In my last article, I asked whether Splassive would go the way of the dodo (an extinct bird) or rise from the ashes like the mythical Phoenix. I concluded that the odds favored Splassive rising like the Phoenix. Well, it is too early to tell if I will be proven right, but Splassive has been looking more Phoenix-like since I wrote that article.
For those not familiar with Splassive, it is a DEFI smart contract built on the Avalanche blockchain and pays 2% a day on funds deposited into its TAP contract. Deposits must be made in the project’s SPLASH tokens and the 2% daily interest is paid in SPLASH.
On the day I published the article, the price of SPLASH was at $0.13. After fits and starts, the price tripled and now sits at $0.38, rising in a nice uptrend over the last few weeks.
We cannot predict what will happen in the future, but renewed efforts by the developers and community members have breathed new life into Splassive. There is now a sense that people are seeing the opportunity that Splassive presents and the return it can generate for investors. Two percent a day is nothing to scoff at.
What exactly has been happening to Splassive to cause the price to rise? Let us start with the simple things. For one, the developers implemented a small change to how rewards can be claimed, to encourage responsible behavior from community members. Members can now only claim SPLASH earned once every twenty four hours. This reduces price pressure from whales who love to sell often and bring down the price.
Rewards will stop accumulating after 48 hours. Members who have accumulated rewards for 48 hours must either compound or claim, or they will get no more rewards. This makes it harder to build up large balances which can then be dumped on the market. These steps are geared towards price stability and making the project more sustainable.
Community members have also stepped up their efforts to help market the protocol, recognizing this will benefit all of us. Members are putting out YouTube videos and tweeting more to drum up support for a project that could make a real difference in people’s lives.
The developers are adding more utility to the protocol, including a Roulette game and a play-to-earn (P2E) game called Splash Kings. The Roulette game is being tested and should be released soon. The developers have released an early beta shot of what the game looks like. It looks quite professional and should attract new users to SPLASH.
Splash Kings is being beta tested at the moment.
These games will allow users to stake SPLASH to earn additional rewards and to earn SPLASH NFTs. These added utilities have generated excitement for Splassive and could attract new investors and lead to positive price action. I will give more detailed updates on these developments as more information becomes available and they get closer to being launched.
If the developers can bring these projects to fruition, Splassive could indeed finish its rise from the ashes and soar like the Phoenix.
Additional Thoughts on DEFI
It certainly is an interesting time to be in cryptocurrencies, especially in the DEFI world. Because of high prices and large market caps, making life-changing money from large cryptocurrencies like bitcoin is over for everyone except whales with large amounts of cash to invest. Investors with fewer resources can build up a solid portfolio in DEFI projects over time.
Choosing the right projects to invest in is critical because, unfortunately, there are many scam artists in cryptoland. Doing your research and investing in the right projects could be life changing.
Let us spread the word so the masses can get involved and free ourselves from a system stacked in favor of a few elites. I firmly believe we finally have a tool which democratizes earning wealth, but we have to educate the masses on how to take advantage of it. Onward and upward for Splassive and the crypto world!
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This article is for information and educational purposes only, and nothing stated herein is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits, or losses you may incur as a result of this information. Please do your own research and due diligence before making any investment decisions. The author has made every effort to ensure accuracy of the information in this article, but makes no representations or warranties, expressed or implied, to its accuracy, completeness, timeliness, or correctness. The author may own cryptocurrencies discussed in this article.