Same, honestly I don't understand why he keeps insisting on mixing a higher fee with the burn/dao in the same proposal. This proposal would pass easily with 95%+ votes if it didn't increase the fee for no real good reason. If you are cutting the value of every single asset in the game (besides tokens) by 1%, everyone loses 1% of their account value... All for the sake of what? Getting DEC to peg? Unless the game dies that will inevitably happen, people need to stop trying to force the PEG on a bear market, it doesn't matter as much now anyway.
I even believe that was the main issue with previous proposal, not the DAO getting the DEC, just the fee increase. I'd actually prefer the DAO to get the fee so we can fund it through other means instead of just burning it to "artificially" try to increase token value.
I'd rather keep the 5% fee as it is but instead vote to change it up where the company only gets 4% now instead of 5% and 1% goes back into the game some how. Via a buy SPS and burn it or buy SPS and give it back to stakes. Something... With the drastic increase in trading volume and land coming that will have even more fees it seems like a reasonable request. I think the major disconnect here is not talking one on one with the core team aka company that collects that 5% fee right now.
I see that you also play tournaments, you are aware that Splinterlands will get only 4% fee (instead of 5% now) in the future and as they told that the tournament-prices are set with the fees we can expect that tournament-prices will be reduced in the future.
Splinterlands has an allocation of SPS in the whitepaper dedicated to tournaments roughly worth $35k per month at the current SPS price (after accounting for the 1% per month reduction in inflation). Looking at past tournaments, it seems they gave under $40k over the past 30 days, which makes sense give SPS was a lot higher 30 days ago. Therefore, looking at the tournament payouts it does not seem like market fees subsidize the tournament prizes much, or even at all.
I respect your right to discuss this proposal with the community but I would appreciate you not spreading misinformation.
Sorry but I would ask you to stop telling that I spread misinformation. I don't know if it was some change, but when you read here (I think it is official announcement of splinterlands isn't it?):
than you see that it was at least in this way before, maybe now they changed it.
But if you asked me to don't spread misinformation I would like to ask you to do the same and don't speak about leaderboard-prices from a negligible amount of DEC, as they are more than 7.2 million DEC every season (even not calculating when player share a place and the higher amount is payed out to all players) - this is really not negligible if I see the aim of your proposal.
You are right, prior to SPS it was mostly funded by market fees, but I don't believe it has been for a couple years.
I admit I was wrong to say the season rewards were negligible, I had not done the calculations. Although it is a fair chunk, it is not scalable as the game grows, it's a flat 7.2million per season. This proposal is not the same thing.
As I mentioned in an earlier comment, this will need to be replaced by something and where would this new amount come from?
Roughly 500k SPS (from the free 2.25 million SPS) would be enough to replace all leaderboard-prices with an equal amount of SPS on base of the actual rate from roughly 30 DEC = 1 SPS.
Honestly, this is very good research, I didn't even know we had unallocated LP rewards. However, I don't believe reducing DEC supply by minting more SPS is the way to go. The point of burning DEC is to get to burning SPS faster. If we increase SPS emissions to reach burning DECs faster, that mildly defeats the purpose. If you believe in this cause I suggest writing up your own proposal.
Back to discussing about this proposal, I believe the backbone of this game is the play to earn component, and that is mostly derived from SPS value since reward cards are now soulbound. One way to sustain SPS value is by reducing the oversupply of DECs, which will eventually result in the burning of SPS. This proposal will mainly hurt sellers and renters in the short term by a 1.05% reduced revenue, but in the long term I strongly believe it will help every aspect of the ecosystem immensely.
Hello, thank you for your view.
Maybe I would write my own proposal(s) when I could this for free, but as long as it take 100k DEC I will surely write no proposal.
IMO this fee is not fair, I could maybe live with a fee when the proposal is declined but it miss me the understanding why I should pay this fee when I submit a good proposal who is accepted by the community.
Also Splinterlands can - as far as I know - submit proposal for free, so why I should pay 100k DEC ?
