Splinterland delegation: Is it worth it?

in #splintrland2 years ago

When new DEC tokens were released, spliterland came out with a great delegation offer.

In addition to "burning" cards, or purchsing DEC on the Steem Engine or Tron markets, there will now be the ability to earn Dark Energy Crystals by delegating Steem Power to the @steemmonsters account! Each delegator will be awarded DEC on a daily basis from the amount taken in from users buying votes in proportion to their delegation.

This is similar to delegating your SP to voting bots but what made it a great deal was this next section:

Initially we are planning to distribute the DEC earned buying votes from the ~360k SP available in the @steemmonsters account to all of the other delegators. This is to encourage more people to delegate as they will be receiving additional DEC rewards compared to their delegated SP.

This sounded absolutely amazing, they were distributing DEC earned by their own SP to delegators so I jumped on the opportunity right away and delegated 200 SP.

Initially results were fine. For the first few days i earned a decent 70 DEC for my delegation but it quickly dropped. So this weekend i did another analysis of how I was actually doing delegating my SP to splinterland.

I was surprised

I made a negative ROI in last 7 days comparing it to what I was paying on an average to the SP I was delegating from open market.

Source: https://busy.org/@steemmonsters/promote-your-posts-with-the-dark-energy-crystals-steem-engine-token

image.png

From my calculations, I made ~280 DEC from delegating 200SP for a week. Which in current market price is worth .65 STEEM.

For the SP I was delegating from open market, I paid .7 STEEM/Week for 200 SP. So I made a loss of .05 STEEM. That's -7.7% ROI.

So to answer the question, Is it a good idea to delegate to Splinterland/ steemmonster?
NO

Hope this helps someone, who cares about this type of stuff.

@mightypanda

Sort:  

So it better to delegate out to the market and then buy DEC.

Posted using Partiko iOS

Absolutely. Even better if you just up your cards a little bit and then mine DEC. The amount you get increases if you climb higher in league.

If you do want to delegate, hit me up. I will take a direct lease at market price, so you will get more, no commissions to pay.

Cool. In July I’ll be getting some back and let you know. How much you looking for?

Posted using Partiko iOS

1000 or so. Maybe more.

Hi, @mightypanda!

You just got a 1.73% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.