I'm a little late to the discussion (current votes tallied at 52% Yes and 48% No) but I figured I'd voice my opinion anyways. Before we do lets go over what a proposal is. In short a Splinterlands proposal is a way to submit an idea that will add change to the Splinterlands game/economy. When a proposal is at the voting stage, SPS stake holders get to vote Yes or No on said proposal. If the voted on proposal passes the Splinterlands team will begin the process of making the passed proposal a reality. The opposite is also true, if any given proposal doesn't get enough votes than the idea is not implemented. This brings us to the current proposal.
Proposal 52 (What Is It?)
Proposal 52 wants to add a "Quick Cashout" feature for SPS holdings that are stored in our Splinterland SPS wallet. Currently the proposal is suggesting a 1.25% charge to utilize this new feature. This won't take away the current system of a four week unstake process but add to the aforementioned option of a "Quick Cashout" or put another way instant unstake of ones SPS tokens. What does @rentmoney think of this? I think the idea itself is a good one but the 1.25% charge rate for an instant unstake of tokens is far too little. I see in the original proposal post that this is being marketed and accepted by some as a 5% charge rate but I don't agree with how the math is constructed. The ones claiming this is a 5% fee are taking the actual fee 1.25% and multiplying it by 4 weeks due to the 4 week waiting period the current unstake process takes. As the proposal is written the 1.25% fee does not compound, its a straight 1.25% fee. Ex. If I had 100 SPS to unstake and choose to unstake all 100 SPS and was charged 1.25% that would be 1.25 SPS I would be charged. If I did the same over a four week period (Total unstake 100 SPS/ 25 SPS Each Week) and was charged 1.25% for each 25 SPS unstaked that still equals to the same amount of SPS charged I quoted earlier, 1.25 SPS (there is no compounding going on).
If we are going to allow players immediate access to staked SPS we need to be charging allot more than 1.25%. (**) Most will use this service when SPS is pumping so if we are going to allow sale pressure to be added for traders who want to profit + take advantage of staking we should be charging a premium. The proposal does say the charged amount of SPS will get burned and SPS burns are surely welcomed. I would like to suggest a second possibility. Why not charge 6% on any SPS unstaked using this new "Quick Cashout" feature and burn 4% and send the other 2% to the @sps.dao treasury. This way we build more funds for the treasury + Burn SPS at the expense of those wanting to put sell pressure on the SPS token. Traders get to trade, the SPS Treasury financials grow and SPS gets burned, I don't see a down side. If someone thinks my interpretations of the 1.25% fee is incorrect I like to know why. It is possible I missed something but as it stands the proposal that is marketed as a 5% fee looks like a straight 1.25% fee to me. For this reason I have voted NO. If the fee was higher it would be an easy YES vote from me. I suggest you vote no as well, the sell pressure SPS will likely encounter won't be worth the burnt SPS. I usually don't vote as I'm indifferent to most proposals (Not voting is the best course of action if you are unsure/ indifferent to a proposal).
This is a two part post. The below has to do with adding ZING to the ZING/SWAP.HIVE Pool and is not Splinterlands related.
If you have been following along with my blog you will know that I created two or three posts about the upcoming play2earn Hive Blockchain game known as HOLOZING. Those posts outlined how to participate in the games on-going airdrop/claimdrops and also included links to the HOLZING whitepaper. If you would like to find out more info about HOLOZING or its airdrops/whitepaper you can visit my previous post that is titled HOLOZING: White Paper & Airdrop (ClaimDrop). Now lets move on to the juicy part. Currently the ZING/SWAP.HIVE pool located on the HIVE DEX's (TribalDEX and Others) is yielding 559% APR. This APR lowers as market conditions adjust and others enter the pool. There are multiple risks when joining a pool and I already went over some of them in my previous linked post (read it if you haven't and then do more research on Pools on top of that). So for that reason we won't go over the risks again but instead its time for RentMoney to enter the Pool. Due to the risks I'm doing so as safely as possible. What I did was first delegate some HIVE Tokens to the HOLOZING project (Delegation Profile: @zingtoken) which is one of the ways to participate in the ZING token airdrop. Yesterday I sold a portion of those airdropped ZING. Today I will use the profits + some of the remaining ZING that was dropped to me to place in the pool. Essentially I am freerolling as I didn't pay a cent or satoshi for any of the funds I am contributing to the pool. Am I late to the game (sure compared to some others). Am I hedgeing my bets to limit potential loss (absolutely, I always do and suggest you do the same). So lets get to it, entering the ZING/SWAP.HIVE Pool on BeeSwap.
My Trade Order
(Completed On Hive-Engine)
Upon trading I realized how lucky I was that my original trade order for my ZING tokens didn't go through. If the order filled I wouldn't be able to utilize my plan for the POOL (Trade portion of ZING drop to fund pool entry). After removing my 2000 ZING trade orders (Placed at 0.05 and 0.042) I decided to trade 500 ZING tokens for the trade value of of 0.037. This yielded me a gross amount of 18.5 HIVE. I will now use that HIVE to enter the ZING Pool. Lets see how many ZING I will need to supply to match my 18.5 HIVE entry point (Keep in mind equal amounts of each token needs to be provided to participate in a pool. Equal in the sense of USD/Fiat not tokens supplied).