Same, honestly I don't understand why he keeps insisting on mixing a higher fee with the burn/dao in the same proposal. This proposal would pass easily with 95%+ votes if it didn't increase the fee for no real good reason. If you are cutting the value of every single asset in the game (besides tokens) by 1%, everyone loses 1% of their account value... All for the sake of what? Getting DEC to peg? Unless the game dies that will inevitably happen, people need to stop trying to force the PEG on a bear market, it doesn't matter as much now anyway.
I even believe that was the main issue with previous proposal, not the DAO getting the DEC, just the fee increase. I'd actually prefer the DAO to get the fee so we can fund it through other means instead of just burning it to "artificially" try to increase token value.
I'd rather keep the 5% fee as it is but instead vote to change it up where the company only gets 4% now instead of 5% and 1% goes back into the game some how. Via a buy SPS and burn it or buy SPS and give it back to stakes. Something... With the drastic increase in trading volume and land coming that will have even more fees it seems like a reasonable request. I think the major disconnect here is not talking one on one with the core team aka company that collects that 5% fee right now.
I think you have misunderstood how the fees work, please refer to @flauwy's comment in your other post.
I see that you also play tournaments, you are aware that Splinterlands will get only 4% fee (instead of 5% now) in the future and as they told that the tournament-prices are set with the fees we can expect that tournament-prices will be reduced in the future.
Splinterlands has an allocation of SPS in the whitepaper dedicated to tournaments roughly worth $35k per month at the current SPS price (after accounting for the 1% per month reduction in inflation). Looking at past tournaments, it seems they gave under $40k over the past 30 days, which makes sense give SPS was a lot higher 30 days ago. Therefore, looking at the tournament payouts it does not seem like market fees subsidize the tournament prizes much, or even at all.
I respect your right to discuss this proposal with the community but I would appreciate you not spreading misinformation.
Sorry but I would ask you to stop telling that I spread misinformation. I don't know if it was some change, but when you read here (I think it is official announcement of splinterlands isn't it?):
than you see that it was at least in this way before, maybe now they changed it.
But if you asked me to don't spread misinformation I would like to ask you to do the same and don't speak about leaderboard-prices from a negligible amount of DEC, as they are more than 7.2 million DEC every season (even not calculating when player share a place and the higher amount is payed out to all players) - this is really not negligible if I see the aim of your proposal.
You are right, prior to SPS it was mostly funded by market fees, but I don't believe it has been for a couple years.
I admit I was wrong to say the season rewards were negligible, I had not done the calculations. Although it is a fair chunk, it is not scalable as the game grows, it's a flat 7.2million per season. This proposal is not the same thing.
As I mentioned in an earlier comment, this will need to be replaced by something and where would this new amount come from?
As I mentioned in an earlier comment from the free SPS who aren't used for the liquidy pools.
In this document stand 7.5 million SPS but only 5.25 million SPS seems to be allocated:
https://docs.splinterlands.com/splintershards-sps/providing-liquidity-sps
Roughly 500k SPS (from the free 2.25 million SPS) would be enough to replace all leaderboard-prices with an equal amount of SPS on base of the actual rate from roughly 30 DEC = 1 SPS.
Honestly, this is very good research, I didn't even know we had unallocated LP rewards. However, I don't believe reducing DEC supply by minting more SPS is the way to go. The point of burning DEC is to get to burning SPS faster. If we increase SPS emissions to reach burning DECs faster, that mildly defeats the purpose. If you believe in this cause I suggest writing up your own proposal.
Back to discussing about this proposal, I believe the backbone of this game is the play to earn component, and that is mostly derived from SPS value since reward cards are now soulbound. One way to sustain SPS value is by reducing the oversupply of DECs, which will eventually result in the burning of SPS. This proposal will mainly hurt sellers and renters in the short term by a 1.05% reduced revenue, but in the long term I strongly believe it will help every aspect of the ecosystem immensely.
Hello, thank you for your view.
Maybe I would write my own proposal(s) when I could this for free, but as long as it take 100k DEC I will surely write no proposal.
IMO this fee is not fair, I could maybe live with a fee when the proposal is declined but it miss me the understanding why I should pay this fee when I submit a good proposal who is accepted by the community.
Also Splinterlands can - as far as I know - submit proposal for free, so why I should pay 100k DEC ?
3 month later I really see your success:
