It's a busy time of the year and I expect this proposal might fall under the radar for some. The proposal it to launch a new token called DEC-B which is a bond type token for the DEC token.
This DEC-B token is something that can be bought for a discount such as 20% and later used in the game when things like land upgrades and so forth become more and more demanding and enter into the game.
In theory this advancement is to increase the value of DEC back to it's peg level which was crazy inflated during the bull market and DEC rewards along with DEC staking for SPS was in crazy high demand.
At the time of writing this DEC is currently back down to lows of nearly half the value it should be holding at.
Max history I can find on the token
You can see how inflated this token was. Something that should be worth $0.001 at all times shot up to $0.015 at it's peak and held above $0.01 for a few months. During all of this time it was over that peak of $0.001 DEC was being printed like mad in terms of rewards for players.
However once the SPS airdrop was over we saw DEC drop to new lows. In fact so low the company is now struggling.
In a way this is good as renting is actully cheaper in DEC value then it was months ago. In fact my own DEC earnings per day where well over $50 daily in renting rewards during the bull market. Fast forward to today and I get roughly $5 a day some times a bit more and sometimes a bit less.
We did see DEC move upwards to near $0.008 during the winter pack sale event of which sold a good amount of packs. However even that failed to get anywhere close to selling out Chaos decks. At these current rates it will take 3 months to sell out of Chaos packs. That's actully a very long time and the next yearly pack is set for release soon after. (Which I'm hoping is delayed in order to give a few months delay between packs) Simply put there where way too many packs and way too many options for what the market was demanding and we are now in saturation mode.
While I understand needing to return the DEC peg back to $0.001 as soon as possible and the benefits it will have I don't see a bond lock up being that solution. Instead the company needs to come up with the demand and the community needs to promote and want those cards. Sad to say but when people start seeing money flood in and values increase it's going to start attracting a lot more people to the game over anything else.
Soul Bound Cards
I believe other things like soul bound cards that are locked per account and then can be unlocked with a DEC burn to be traded on the market has much more of a desired effect I think. While some in the company feel the soul bound cards should be locked forever they forget that it's pretty much luck of the draw to max out a card and getting legendary etc. Sure you want those cards and want to rank up higher for more chances to get those cards but it's rather hard for any one account to actully earn enough chests to fully max out that card themselves. Instead most are bought on the market and combined. Creating a burn to trade value of the card to me prompts even more value into the card as not all cards would go on the market and still be limited. It would allow people to still max out the card via market buys but they in theory would most likely be paying a little higher of a price.
Land
Land needs to get here already. I understand the struggles with it but it's been a hell of a long time now that we have been waiting for land. At the peak land was selling for $1,500+ per plot and you couldn't do a dang thing with it! Now it's worth $160 roughly and you still can't do anything with it!
Land in itself I feel is going to start producing value to DEC in itself and people are going to be buying it and demanding it for their lands.
Last Thoughts
If the above changes and introductions can't bring the peg back to DEC then something is seriously flawed. Many "Prints" of DEC have been removed heck I honestly don't know of any prints anymore of DEC. So naturally as time moves on and people use the DEC in swaps, trades, lands, buildings, guilds etc it will naturally increase in price and fix the over printing and saturation that was created in the game. I do hate to say it as I feel like I'm being a jerk but that 100% is the companies fault and not the players. SPS holders and zero say in any of the things that created massive printings of DEC and now we are paying for it greatly in the bear market.
I do see DEC returning to PEG but it should be done in the development of the game assets such as pack buys, SPS burns, fees, buildings, lands and so on that will be introduced to the game in hopefully Q1.
What needs to happen is just like the company made drastic measure in downsizing to reduce costs (which always happens and is a good thing to do ever so often as companies do get bloated and inefficient) it now needs to restore value and bring to the table what made splinterlands awesome in the first place. That means not everyone will have the ability to buy packs at $4-$5 they might have to buy them on the secondary market or buy cards off the market. Of which that 5% collection fee at least 1% of it or 1% on top of it needs to start going back into the values of SPS I believe along with other matters.
Now don't get me wrong I think it's a great idea but I feel it's just jumping the gun and it's going to make the hype of land feel more dead as a lot will have already been priced in with bonds instead of just letting the tokennomics and players figure it out.
This sounds like a better idea to me than have the reward cards soulbound forever. We want to be able to upgrade these cards and depending on luck to have more isn't the best. I am up for the soulbound but give it some flexibility like you suggested could be a better option.
Posted Using LeoFinance Beta
Exactly and having to use DEC to unlock the card for the market already provides some essence of value to the card. I'd like to see it a little higher something like 10 DEC at least so it's a 1 cent value. of course higher like 100 might be better which would put each card at $0.10 value at least. Plus some of that will get burned and go back into the game. Lots of pluses there for a low cost.
Yay! 🤗
Your content has been boosted with Ecency Points, by @spt.bitcoinflood.
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more
Congratulations @spt.bitcoinflood! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 50 replies.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts:
Support the HiveBuzz project. Vote for our proposal!
!ALIVE | !BBH | !LOLZ
lolztoken.com
1Forest1.
Credit: reddit
@spt.bitcoinflood, I sent you an $LOLZ on behalf of @vocup
Use the !LOL or !LOLZ command to share a joke and an $LOLZ
(1/6)
@spt.bitcoinflood! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @vocup. (1/20)
@spt.bitcoinflood! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @vocup. (1/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
@tipu curate
Upvoted 👌 (Mana: 11/41) Liquid rewards.
What should have happened is keep credit and DEC one of the same. When selling cards, you get the same currency.
The pegging should be done by the company in open market, actually buy back DEC when DEC is below peg.
What ended up happening is Splinterlands only sell DEC when over peg and never buy anything. Meanwhile when players sell cards they get DEC at market value of dollar equivalent thus creating downward spiral when the DEC price gets too low.
Now all the DEC created at twice the pegged amount, it will be increasingly difficult to even bring it back to peg as more cards are sold with credit to the company and creating more DEC for the players.
Splinterlands failed in this aspect, creating a 3rd currency as burn is just slowing down the spiral and not stopping it.
It is counting on the bull market to return when new players prop up the demand, and give them the power to print money as DEC goes above peg. That will be a bigger bubble for the next bear market if the peg is not controlled with the underlying currency which is USD.
Or lands may either make it even more expensive to be competitive in the game, and discourage new players, which will not be healthy and sustainable. It’s a fine line.
!PGM
BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!
The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]
5000 PGM IN STAKE = 2x rewards!
Discord
Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP
Get potential votes from @ pgm-curator by paying in PGM, here is a guide
I'm a bot, if you want a hand ask @ zottone444