The Splinterlands SPS Token | Data on Supply, Burns, Staking and Top Accounts | Jun 2025

The grind continues for Splinterlands. A lot of new things happen in the first half of 2025. Validators, new card edition, etc. SPS has finally seen a small rally in the last months.
The SPS token was launched at the end of July 2021 in the midst of the bull market. Initially it did well, but as time progressed the token price continued to depreciate and face more and more challenges. There were tweaks in the supply emission as initially it was airdropped then continued to be issued as a reward, but at the same time there were burring mechanics.

Here we will be looking at:

• SPS supply
• Staked SPS
• Liquid vs staked
• SPS distribution
• Top accounts that staked SPS
• SPS Price and Market cap

The period that we will be looking at is July 2021 till now.

Supply

How is the supply going? Here is the chart.

We can notice the sharp steps first. This is when tokens are unlocked on a monthly basis. Since February 2022, there has been a daily issuance of the token.
Overall, we can see that the number of new tokens entering the supply has been at steady pace and there have been some burnings. The light color on the chart. We can notice the drop in the supply in the last period. This is due to the new card pack sale, that requires DEC, that is created with burning SPS. There was another drop in the supply back in September 2022 when there was also a card sale that burned SPS directly and also from the license sale.

The current circulating supply is close to 1.4B SPS, plus 230M burned, meaning more than half of the planned 3B tokens distribution has been issued. The max cap for the token supply is 3B, but since more than 230M was burned it is now at 2.77B. Another important thing to note here is that the DAO now holds SPS tokens as well, a total of 161M active so to speak and another 585M in game that are preminted so to speak from the total initial allocation to the DAO and some team tokens. All the tokens in the DAO are locked and their use is subject to staked SPS holders voting.

The chart for burning SPS looks like this:

Disclaimer: The data in this chart and in the others is etimated and not totaly accurate. Its a bit chalenging finding official historical data for all the tokens movement duet to structural changes, chain migrations etc.*

A big spike in the last period during the new card sales. Up to 230M SPS burned now, more than 100M in the last few months.

Monthly Staked SPS Tokens

Here is the chart for the issued tokens per month.

There was quite a stable period in the last months, but then there was some volatility in the last months, first unstaking, and then staking again. This is probably due to the new card set, some of the users might use SPS to buy cards. Now things seems to calmed down.

When we plot liquid vs staked tokens we get this.

We can see the unstaking in the beginning of 2024 when the total staked SPS dropped from 900M to 700M. Then it increased again to 950M and it in the last six months it has been hovering around this number with some small fluctuations here and there.

If we plot the staked vs liquid supply as a share we get the following chart:

We can see the sharp increase in the share of staked SPS in the beginning. The APR at the start was high and a lot of users were staking.
Towards the end of 2023 the share of the staked SPS increased again reaching 85% at one point. A correction in 2024 and in the last period the share of staked SPS has been in the range of 60% to 70%. This is from the circulating SPS supply.

The pie for the SPS distribution at the moment looks like this:

This chart shows all the tokens that have been issued until now, but also the ones that are pending for issuance in the reward pool and the DAO.
Most notably is that there is now more than 8% of the total possible SPS supply burned.

Top Accounts that Staked SPS

Who is staking the most?

@bravetofu and @vugtis are in the close competition for the first spot with both of them at more than 50M SPS staked, followed by @sps-renter and @azircon! Some big chads here.

SPS Price

At the end the price chart.

Quite the drop in the SPS price from the highs in 2021 and 2022. In the very last period we can notice a spike from 0.006 to 0.014 and now we are again at around cent. A lot of possibility on the up side here. Will see how things will evolve in the future, but SPS is getting a harder asset now with relatively moderate issuance compared to the first years and more burning in the process.

All the best
@dalz

P.S. I'm a Splinterlands validator, your support is appreciated:
https://peakmonsters.com/validators