Splinterlands has announced today that it will be making a major switch to the system behind its governance token Splintershards (SPS). The hugely popular play-to-earn game will be switching to decentralized SPS validator nodes later this year.
The major switch for Splinterlands SPS software will come this year
To sum up, Splinterlands is implementing a decentralized system of governance. This system will control the validation of SPS transactions, and manage the SPS foundation funds.
For one thing, Splinterlands’ new decentralized SPS software will use a Delegated Proof of Stake model. That is to say, anybody staking SPS tokens can vote for people running validator nodes to make important decisions. In short, the more staked SPS that people delegate to a validator, the validator will get more blocks to validate and earn higher rewards.
What’s more, Splinterlands’ SPS validator software will be open source. This means that anyone will be able to download, install, and run it without extra costs or restrictions. However, people will have to pay for node licenses with SPS.
To clarify, the node licenses are a way for Splinterlands to prevent a small number of accounts from getting the majority of rewards. Licenses will allow Splinterlands users to earn rewards for running nodes without a need for any staked SPS votes. To that end, users can buy SPS licenses can with a combination of SPS and VOUCHER tokens.
Splinterlands will burn 80% of the SPS tokens and 100% of the VOUCHER tokens it gets for the licenses. The remaining 20% of the SPS tokens will go to the SPS Foundation. Then, after SPS reaches its cap of 3 billion tokens, those SPS tokens will be a reward for validators.
Splinterlands CEO Aggroed Reich noted in a statement how this SPS move is part of a larger goal.
“This is a major step towards our goal of Splinterlands operating as a completely decentralized game that the players own and control through their SPS.”