This is a SPS DAO proposal request from @lordbutterfly.
I have been considering for the last few weeks how we can get the Splinterlands DHF proposal to pass.
What I came up with is a mutually beneficial agreement for both sides with parameters set based on discussions between Hive and SPL stakeholders.
The goal was to find a common ground that would secure votes from the Hive side and secure DHF funding for the Splinterlands side.
What this proposal is not:
This proposal is not another chance for everybody to voice why they think the SPL DHF proposal should or should not be funded. We did that already. Remember?
What it lead to is the proposal being short of passing the return proposal and not getting funding while its slowly expiring.
You are all right and make amazing arguments. Splinterlands should get funding and Splinterlands shouldnt get funding..
So lets put that to rest. Anyone starting these arguments will get a nice little dunce cap in the comment section from me.
Youve been warned. 😉
What this proposal is:
This proposal presents a clear path to receiving the wanted funding while satisfying both sides in the equation.
The only question the SPL community voting on this SPL proposal needs to ask themselves is:
Do I want to get the DHF proposal funded or not.
The parameters below will not change nor will they be adjusted as they have been discussed in length to meet what those providing the Hive vote see as equal reciprocation. The parameters below were also proposed and agreed on by the other side as an amount that doesn't pose any significant risk to the SPL DAO as it is in most part simply a value transfer.
If this does not pass, anyone attempting to change the agreement is free to do so on their own while the DHF proposal is in the process of expiring.
Now is the chance for everyone to have a say if they agree with this or not.
THE PROPOSED AGREEMENT:
The SPL DAO will stake 1 million HIVE for a minimum of 24 months. (Unless there is some systemic danger for SPL and the funds are needed asap). Currently held HBD will not be used to buy the Hive. Only ETH from treasury and or USDT/USDC. The staking will happen over the course of 3 weeks to assure, the unlikely event of return proposal being raised again during that time, doesn't happen.
The Hive purchase price will be set at the market price in 2 weeks when the SPL DAO proposal finishes its approval process, at 1 mil HIVE bought if price is not higher than 25 cents. If Hive price is above 25 cents, the max purchase in USD terms will be 250000 USD. (two hundred and fifty thousand dollars)130k USDT or 130k USDC will be moved into the Hive stablecoin - HBD via Hive conversion. HBD has "basically" unlimited liquidity and this is a very easy step to take. There are no specific requests regarding this other than holding HBD instead of USDT in that amount. Spending it is ok.
SPL would add on all DHF related marketing spending on every promo material, video, graphic, (where possible) a small print "Powered by Hive" along with Hive branding in a visible place inside the game website. Size unspecified.
Full transparency on how the DHF received funds are used will be provided by the Splinterlands company.
Assurance the Splinterlands company will not request more funding from the DHF unless there is an agreement that this current marketing campaign is deemed as a success by the stakeholders providing their votes to SPL proposal in the amounts specified below.
The Splinterlands DHF proposal will be voted in the minimum amount of 4 million HP from Hive stakeholders. Add to this the 1 million purchased Hive by SPL DAO.
@cryptoeater, as the largest SPS stakeholder will provide trading and transfer services for bought Hive and HBD. The staked amount will be added to the @sps.dao account to follow the @steemmonsters account's governance voting and curation trails. The HBD will be bought by 3.5 day conversion from Hive.
In case the Splinterlands proposal is unvoted and is not receiving funding, the SPL DAO is only obligated to purchase/keep the percentage amount of Hive/HBD equal to the percentage of the HBD received from the date of this agreement commencing.
Why the Splinterlands stakeholders should support this proposal:
- Moving ETH from treasury into Hive and USDT into HBD is a value transfer. Treasury portfolio value stays exactly the same.
- Moving ETH into Hive stake provides 10% + 3.3% APR + the requested DHF proposal amount.
- Receiving the funds in the amount of circa 433k USD as is active currently in the DHF proposal.
- Closer integration with Hive and more say in both governance and DHF spending for the SPL community.
- Assurance that the proposal passes return proposal right away instead of hoping it might in the future, if it ever does, when the amount is far lower.
