SPS Governance Proposal - Distribute Land SPS Rewards via "mining" for Land Phase 1.5
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A proposal is being put to a vote of the staked SPS token holders to change the method of distribution for the SPS reward pool for land upon the release of phase 1.5 which is expected around the end of Q2 / early Q3 2023.
If approved, upon the release of the new SPS mining mechanic as part of phase 1.5 of the Secret of Praetoria (land) expansion, the SPS reward pool earmarked for the expansion will stop its current distribution method and change to the distribution method outlined in the Secret of Praetoria 1.5 whitepaper (https://splinterlands.gitbook.io/the-secret-of-praetoria/resource-production/worker-options/mining-sps).
From the whitepaper:
With the release of land phase 1.5, the SPS reward pool allocated to land will no longer be automatically given out just for holding land as it is currently. Instead, players may choose to task their workers on certain land plots to mining SPS tokens in order to earn from the pool.
This will work very similarly to the existing staked SPS rewards, however instead of the amount of staked SPS determining your percentage of the reward pool that you receive, it will be determined based on the amount of Production Points you have being put towards SPS mining on your land plots as compared to everyone else who is mining SPS on their land.
For example, if a player is producing 1% of the total PP generated by all land plots that are mining SPS during a period of time, then they will receive 1% of the total SPS reward pool for land during that period. The amount received will also be subject to the 10% resource production tax (see the Taxes section for more details). Players will receive their SPS directly staked to their account any time that a Harvest is performed in any region in which they own land plots that are mining SPS.
As a reminder, the SPS reward pool available for land is 6.25M per month, reducing at a rate of 1% each month. The land reward pool began in October of last year, which means that if land phase 1.5 is released in June of this year then the SPS reward pool will begin at roughly 5.77M SPS per month.
Currently, a significant amount of SPS tokens are being given out to players for simply holding land claims and deeds, which provides no value back to the SPS token. This was always meant to be a temporary measure until the first playable version of the expansion is released.
Now that we have the details in place as well as a rough timeline for the first playable version, we are asking the community to approve this proposal to allow the SPS rewards to be distributed in a way that more directly benefits the SPS token and token holders. The SPS "mining" system described in the whitepaper will require players to actively participate in the game and put their assets (including land plots, cards, and significant amounts of DEC) toward earning SPS, which, in the case of DEC, provides direct value back to the SPS ecosystem.
Please note that this method of "mining" SPS in the 1.5 version of the Secret of Praetoria expansion is also meant to be temporary, and is planned to be swapped out with a more final version for earning SPS through land in phase 2.0. We currently expect the whitepaper for phase 2.0 to be released around the end of Q2 of this year and hope for it to go live before the end of 2023.
Please note that this proposal is independent of the recently approved proposal by @jarvie here to pay out SPS only for surveyed land deeds. That change is planned to be implemented next Tuesday, 4/11/2023, and this proposal, if approved, will replace that proposal when the new SPS mining feature of land phase 1.5 is released.
Thank you for participating in SPS DAO Governance @splinterlands!
You can place or monitor SPS Stake Weighted votes for and against this proposal at the link below:
Link to this Pre-Proposal
Updated At: 2023-04-13 16:16 UTC
is that why you are delaying the proposal that we recently passed?
Is this essentially approving the mining mechanism in the white paper?
That's what I read it as as well.
I understand what you're trying to say but you're a wee bit behind the times and you should probably update this post. while it's technically still true it's not the voted will of the users that it function the way it is right now. The stake holders have recently voted to not give accounts SPS for simply holding claims or deeds.... only surveyed land.
But in any case I'll be voting YES to this proposal and hope it happens faster than Q3
@splinterlands Please implement the passed proposal immediately.
PS. Thank you for the edit!
Agreed,no idea why this is still even discussed
Totally confused as well now, agree with you
uwelang & azircon agree?!
This is now saved on the blockchain forever! 🤣
I disagree
sad indeed but sometimes.....
Now, there is a land mechanism active for players in Land 1.0, I feel there is a need to move the pool to suggested proposal for giving more value to SPS token.
I don't see any voting post in SPLD proposals, maybe it is being updated, but I'll go with the proposal. Thanks
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Hey there whales! I hear you like money?
Have some more money!
this is literally how every proposal starts and ends
The rewards are equal though
Awesome. I'm excited for land and looking forward to us fighting for the SPS in the original way intended!