ZING/SWAP.HIVE POOL
To paticipate in the ZING/SWAP.HIVE Pool I decided on BeeSwap as my Dex of choice. Other Hive Dex's have the same pools available to participate in (Ex. TribalDex). As the screenshot above shows the 18.5 HIVE (Traded for 18.5 Swap.Hive) needed to be accompanied by 515.158 ZING tokens. So we went ahead and did just that. It isn't a massive amount to contribute and I do intend on adding more sometime throughout the day using the same strategy I outlined above but its enough to get ones feet wet. Strategy Recap: Trade some airdropped ZING Tokens for HIVE/Swap.Hive and use that Swap.Hive and some remaining airdropped ZING tokens to participate in the pool. It's as easy as one, two, three; I'm now participating in the ZING/SWAP.HIVE Pool. The original announcement post for HOLOZING can be found by Clicking on this highlighted area. If my content interest you don't forget to smash that follow button. Doing so will put my content in your feed which makes it easier for you to find and enjoy. Upcoming Posts: Our FREE to enter HBD Raffle will be posted within 48 hours and we will be adding MEME Tokens as a prize on top of the HBD we hand out. Of course more Splinterlands content and other Play2Earn content will be on the long list of posts I have planned. That's if for now, I hope your day is great.
Trade Zing On Hive-Engine: https://hive-engine.com/trade/ZING
Zing Distribution
| Method | Daily | Monthly | Yearly |
|---|---|---|---|
| Hive Power Delegations | 200,000 | 6,000,000 | 73,000,000 |
| POSH Holdings | 40,000 | 1,200,000 | 14,600,000 |
| Liquidity Provider | 40,000 | 1,200,000 | 14,600,000 |
| Zing Staking | 20,000 | 600,000 | 7,300,000 |
Disclaimer: The @rentmoney blog is for entertainment purposes only and does not contain any financial advice. Always do your own research before investing/spending any of your hard earned currencies on any project/item or asset. In fact RentMoney routinely makes bad financial decisions and its best not to listen to his ramblings :)
Image Source: https://holozing.com/
Posted Using InLeo Alpha
I think it's bad too, that'll just drive the price of sps down even more
Sell pressure is certainly a possibility.
Exactly 🤦
Yup!
!PIZZA
I'm definitely going with a NO on this proposal aswell, at the current state it's just bad IMO, but if we get another proposal on the same topic of speeding up unstake process with some greater benefits to the ecosystem I could change my mind.
Also
I just started unstaking some ZING I have earned from HP delegations to put into LP pools.
Good, I hope more vote NO.
Congrats on your delegation earnings. Compounding dropped tokens/hive earned to the LP is a smart move IMO. Its a low risk investment or a freeroll as I like to call it. Thanks for supplying your input.
I like the concept but I voted no. I really think it should be 90% gets burned for DEC (which is what the SPS gets paid out in), and the other 10% gets burned at a fee for early withdrawal. Imagine every time some tries to quick withdraw to take profit on a pump, the SPS gets burned instead of sold. Meanwhile, a pump would usually mean things are going well, so if they knock DEC down, it would likely get picked up quickly due to the discount from peg.
Also, I just think they fee needs to be higher. 10% might give people pause if something bad happens and they think they can quick sell and buy back cheaper. It could stop price dumps. 5% to save a month in crypto is nothing. Price could drop 30-40% in a month.
To be honest, a 10% fee was the thought that came to my mind when finding out about the proposal. I was stunned after reading the proposal to see a 1.25% rate being discussed. A premium needs to be charged, I would even argue that 10% isn't all that high for such a feature.
I need to learn more about this
What aspect of the post do you want to learn more about?
If you let me know I can provide you with some links to more information.
I want to know more about the holozing game and does it have its frontend
HOLOZING Front-End: https://holozing.com/
Below is one of my previous post about HOLOZING. It has more information in it such as claimdrop/airdrop information and the whitepaper.
https://hive.blog/hive-167922/@rentmoney/holozing-white-paper-airdrop-claimdrop
I will go over this and give you feedback
I think holozing is very good especially when it comes to earning zing tokens where as hive delegation, posh keeping and ZING/SWAP.HIVE POOL.
Thanks for taking the time to read and comment.
!PIZZA
Thanks for sharing on X (Twitter).
!PIZZA
My pleasure
$PIZZA slices delivered:
@rentmoney(8/10) tipped @steven-patrick
rentmoney tipped junaidfazal
rentmoney tipped kawsar8035
We are seeing a lot of interest in this project, people are giving delegations and starting to do this now, so we will see it become more popular in the coming times.
Its looking promising :)
Hopefully we have another "Splinterlands" success story in the making.
Yeah hope so.