Introduction to SPS Token and Core Functions
SPS (Splintershards) is the official governance token of the well-known blockchain collectible card game Splinterlands. Splinterlands was launched in May 2018, while the SPS governance token was issued in late July 2021, aiming to gradually transfer game decision-making power to the community. The SPS token operates on the Binance Smart Chain (BSC), chosen primarily for its faster transaction speeds and lower transaction fees.
The core functions of the SPS token include:
- Governance Voting: SPS holders can participate in governance voting for the game's ecosystem by staking tokens, expressing their opinions on major issues such as the future direction of the game and adjustments to the economic model.
- Staking Rewards: Holders can earn rewards by staking SPS.
- Ecosystem Incentives: SPS, as an important component of the game's ecosystem, is used to incentivize players, content creators, and community contributors.
There is also another currency within the Splinterlands game called Dark Energy Crystals (DEC). Players can earn DEC by participating in ranked battles or converting game cards, and DEC can also be traded on third-party platforms.
SPS Tokenomics Overview
According to public information, the total supply of SPS tokens is 220 million, with a maximum supply set at 3 billion. As of the time of writing, the circulating supply of SPS in the market is approximately 125 million. The market capitalization of SPS is approximately $377,000, and its current price is about $0.002974. These data are subject to real-time changes with market fluctuations and are for reference only.
SPS conducted a private token sale in July 2021, selling 6.6% of the total supply (i.e., 200 million SPS) for $3.6 million. Investors included well-known cryptocurrency institutions such as Animoca Brands, Blockchain Founders Fund, Enjin, Polygon, and Yield Guild Games.
SPS Token Trading Platforms
SPS tokens have been listed on multiple decentralized exchanges (DEXs) and were previously listed on some centralized exchanges (CEXs). Since SPS operates on the Binance Smart Chain (BSC), its primary DEX trading activity is concentrated within the BSC ecosystem.
Decentralized Exchanges (DEX)
- PancakeSwap (V2 & V3): As the largest DEX on BSC, PancakeSwap is one of the main trading venues for SPS tokens, typically offering trading pairs such as SPS/WBNB.
- BabySwap: Another BSC-based DEX that also supports SPS trading.
Centralized Exchanges (CEX)
SPS tokens were previously listed on several centralized exchanges, including Gate.io, Crypto.com, MEXC Global, and Hotcoin. However, cryptocurrency market liquidity and project listing statuses change rapidly, and some exchanges may have adjusted their supported trading pairs or services. Given the current market liquidity of SPS tokens, users are advised to verify the SPS listing status and trading pair information on their target exchange before trading.
Additionally, exchange platforms like ChangeNOW also offer fast exchange services for SPS with various other cryptocurrencies (e.g., BTC, ETH, USDT).
How to Buy and Sell SPS Tokens
Buying and selling SPS tokens typically involve the following general steps:
- Acquire Mainstream Cryptocurrencies: First, you need to purchase USDT, BNB, or other mainstream cryptocurrencies on a fiat-supporting cryptocurrency exchange (e.g., via bank transfer or credit card).
- Choose a Trading Platform: Depending on your needs, select a platform that supports SPS trading, such as PancakeSwap (DEX) mentioned above or a CEX that you have verified still supports SPS trading.
- Transfer and Exchange:
- For DEXs (e.g., PancakeSwap): You will need a BSC-compatible Web3 wallet (e.g., MetaMask) and transfer BNB (for transaction fees) and the assets you wish to exchange for SPS (e.g., USDT or WBNB) into that wallet. Then, connect your wallet to PancakeSwap and select the SPS trading pair on the exchange interface to perform the exchange.
- For CEXs: Deposit the mainstream cryptocurrency you purchased (e.g., USDT or BNB) into your chosen CEX account. Then, in the exchange's spot trading section, use USDT or BNB to exchange for SPS.
- Sell SPS: The process for selling SPS is similar to buying it, which involves exchanging it back to USDT or other mainstream cryptocurrencies on a platform that supports SPS trading, and then withdrawing it to your Web3 wallet or transferring it back to a fiat-supporting CEX as needed.
Risk Warning
The cryptocurrency market is highly volatile. As a game governance token, the value of SPS tokens is influenced by multiple factors, including the development of the game ecosystem, community activity, and overall market sentiment. Before engaging in any transactions, please fully understand the project information, assess your risk tolerance, and conduct thorough due diligence on the compliance, liquidity, and security of your chosen trading platform. This article does not constitute investment advice.
