RE: SPS Governance Proposal: Special Promotional Sale for Riftwatcher Packs
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Possibly upwards of 190 million SPS to be stacked by the DAO, as mentioned above over 1/6 the current total float of SPS publicly issued to be owned by the DAO. Upwards of almost 6% of all SPS to ever be produced through this promotion to be taken in to the DAO Treasury, to help ensure additional ongoing viability for the DAO following the SPS in game reward airdrop.
Seems quite a small sacrifice for a single set that no one in the DAO voted for cards to be printed. I realize there is a major incentive to burn these cards if you own them so you can see a slight uptick in their value, while ignoring a massive opportunity for the DAO and those that stake SPS.
This is a major problem and why we are in the situation we are in. If this were in an in game set it makes much more sense to simply burn them and move on since the game is expected to come up with a new set roughly every year.
It's unfortunate you don't see the value of the DAO taking in such a massive amount of SPS WHILE BUYING LOW. If you think SPS will always be 2 cents or lower we are sadly in a spiral that will be virtually impossible to recover from.
As stated in my first comment I think the idea is great @cryptkeeper17, I also see a big benefit in the DAO banking as much SPS as possible.
However, as per my first comment, it is not the right time for this proposal. If this would have been proposed during RW priced in SPS it would have been a great idea but not with the last major changes to RW distribution by matt.
It's being done in conjunction and changing nothing on the schedule that is currently active, other than the packs possibly selling out and the DAO taking in a massive amount of liquid SPS. Respectfully disagree--I hope you like the expeditious release of the next promo set the company will dump upon us--it's going to cost the DAO as a lost opportunity of upwards of 190 million SPS.