DAO Sponsored Proposal
Genesis League Sports Dao (@gls.dao) recently passed a proposal to issue LP rewards for it's tokens via Hive Engine / Tribaldex. It passed two liquidity pairs with splinterlands tokens as a utilty for splinterlands tokens but to also bridge both ecosystems with enhanced liquidity. Following rewards were allocated to the pool pairs:
- SPS:GLX with 2,500,000 GLX (2.5%) in rewards.
- DEC:GLUSD with 2,500,000 GLX (2.5%) in rewards.
Similarly, on launch of Arcade Colony Dao (@ac1.dao) liquidity pairs with SPS and DEC were allocated rewards as follows:
- SCRIPT:DEC with 2,500,000 COLONY (2.5%) in rewards per year.
- COLONY:SPS with 2,500,000 COLONY (2.5%) in rewards per year.
These rewards are already live via Tribaldex Distribution Contracts for next two years and any user providing liquity to these pairs will be getting GLX or COLONY rewards for those pairs.
Proposal Request
To further enhance liquidity among both platforms and bring more utility to DEC and SPS tokens, we request @sps.dao to provide SPS rewards for those LP pairs as follows:
- SPS:GLX with 2,500,000 SPS in rewards.
- DEC:GLUSD with 2,500,000 SPS in rewards.
- SCRIPT:DEC with 2,500,000 SPS in rewards.
- COLONY:SPS with 2,500,000 SPS in rewards.
This SPS amount is for 2 years as per distribution contracts for each pool. This means roughly ~104K SPS will be allocated for each of above mentioned pool per month.
Benefits
This proposal offers following benefits:
- Enhanced Liquidity for both ecosystems
- More token utility through staking in LPs
@gls.dao had a GLX airdrop that lasted 1 year for SPS staking. It's also offering LP rewards for DEC and SPS pairs as mentioned earlier.
Similary, @ac1.dao will also airdrop COLONY token to SPS stakers that is suppoed to go live in April. It's also, offering LP rewards for DEC and SPS pairs.
Apart from that, we are working on accepting splinterlands tokens as payments for credits on both GLS and AC platform, to enhance use case for both DEC and SPS.
Implementation
This doesn;t require any dev work from @splinterlands team. Once apporved, @sps.dao can bridge required tokens from sps to hive engine bridge and deposit SPS tokens to distribution contracts (https://tribaldex.com/distribution) for pairs and sps rewards will go live automatically.
About Genesis League Sports
The Genesis League Sports (https://genesisleaguesports.com/) platform will consist of many different individual games from a variety of different sports. The hope is that many of the games will be built in partnership with major sports leagues worldwide, but ultimately the platform is open to any type of game that the community of GLX token holders wants, even including fictional sports games. Additionally, the platform may have multiple different games for the same sport, as well as various types of game modes or gameplay experiences.
Genesis League Goals (https://goals.genesisleaguesports.com/) is the first game on GLS platform and here is what we are cooking for Goals Season 2.
About Arcade Colony
Arcade Colony (https://www.arcadecolony.com/) is a web-based platform where mainstream games can deploy web3 features. Newly created games as well as previously released games can now add tokens, digital collectibles, trading, renting, earning, and governance to their games. Thus, Arcade Colony hosts a series of published games similar to the Epic Gamestore, Apple App Store, Google Playstore, or Steam, but unlike web2 publishers Arcade Colony augments new and existing games into Web3 games.
Moonkarts will be first game on Arcade Colony platform & is supposed to go live in next few months. You can read more about it in whitepaper (https://moonkarts.gitbook.io/moonkarts-tm).
I will be voting no on this proposal for the following reasons:
I would also like to point out a few flaws in the "benefits":
Overall, this is not a good deal for the Splinterlands ecosystem.
No from me as well.
For now.
We are actively trying to cut SPS inflation. Clay is leading the effort.
Agreed the last thing we need is more milking and this is milking even more since Colony was airdropped it's just going to bleed the system more right now. We need VALUE added not constant airdrops and we need a damn game 😂
This can be upto debate on how much rewards should be allocated.
Teams are now purely separate as invennium is now a separate entity fully owned by splinterlands.
In short term yes, but as more games are onboarded onto these platforms they could serve well for splinterlands ecosystem.
To your first point amount can be updated to a feasible number. Also deacresing inflation doesn;t always result in price appreciation but it's the product demand which need to grow. Right now the demand for SPS is at full peak because of no new money/users coming in. That might not be the case in future.
The pools benefit both ecosystems equally as the pairs are 50:50. It's upto debate how much should be the SPS amount allocated. These pools already locked DEC and SPS, and are also serving for users who want to participate in both projects with long horizon.
Thank you for the your feedback and suggestion. I'm excited on what we are building and let's hope for the best on what these ecosystems can do. We will just have to wait and see.
I have zero interest in sucking value out of the SPL to serve two 'distraction' projects I could care less about, and am pessimistic regarding their viability.
Nope - i dont think i gonna hold assets/tokens in those project in the near futurs except my biggest mistake the gls investment... i dont see a benefit. deliver a fun and working product with huge marketing and then we can try again.
Bad timing as the community is trying to cut down on inflation.
Where is this SPS inflation coming from?
It can come from the already allocated SPS pool for LP rewards or DAO can just put the SPS amount it holds from DAO holdings that are awarded each month. In the end it comes from teh 3B allocated supply that is in excess and not in use.
But the community was trying to reduce the inflation, right? Why they would vote for 10 Million more?
adding liquidity to benefit others will not increase SPS value. it will not pull in new players as only crypto traders will notice the liquidity, not the normal masses. they should've use marketing strategy that will make non crypto enthusiast/gamers play the game and invest in spellbook. I know that there is an ongoing NEW PLAYER EXPERIENCE, but if only crypto enthusiast/gamers would notice it, it won't make a big difference.
There is no need to pay even more rewards for Liquidity Pools that already have incentives for them. I can support SPS rewards for a new LP that will be a part of the ecosystem. The value of 2.5 million SPS is much larger than that of GLX or COLONY. This is another factor to consider. I like the overall idea; not this specific implementation.
PS: Thank you for the news on Goals Season 2. It looks far better than we have right now. I missed out on the recent news of @gls.goals.
hard no
for a dozen different reasons
but the most important one is that the last thing ANY of these ecosystems need is to be more closly together then they already are.
98% of SPL/AC/GLS community are the same people.
We´ve been told with both AC and GLS that it will bring in new people and thus at the end the dillution in value / market cap by having 3 projects share basically the same audience is worth it.
those systems need to be less interacting and not more interacting with each other if this entire shit show is supposed to become relevant again on the overall crypto market.
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STOPThis is never gonna happen.