Why the Hive stakeholders should support the SPL DHF proposal if this SPL DAO proposal passes:
- Net negative financial effect for Hive becomes close to ZERO. At these prices 310k USD enters Hive. 430k HBD is paid out to Splinterlands. 1 million Hive is removed from circulation. 130k USDT buys Hive and converts into HBD reducing Hive inflation.
- This is the first and only time anyone has offered purchasing almost the equal $ value amount of Hive assets as they are requesting from the DHF.
NOT A SINGLE OTHER DHF PROPOSAL comes even close to this value, financially speaking, for Hive stakeholders. This sets a precedent and should be fully and entirely encouraged and supported in every way. - The SPL DHF proposal is close to passing as is. By refusing to vote if the SPL DAO proposal passes, Hive is put under great opportunity risk as no assurance of Hive/DHF purchase is made in that case.
- Added promotion for Hive through SPL marketing activities funded via DHF.
Final thoughts:
This is the middle ground where no one loses and we all win. Dont get me wrong. There is risk. There is always risk. We cannot anticipate the movement of the wider market going into the future but at this point in time, which is all that matters, this is a win-win situation for both sides.
.
.
.
If this all works out.. You all owe me a bear at Hivefest...
Oh you think it was a grammar mistake and I meant beer? No... Bears. Real ones. A lot of them. A whole flock of bears is what I want.
But if you cant find them, a beer will do.😉
Update 8/21/24
Update 8/21/24 to clarify the wording in previous update.
Update 8/21/24
This is reasonable and fair deal. I'll vote for it.
Thank you for your support!
I am appreciative of the whole Splinterlands community for this overwhelming positive response towards the proposal.
Overall, I believe this is a good way to foster relations between the Hive and Splinterlands community, because simply put we need each other to survive.
Some people (myself included at some point) believed the Hive community owed Splinterlands for simply existing on Hive, but the truth is both entities make each other better. Splinterlands would not exist if it wasn't for Hive, and the witnesses that actively confirm blocks. Hive would likely have a much smaller community without Splinterlands.
This is clearly a mutually beneficial relationship so I personally see no issue with the SPS DAO having more exposure to the performance of Hive, thus aligning incentives more closely.
Notes:
Thanks for the time to work all this out @lordbutterfly. I will vote for it and appreciate your efforts to find a good solution.
I hope others share your sentiment.
Your time & energy sacrifice mediating this issue is greatly appreciated 🙏
A solid plan. You'll have my support.
Good luck to everyone.
Great work @lordbutterfly.
This is all completely reasonable on all sides. I have faith that the efforts of folks such as yourself and the others who’ve been putting in time & efforts to bring attention to this…will see it bear fruit. VoNaK homie!
Thank you for your work on this. It has my vote.
I am not a fan of this mentality. If a proposal doesn’t pass the return, that means it was voted to not pass.
Encouraging removing votes from the return to get it to pass is tearing apart the governance to squeeze something in without the proper amount of votes while allowing other proposals that also failed to get carried in with it.
This mentality is not healthy to the Hive ecosystem.
Thats why it says:
"in cases where low quality projects would not be getting funding due to such unvoting of the return proposal."
This applies only to the set few agreeing to this.
So if those agreeing to this deem unvoting the return proposal as harming the system they reserve the right not to unvote the return.
The proper amount of votes is 1 more vote than the return proposal.
This solution works well and represents a reasonable compromise. Thanks to everyone involved in creating it.
Would I prefer not to have that condition attached? Absolutely. However, I'm not opposed to staking Hive. Currently, our ETH is just sitting idle, not generating any yield or benefits. By staking Hive, we gain some governance power and a small yield, including curation rewards.
I've just sent over my bear. He and I are both on board.
Wow, thanks a lot for putting this up and bringing everybody together for this compromise. I can't begin to imagine how many hours of your live where poured into this - getting everybody's opinion, finding the middle ground everybody would agree to, that's a lot of work!
I'm hopeful we can pass this and have an agreement that helps both ecosystems to thrive because of it.
It's about time that a great game on a great blockchain and that blockchain started supporting and helping each other, so this is a really good move.