I can imagine a day where the SPS will emerge from its bear slump and then emerge as something that people will truly "push and shove" to earn on land! Great for everyone!!!
Do not always say awesome, that post is way behind things most thought was agreed on already.
they just forgot to add the paragraph at the bottom, but they amended it. I wrote this after that paragraph was added.
I'd still rather see the lazy tax part of the system changed to a staking or fee system for bonuses and services provided by the castles and keeps. That would allow those running the plots to voluntarily contribute to keeps and castles being run well and have the power to refuse to contribute to castles and keeps that aren't. As it stands, I can't vote for this.
why should this be a proposal? Wasn't it stated this was going to be so?
Awesome. Another proposal squarely focused on Whales extracting as much as possible from the game. To sum it up 'got big pp, vote this and get more sps'
yeah this "community voting" system just ensures whales call all shots going forward
this game is doomed if they don't fix that
It's a good plan, however, there's a good chance that I will stop playing, at least intermittently, choosing passive income over actual fights, also letting my guild down if my best cards are staked. I'm a bit resistant to renting as I have always enjoyed owning my assets, but if they're staked, I can't use them in battles.
Honestly, I feel like the game has gotten a bit too competitive of late, as I am unable to enjoy my max level cards for more than a few days at the end of season.
In comparison with Marvel Snap, I can progress in my objectives from loosing battles. For example, If I need 20 power at a location to win, that can happen on a losing match with the one victory out of 3 locations. When that happens, I can give my opponent a thumb's up or fist bump. Much harder to be loosing more than half my battles in Gold with a deck that's nothing to sneeze at and very expensive.
Having skin in the game is carrying me through this journey, but for how long? When land is further along, I say, focus on making the game less individualistic.
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I think the comparizon with other players part is not sitting well with me because automatically the new payers are going to be out of the equation as the new chaos cards are far much less pp compared to the better cards. I think it should just work like the current sps staking system. in that way it gives the player the ability to choose preferences to stake cards or to play. Another thing with this proposal is I think it is also going to affect game play because if I am staking most of my cards for higher PP means I don't have cards to play with so I will simply not play unless the rewards for playing are going to be more for playing than land rewards. So in conclusion we want to work on land or play the game but if you focus on land It means you will be choked and wont be able to play and vise versa
We will see less battles. Fewer battles mean more rewards for those who battle. getting in higher leagues and being a landholder will be hard to do. It is going to be WILD...
How many new players hold land, I think most of the big landholders, are facing a decision: play the game or farm your land. There is only very few who can do both.
kinda gross our priorities are not in developing better onboarding tactics to spur on growth but rather solely focused on how rewards will be divvied out to whales
Concentrating a large portion of the tokens in a few people is a terrible idea. And this is the main reason that this token does not have large investments, professional traders do not trade tokens created for dreamers and distributed in few hands. The value of SPS will continue to decline in the coming years.
100%
Well well well, again 95% of the SPS will go to some whales, a little sad for the average players.
everyone gets their fair share. those who invest nothing deserve nothing. or have you ever received dividends as a gift even though you don't own any shares?
Will other aspects of land be live at that time? Can we harvest other resources or are we going to be required to buy wheat off market in order to mine for SPS if this passes?
another the rich get richer and the little player gets shit on
Although I am not ready for mining at all I would say yes to this but the proposal has to be updated as Jarvie said.
Azircon mentioned implementation but I think I already got more SPS, or maybe it is just because a lot of plots are up for sale? ok, it must be that... seeing the edit
How will this affect the price of the token?
After my initial reaction of 'Noo I'm going to lose my rewards cause I wont be able to mine SPS', I gave this some thought and realised this will dilute the available card market and this should be better for lower ranked players battling as theoretically there will be way less players using max decks as they will need their best PP cards for mining SPS and production PP for things like grain to fund their mining campaign. So yes while the whales will benefit largely from taking over the pool, they will likely have to sacrifice the strength of their decks along with any player who wants to mine SPS on land and is capable to. Even whales have a limit when it comes to max level cards and many will need 100s or even 1000s on land to produce max output and it needs to be just lucrative enough for them to make that call. I might be wrong but if my head is working right this in theory should then benefit the little guys throughout the leagues with more competitive matches and possibly (or probably) larger win rewards per battle and neutralise the impact of 'lost' rewards that was never going to last once land hit farming/mining point. So after an initial no, for once I'm am actually going with a yes on a vote.
I think this is pretty much how I feel