards, and tokens can also be traded on the Ethereum blockchain and on Wax.

Splinterlands allows anybody to play and earn cards and other resources. Players need to create a set of cards to defeat their opponent. Cards come in different rarities with seven different stats. In addition, these cards have abilities and come from seven factions. The way cards work together is dependent on all these different attributes.

Players earn cards by winning matches. They can combine cards to gain levels. After that, you can sell cards on the open marketplace for cryptocurrencies, or lease them to other players. The rarest cards are wanted assets, especially when there are tournaments.

Curious how to earn money playing Splinterlands? Read our guide and create your free account on splinterlands.com.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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