RE: SPS Governance Proposal - Price Riftwatchers Packs in DEC
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Right now I'm definitely against this proposal because it significantly devalues Riftwatchers packs and any players who bought Riftwatchers packs previously will feel like they are being "punished" since they paid a much higher price.
Right now with SPS = $0.0562326, the $5 Riftwatcher packs cost 1 voucher + 88.916 SPS (market value of $5).
Assuming that Riftwatcher packs will still be at $5 and DEC will be honored at peg value ($0.001) rather than current market value ($0.0005433), that means it will cost 5000 DEC which is just $2.7165 in terms of market value. That means buying Riftwatcher packs would be almost half off, which is a significant devaluation.
I might consider voting in favor of an amended proposal so that the price of Riftwatcher packs is increased so that the market value is $5 (so in this case it would be $9.20 in DEC, so maybe double the cost but make it require DEC instead of SPS).
To be transparent, I'm undecided. I'm trying to gather some perspectives from our community but I'm not seeing many reliable points of view that are focused on long term growth for the entire community. It makes it difficult to get an accurate vision of how each side of this proposal would look in the long run.
First, I don't think it's fair to do the math on current DEC prices. Sure, a small percentage of people might get a nice discount at the current prices, but it's a miniscule amount in the grand scheme of things since DEC prices are likely to rise closer to Par (probably within 10-15% is my guess). Have you ever seen the rental market spike, and a bunch of people start doing math at that current ROA to make the decision to buy a bunch of cards? Yeah, I'm pretty sure we can both agree that's a terrible way to view a non-static market. I think this is a similar situation.
Then, I'm seeing some people worried the RW card prices would decrease. I've never seen how the market moves through a pre-sale to sell-out so I'd really value your opinions on this. I was under the assumption that the pre-sale and early general sale is essentially overpriced and the prices would generally decrease as the early adopter phase is ending. Because of this assumption, I find it odd that the early adopters would be shocked/upset if RW would become cheaper with time while it is still in print. Like I said, I'm no expert on this, and I only have Chaos Legion and other card games cycles to go by. So if I'm wrong about that, please correct me. Either way, in my opinion, this proposal might make it actually beneficial to buy packs from Splinterlands ($4.50 if DEC gets 90% to par), rather than on HiveEngine ($4.5671780). I don't see that as a bad thing.
As I said earlier, I'm undecided. I see benefits and negatives to either side. I only write this response because I just want both sides to get a fair shake, with more accurate numbers and outcomes. What are your thoughts?