RE: SPS Governance Proposal - Allocate 20M SPS from DAO Treasury for Exchange Listings
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I love the fact that Blockchain Founders Fund has invested in Splinterlands and generally want to support you guys in order to support us. But I have a lot of issues with this proposal, and without any more information, I will have to vote NO for it.
Here are a few of my issues:
First and foremost, 20 million SPS tokens are a HUGE amount to spend on any marketing project. That is $600,000 at these prices, and like most people, I feel that SPS is super under-valued. So at even at a still very low price of $0.10 we are talking about $2 million for a marketing idea.
Second, the proposal is very vague about what this massive amount of money will go for. How much will go to simply pay off the listing exchange versus how much would go for providing liquidity and other such things. We are essentially voting to give a blank check. In my life, I never would authorize a purchase of this significance with such little information.
Third, its a horrible time to spend money on marketing the project. Right now we are in the midst of a bear market and this bear market has exposed quite a few problems with the game. These issues need to be fixed before any additional players will be retained. Getting the players to show up is fine, but if we can't keep them once they get here then its a big waste of money. In fact we are suffering from this issue right now after the initial SPS rush and retreat.
Fourth, as a long term holder of the token and a asset holder for 5 years, I have no interest in "buying investors' interest in our token" for the purpose of pumping up the price. I don't like the model of creating hype to create interest in the game, and since I wouldn't plan on being a seller this looks like a waste of money to get people interested.
If this was a nominal $10,000 investment to take a shot, then I could understand and may be more receptive. But its not, its a significant amount of our SPS that we will need to sustain the game for years after this type of pump has worn off.
Like I said in the beginning, this is no disrespect to you and I hate to be negative when I admire that you are here supporting us with your investment.
Horrible time to be spending money to list a token in centralized exchanges. If we ever list, I like to do it for free.
I 100% agree AZ!
Blank check of 20M SPS! I think not!
It's not a blank check . If the listing doesn't happen none of the money will be spent. Bff is not taking any fees
Great time more like, to help with selling pressure, giving more people easy access to buy the token is promising and will only boost the value of SPS and the return on investment from the money used to register on major exchanges will quickly be recouped - we have to take these risks to become more of a global force, give more people access to buy it, and the value of SPS will rise, benefiting all the stakers
20 M SPS is 0.667% of Max SPS supply & only 20M out of 300M that is getting unlocked in DAO. Not adding SPS coming through RW and Node sales or any other means in future. It could be worth allocating especially if good volumes come and absorb the pressure. With around 1B SPS issued including staked amount, 20M is decent allocation.
I 100% agree, voting for a blank check, err.... no!