DAO To Pay or Not to Pay SPS for Top Exchange Listings?
A pre-proposal is about to expire in a few hours where 20m SPS are requested from the DAO to fund exchange listings for SPS (possibly only on one major exchange).
The pre-proposal was failing yesterday in a major way and is on the verge of passing now:
Blockchain Founders Fund (BFF) put out this pre-proposal, and many commenters remarked the lack of details about the usage of the funds, answers to questions asked, as well as knowledge about who BFF was.
Apparently, the person behind BFF is long-time involved in Splinterlands both as an investor in the game as well as an advisor, Board member of the Splinterlands company, etc.
He was presented (seemed in a haste based on how the vote was going) during the last town hall, toward the beginning.
Whether that presence in the town hall has influenced the last hours' votes or not, I can't say. They certainly moved a lot, while many whales who voted 'no' remained in position.
The main takeaways from the conversation they had in the town hall, as far as I can relate it from memory:
- major exchanges won't list without a fee (or more than one)
- there are non-disclosure agreements that prevent them to make details public in a post requesting the DAO vote, including how much where it goes
- if DAO doesn't fund exchange listings, nobody will (Splinterlands, the company, is not allowed to have any links to the Foundation)
- fees are cheaper before the bull market starts and grow exponentially during the bull market
- SPS will likely be dumped by the exchanges after they receive it (this wasn't phrased like this, but this is the idea - they can do whatever they want with the SPS - if anyone is hopeful, maybe they'll hold instead of selling)
The question is: is it worth a big chunk of the DAO funds to get listings on one major exchange, possibly with a few extra smaller ones? Is it worth the likely situation of the SPS paid being dumped?
I haven't voted either way. Yes, centralized exchange listings may still help to improve adoption, but it's a tradeoff, and voting either way needs to take into consideration all aspects.
I wouldn't worry about this pre-proposal passing. If it does, it has to be posted as a DAO proposal and go through a vote again. That's the real vote that will matter (unless the pre-proposal fails).
There seems to be many proposals lately. Perhaps there should be some limit to how many per month/quarter.
There is a limit: 100k DEC burned per pre-proposal. This may not be an important amount for a whale, but for anyone else, it is. And 10 pre-preproposals is 1 mil DEC, which is not ignorable for whales either, especially if they are rejected.
Thats good to know. I am just having Proposal fatigue! lol
I haven't looked at all pre-proposals either. But DAO proposals are important because they can change things. And even if you can't have a huge influence on the outcome, it's best to be informed.
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No. End of the day exchanges will look at volume of a token, or it will eventually get delisted.
We also don’t want pump and dump and manipulation by whales easily.
At the current state it is just asking for trouble.
It depends on how much liquidity would be added to such an exchange.
Oh, I didn't even realize there was a pre-proposal. With HE out there, I don't think we need top exchange listing that much but it could also work as good marketing. It might be cheaper to get on now when we are in a bear market but I don't know.
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Well, the pre-proposal failed. Looks like some whales didn't like the attempt to pass the pre-proposal at the last minute (even if that meant another vote as a DAO proposal).
Interesting sharing! Didn't know about pre-proposals before this!
They've been around for some time. Same rules as for DAO proposals, but it works with upvotes/downvotes on the post from SPS stakeholders. A 'no' on a pre-proposal means no to make a DAO proposal on it, yes means a DAO proposal should be made for that topic.