!PIMP
Brilliant proposal, got my vote
👍
don't forget to get rid of your red dot quickly!
😂. done!
Love this solution! It has my support.
I think this is an extremely well crafted proposition. Congrats to all involved.
Voting yes with my bully 17,000 SPS. ^_^
I am for this, I will be voting for it.
Always happy when I see someone finding a compromise instead of insisting on a side. Thank you!
Its never an easy thing.
Seems reasonable to me, I hope this achieves funding.
I don’t think they allow bears on planes. You might need to source it locally.
yeah they still allow them, just costly 😆
I have no idea why my post receives a downvote from you. Will not ask for you to remove it, I just want to know if there was reason behind it cause I believe I put more effort in creating my post compared to many of my pears due to the following reasons:
It was simple editing but I have created all my thumbnails, dividers and footers and properly sourced my images.
Multiple markdowns were used to make it as reader friendly as possible on hive.blog, peakd, ecency and inleo.
Contains 1.3k words that is written by me.
The battle I post was manually played by me and is on modern league were bots are banned so both my battle and my post was created with pure human output.
Uses #hive hastag whenever I post it to web2 platforms, just like my previous post, in an attempt to increase visibility to hive.
It was not a life-changing amount but it was discouraging for me as a creator that my post getting downvoted but if it was made as criticism on my content, will use it to improve its quality. I hope you do not take it personal.
regards.
If I vote for the SPL DHF proposal at any point, that is not an indication of myself agreeing to any of the terms presented here: https://peakd.com/spsproposal/@clayboyn/sps-governance-proposal-dhf-agreement
Ofc not. This is certain stakeholder specific.
There's some other words here I don't like, and I want to make it clear any decision I make has nothing to do with this. And that's where I'm leaving it. Nobody here wants to read another goddamn nonames essay lol
What's presented here and the results later don't have any impact on whether I say yes, no, maybe, maybe not. Everyone else is free to have their fun.
Will be updated soon to be more specific.
My vote is only worth 91k HP and some change. It's not a big deal. And my opinions are worthless on this matter.
I'll just say this. I've decided to go ahead and vote for the SPL DHF proposal. But not because I'm wowed by the potential of shiny trinkets. SPL can't buy my support. I don't play the game and I want nothing to do with it. All these money moves; I won't feel those ripples. That's a drop in the ocean. I'm putting eight wasted years of my life into pushing a button to support what appears to be a mess. So I guess SPL and I got something in common. But doing this does nothing for me. Enjoy.
I was on board with this until this section
"130k USDT or 130k USDC will be moved into the Hive stablecoin - HBD via Hive conversion. HBD has "basically" unlimited liquidity and this is a very easy step to take. There are no specific requests regarding this other than holding HBD instead of USDT in that amount. Spending it is ok."
Too much A$$ kissing and I trust USDT and USDC more then I trust HBD to hold it's peg value. Thus it's too much of a risk. I don't get why this was thrown into the mix it makes no sense.
The other negative to this is we are "buying" our votes which is a little weird and there's no guarantee that the proposal would hold funding. Someone could easily remove their vote from SPL and put it on the return proposal so we are doing ALL of this buying of an asset that doesn't believe in supporting one of their most popular apps.
This also doesn't address the core issues with the proposal and that was mainly people seeing no clear plan with the "marketing" marketing proposals have never done well and this proposal would have been better IMO if it was focused on how we are integrating onboarding to hive as well from the players coming into the ecosystem. Because lets be honest a lot of players don't blog, thread or anything like that they most likely don't really know they have a hive account. They can primarily do everything they need to via Binance, pancake swap, wax or internal of the game and never touch hive.
HBD conversions gets you always 1 USD worth of Hive.
You trust a centralized entity thats behind USDT more than the decentralized blockchain you personally own?
I mean, to me it seems like a no-brainer that reserve is held in HBD. Or have we stopped caring about this stuff.
Staked Hive has no belief system, its not an entity, its not human, its not anything at all.
The proposal has 29million HP voting and is short a tiny amount. Hivers exist and you cannot say they dont care about Splinterlands precisely because so many voted.
