RE: DAO Proposal: Swap DAO BUSD and USDC/T For DEC

I'm sure you all know I am a huge fan of getting DECs to peg, but I'll have to vote no on this proposal as I don't think this is the right way to do it.

Among the many reasons others have listed, my biggest concern is: this proposal does not create a permanent and sustainable supply of funds going into burning/using DECs, this simply uses the DAO's funds as exit liquidity for users who are selling now.

I also agree with many other comments people have stated before me.

Edit: As a relatively large DEC holder, I can assure you I will sell it all and buy it back later at a cheaper price when the DAO runs out of funds. This proposal will only act as exit liquidity and a quick trading opportunity for users, this doesn't do anything to help the game in the long term!

Upvoted own comment for visibility

EDIT 2 (my thoughts copy pasted from my reply in Discord):
In response to the tags I got regarding this new proposal, I just wanted to expand a bit more on my opinion. For starters, I have already told a few people why I am against this proposal and it's mainly to do with exit liquidity. I don't want to use all of the DAO's stables as exit liquidity for people selling now.

Furthermore, I believe if this passes, we will see an instant increase in DEC price to near peg, then as the DAO starts buying people will sell into the DAO's buy pressure, essentially giving users the option to front run the DAO and forcing the DAO to buy at a higher price.

Another big issue is diversification. We currently have a nice portfolio of crypto (ETH/BTC/BNB) and stables along with SPS in the DAO's treasury. This is good. I would hate for the DAO to transition more and more into holding only Splinterlands assets. If this proposal passes, we are one step closer to using all the BTC and ETH to buy SPS which might be good in the short term, but adds literally no value in the long term.

The solution: after speaking with Yaba about why I am against this proposal, he came up with an idea I do approve of. Instead of using all of the DAO's stables to buy DEC at market price, simply only start buying when the price falls below a certain zone. For example, if the price falls below $0.0008 the DAO will start buying until it is above again. This safeguard should in itself be enough for the community to buy DECs near that price since there is limited risk (until the DAO runs out of funds). This creates value in stabilizing DECs without the DAO losing out on funds from a frontrun opportunity. The number doesn't have to be $0.0008

EDIT 3 (in response to why not let the DAO buy up cheap DECs now?):
I personally like to think about it this way, if DECs reach and stay at peg we are all winners, we don't need that little bit of extra money the DAO can make from buying DEC now.

However, in the worst case scenario the bear market gets worse and Splinterlands continue to bleed players, I would far prefer us to have a safety net in this case than the missed out gains in case DEC reaches and stays at peg again.

One example is the SPS airdrop. I love SPS and wanted to hold onto all my SPS, even at $1. However, against my better judgement at the time I sold every airdrop because I thought to myself even if SPS goes higher, I'd be happy even if I sold now since my other assets will appreciate anyway, my only risk is if it went down. I think we are at a similar time now with DECs, I truly believe it is guaranteed to go up to near peg but what if I'm wrong? I'd rather have a safety net in case I'm wrong than just throw everything into it and gain like 20% if I'm right