The same reasons that led me to vote against the proposal when it was originally proposed still stand valid, and even more so.
It's changing the terms of an ongoing sale, after it was promised by the team it would never price RW in DEC - in a TH when directly asked about it in the Q&A before the pre sale. While it is not unilaterally doing it, the initiave is coming from there;
It intentionally devalues an asset;
While everyone likes to buy things cheap, these kinds of 'discounts' are one of the main reasons for people to not buy packs at their normal or pre sale prices. One thing is to offer a discount in a pre sale, another thing altogether is this;
Many originally stated when rejecting the first iteration of this proposal, that maybe it could be more agreeable to price it for $5 in DEC at market price (instead of PEG value). This would also lock the DEC in the DAO, achieving the same effect or maybe even better effect (people believe DEC has a lot less upside so are more willing to part from it even if not at PEG);
++No new argument was made in order to support this proposal++.
And a somewhat new one:
- Every attempt made for DEC to peg failed so far, and some had, at least in theory, a far greater chance to help us get there than one expects for RW.
And as a final note, I believe most of us want and believe it is important to get DEC to PEG, but not at all costs. Any measure taken to so has to have strong foundations and this one seems to lack them, as well as it needs to lack better alternatives which exist (DEC market price/stake on land/unlock soulbounds/cosmetics/remove burn from gladius/etc...).
Yaba is a member of the DAO, it's really irrelevant that he's also a team member. He sees something that he thinks should be changed to improve the economy.
It goes both ways, it devalues GEM packs and by extension RW cards, but that value is put into DEC, and by extension SPS.
The main reason to not buy packs is because the market is already oversaturated with cards. The original sale of these card packs was close to 10 months ago, sales have stagnated, lowering the price by 20-25% (current DEC value) seems reasonable. Another logical option is to start burning off the oversupply.
Agreed, this is a good option.
Time, it's not a new release anymore, people who bought the presale or regular sale have had many months to use and get value from their cards. Changing the price now is a lot more reasonable than it was at the time this was first proposed.
This will certainly not make DEC to peg, and doesn't claim that it will.
I would tend to disagree with this...
True we aren't at Peg. But DEC was at 55% of Peg when this was proposed 7 months ago. Each attempt has closed the gap more. We are whittling it down, but there is still too much DEC out there, so there is more work to do. Land 1.5 will be a big event, but then it will be relatively static, so we need to think beyond Land 1.5, because we need as many ongoing sinks as possible - and Land 2.0 is a long ways away still.
I think everyone underestimated how big of a job it was going to be to remove all that excess DEC liquidity. But we are getting there. Let's keep at it.