You can point fingers at certain whales and name them easily that wont support it. But you cant point your finger at Hive.
I know I don't make a difference but I'm voting against this.
Do I want the DHF proposal to get funded? Of course, I do! But not like this. I won't even compare this to other proposals that have passed and didn't have to do anything.
In order to get $500k (which is way less now and by the time this passes and it finally starts paying it will likely be just $400k), we have to spend likely over $180k (including fees) in ETH and stablecoins to buy a coin that hasn't been this low since early 2021? ETH is regarded by most as the second best cryptocurrency. Some even consider it better than bitcoin. Sure, ETH is down from 2 recent highs this year but it is still up from the start of the year. Hive has lost about 50% since the beginning of the year! This transaction alone has the potential of costing the Splinterlands ecosystem more than the $400k that are going to be received. I believe it would be better to have the DAO provide the fund directly to the Splinterlands team, when needed, using mostly stablecoins, or ETH if we found a good opportunity.
Matt asked for $500k because that's what he needed. With this, he gets close to $400k. That's not a small difference. What if that is not enough for what he wants to do?
And why are we moving from one stablecoin to another? Honestly, HBD presents a lot of risks. We all know what happened to a supposed algorithmic stablecoin. We're also going all in on hive, increasing the risk by not being diversified.
I believe this is a mistake and we'll end up losing money. I can see that most SPS whales support it and it's going to pass. With that in mind, I do see an upside in the DAO having more Hive and powering up, as long as it is used well. I sincerely hope that the DAO will actively vote for all posts on Splinterlands (as long as they aren't spam or anything bad) and only vote for posts on Splinterlands. At least, this way, some of the lost value will go back to Splinterlands players.
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STOPCheck out our last posts:
I believe this proposal means we are leaning on our knees for HIVE to help us. We already did enough. Let's be proud of ourselves sometimes. And have some dignity.
And here come the guys that think SPL doesnt deserve to get funded. They will make their own arguments and you can argue all day long.
The matter of the fact is that the proposal is not funded. I found a way to get it funded. Here it is. Take it as you wish.
Thank you for participating in SPS DAO Governance @clayboyn!
You can place or monitor SPS Stake Weighted votes for and against this proposal at the link below:
Link to this Pre-Proposal
Updated At: 2024-08-22 01:14 UTC
I like it, but the part of this written before "THE PROPOSED AGREEMENT" seems petty, unprofessional, and unneeded.
But I think, unless someone puts up good arguments, this is easy to support.
I am not sure if something like this would be clarity, just so it is not open to interpretation, if I has a large hive holder, that would be the part that concerned me?
"(Unless there is some systemic danger for SPL and the funds are needed asap)"
I always thought we should have asked for more but offered more of a commitment too, but I like this.
Oh yes my friend. It was absolutely needed. ;)
The conflict of whether SPL deserves funding or not is a waste of time, we have to leave that aside and continue pushing towards a healthy relationship of both parties, the reality of this, is that both benefit from each other and whoever thinks otherwise to this knows nothing, besides conflict does not solve anything, we have to rather solve problems with ideas like the one proposed by @lordbutterfly, so, let's support, everyone wins at this point.
It is obvious that I will support this, in good time, both "Hive and Splinterlands" have to grow in this bull market that is coming hard as the strong hands accumulate, so, let's go all in.
It's so worthwhile .I am your proponent
We are for it! Votes incoming!
Excellent job! F.I.R.E. SQUAD Supports this proposal
I feel like I've missed out on something. What is the DHF proposal? I didn't get anything from "This proposal presents a clear path to receiving the wanted funding while satisfying both sides in the equation."
When the initial proposal for financing was presented, I received a downvote for expressing my opinion, which at the time was favorable and supportive of what was requested, meaning I agree with the financing. But as I thought at that moment, Splinterlands would certainly have a better performance in another chain, which is a window of opportunity for those developing the project, not only with this project, but with the wide possibility of creation based on what already exists. exists, then I am punished. Who understands.
Yes, I vote in favor of the agreement.
This I can vote
Wish we could lose all the HBD instead of USDT , but fair... need to be considerate about everything.
Looters vs Looters, thrilling