Splinterlands and DAO SPS Team to Use 30M SPS to Get Listed on More Exchanges

The SPS DAO wants to allow the Blockchain Founders Fund to spend up to 30 million SPS to list the token on other exchanges. The move could increase the token's publicity and bring new players into the game's community.

Blockchain Founders Fund (BFF) has helped Splinterlands list their token on exchanges such as Gate, Crypto.com, Huobi, MEXC and Bitrue in the past. BFF is a large SPS asset holder with significant experience negotiating in the crypto space. The token listing is important for the development of the game, increasing liquidity and providing new opportunities for the on-ramp ecosystem of the game.

If the proposal is approved, BFF will negotiate with other exchanges to list the SPS token, proceeding according to the following criteria:

1. Up to 30 million SPS is reserved for the listing, which is just under 870,000 USD at the exchange rate at the time of writing

- Up to 30 million SPS when listing on the top exchanges, Binance or Coinbase

- Up to 7.5 million SPS for each additional top 10 exchange  

- Up to 2.5 million SPS for exchanges that support fiat on-ramps

2. The allocated SPS will be valid for a period of 1 year from the moment this proposal is fully approved by the DAO. After this period of time has expired, unused SPS will require a renewal of the proposal by the DAO

3. All negotiation services will be provided free of charge by BFF

The proposal has been written and approved by the Splinterlands Community Leadership Council, and while the council believes that negotiating with Binance or Coinbase will be difficult and lengthy, it is confident that the dollar amount and timing could be beneficial to the game. Although the ongoing bear market has forced many companies to shut down or suspend development, Splinterlands has weathered the storm, showing stability and becoming more attractive to larger exchanges.

According to preliminary discussions, BFF believes it is an ideal time to seek a listing on a new exchange, as the associated fees are at an all-time low, and this is likely to rise more quickly than token prices. For example, at the peak of the last bull market, fees were 90% higher than they are now.

While the board is aware that 30 million SPS is a lot of money, it is still only 10% of the total amount that was allocated to the DAO in the whitepaper, and less than half what the DAO raised by selling the Riftwatchers miniset, which still has 10 million USD’s worth of packages on the market, so it is likely that another 150 million SPS will be added to the DAO's coffers. Additionally, the Splinterlands team is planning another miniset release to be sold with each main set, with the proceeds going to the DAO.

If the proposal is approved, it will be at least 1-3 months before the first listing on the new exchange. The company plans to use this time to finalize some other plans such as:

- Release the key part of land 1.5, which will provide more card and DEC options

- Introduce various improvements for new players and make entry into the game more efficient

- Maximize the opportunities offered by token listings to engage new players and collectors in the community

The board believes this move is the best for the game at this time, and an ideal way to leverage the DAO's resources to increase the spread of the SPS token.

Source: peakd.com