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.
I purchased 2015 packs in the Riftwatchers pre-sale, and opened them all. I still didn't get everything I needed to max everything, and I'd technically need to buy more packs to get everything maxed out, (in reference to future airdrops) even though, mathematically speaking, those 2015 packs were more than enough to max out everything in the collection.
Now, onto the claimed numbers for this proposal.
Possibly upwards of 190 million SPS to be stacked by the DAO,
There is no logical way in which that almost 43% of all liquid SPS will be used to purchase the remaining Riftwatcher packs from the market. With additional "Staking demand" coming onboard for SPS via Tower Defence, in addition to the recent requirements for battling.
While your proposal is highly optimistic, it is not realistic.
in no way slows down or stops the daily burning of 13,500 packs or the daily delivery of 1500 packs to the DAO
Why would the DAO (which wants to get as many funds as it possibly can) offer a discount on something that will be whittling down in supply on a daily basis? It makes no economic sense to the DAO, and it should not be allowed to be so financially irresponsible with DAO assets (unsold RW packs).
NOTE: All proceeds from the Special 2-Week Promotional Sale will go to the DAO Treasury.
ALL proceeds from all riftwatcher sales already go to the treasury.
I hope I have elaborated adequately on my remark of "no thanks"
I don't understand why we wouldn't try. I appreciate the well thought out response but respectfully highly disagree. There were also people gated out of the RW presale, any of these people that wish to purchase some/more would be able and since the increased demand in the Modern Format these will certainly run in a major way for sales, get leveled up. There are also people that have entered since this initial presale that lasted all of 30 seconds. Just a few thoughts, again I appreciate your input you're a well thought person in this ecosystem and am glad you're here, I just respectfully disagree the results that would be seen if this proposal was given an opportunity to see a chance.
I am very glad you acknowledge this could take in a massive amount of the loose float of SPS--that's a major point I was trying to get across in this proposal.
they are able to purchase some more - they are for sale at 5k dec if you haven't noticed. Also there are plenty on tribaldex way cheaper ... just saying.
Burning packs and earning zero makes no economic sense
"Why would the DAO (which wants to get as many funds as it possibly can) offer a discount on something that will be whittling down in supply on a daily basis? It makes no economic sense to the DAO, and it should not be allowed to be so financially irresponsible with DAO assets (unsold RW packs)." = Buy in the presale and F everyone else that encroaches on my bag, even if they pay close to 2x what I paid in the presale when the proceeds go to a decentralized organization (we're all DEFI heads right?).
Let me enlighten you, burn=0. 100 sps= over a 50% premium of what players paid in nominal SPS (many much higher with quantity discounts). If SPS is a dumpster to protect players' bags then let everyone know--the support of the comment is worrisome. I worry about this game and what the DAO is being used as. I hope the game is ready to subsidize a prize pool when the SPS airdrop is over--because the DAO funds won't last long at all. Creating a new flagship token every 5 years is not good.
In the end I guess let's hope "we find a big enough round of more suckers" to give this a shot. If this is the case then yes, SPS is far too valuable at a 2 cent valuation right now.
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.
DAO < "Muh Riftwatcher card bag. Good to know where you stand.
I purchased 2015 packs in the Riftwatchers pre-sale, and opened them all. I still didn't get everything I needed to max everything, and I'd technically need to buy more packs to get everything maxed out, (in reference to future airdrops) even though, mathematically speaking, those 2015 packs were more than enough to max out everything in the collection.
Now, onto the claimed numbers for this proposal.
There is no logical way in which that almost 43% of all liquid SPS will be used to purchase the remaining Riftwatcher packs from the market. With additional "Staking demand" coming onboard for SPS via Tower Defence, in addition to the recent requirements for battling.
While your proposal is highly optimistic, it is not realistic.
Why would the DAO (which wants to get as many funds as it possibly can) offer a discount on something that will be whittling down in supply on a daily basis? It makes no economic sense to the DAO, and it should not be allowed to be so financially irresponsible with DAO assets (unsold RW packs).
ALL proceeds from all riftwatcher sales already go to the treasury.
I hope I have elaborated adequately on my remark of "no thanks"
I don't understand why we wouldn't try. I appreciate the well thought out response but respectfully highly disagree. There were also people gated out of the RW presale, any of these people that wish to purchase some/more would be able and since the increased demand in the Modern Format these will certainly run in a major way for sales, get leveled up. There are also people that have entered since this initial presale that lasted all of 30 seconds. Just a few thoughts, again I appreciate your input you're a well thought person in this ecosystem and am glad you're here, I just respectfully disagree the results that would be seen if this proposal was given an opportunity to see a chance.
I am very glad you acknowledge this could take in a massive amount of the loose float of SPS--that's a major point I was trying to get across in this proposal.
they are able to purchase some more - they are for sale at 5k dec if you haven't noticed. Also there are plenty on tribaldex way cheaper ... just saying.
Burning packs and earning zero makes no economic sense
"Why would the DAO (which wants to get as many funds as it possibly can) offer a discount on something that will be whittling down in supply on a daily basis? It makes no economic sense to the DAO, and it should not be allowed to be so financially irresponsible with DAO assets (unsold RW packs)." = Buy in the presale and F everyone else that encroaches on my bag, even if they pay close to 2x what I paid in the presale when the proceeds go to a decentralized organization (we're all DEFI heads right?).
Let me enlighten you, burn=0. 100 sps= over a 50% premium of what players paid in nominal SPS (many much higher with quantity discounts). If SPS is a dumpster to protect players' bags then let everyone know--the support of the comment is worrisome. I worry about this game and what the DAO is being used as. I hope the game is ready to subsidize a prize pool when the SPS airdrop is over--because the DAO funds won't last long at all. Creating a new flagship token every 5 years is not good.
In the end I guess let's hope "we find a big enough round of more suckers" to give this a shot. If this is the case then yes, SPS is far too valuable at a 2 cent valuation right now.