Chaos Pack Burn Event - Proposal
d37448a1fdead15cf059ebea7ea3984af32db163
WHAT
Burn chaos packs for titles (while not devaluing any other asset)
WHY
Chaos packs are overprinted for our community and we need a place for them to go without devaluing other assets like riftwatchers packs or devaluing other titles.
Suffix titles are fun and also of high interest to land holders for their 10%/25%/50% land boosts
Titles are also very limited in overall supply and should should be of high interest to some land holders.
It may in fact increase the value of Chaos packs as some users may buy some off the market just to participate.
HOW
- Users send Chaos packs to @null
- Splinterlands team would track the packs sent to @null
(OR Splinterlands team would be authorized to pay up to $1000 worth of funds from the DAO to a 3rd party that they trust who can do the work and give splinterlands a list with 1 week time of list being published for everyone to verify) - Splinterlands would create the titles and distribute
WHEN
This should be a short 2 week event announced by Splinterlands Team starting soon after passing of proposal
This means only packs sent during that 2 week span will count toward titles.
Having it happen when (or shortly after) land goes live may help those who are looking for ways to boost their best plot layouts beyond runi or totems.
TITLES FOR PACKS
Because we are trying to bring ORDER to the CHAOS (which the number of CHAOS PACKS brought) there will be a theme to the titles.
- The Stabilizer (Rare 10% title) = 125 CHOAS PACKS BURNED
- The Chaos Fighter (Epic 25% title) = 350 CHOAS PACKS BURNED
- The EntropySlayer (Legendary 50% title) = 2000 CHAOS PACKS BURNED
BELOW: Not part of the proposal ... just some insights
WHY IT WILL BE USED (or why not)
One argument against the proposal is that it is not a good enough deal for users to act on because pack holders could sell their packs and buy other titles in the market. However this is false because the number of titles available in the market is very limited, the prices of titles goes way up in every case after the first listed title is purchased and perhaps most importantly a user trying to aggressively sell even 400 packs would sink the value of chaos packs by quite a lot to get them sold.
We have many users with thousands and tens of thousands of packs that probably realize the liquidity issue blocking them from trying to sell their packs but would like some sort of value return. They are often those with lots of land who may only have a small handful of Titles.
Users have already and will continue to realize the value of bonus increasers for their land such as Runi, Totems and in this case TITLES so this proposal is banking on that increase of interest by land holders for titles.
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Here are a list of users that may be interested in offloading some of their pack collection for another product that can be more immediately useful to them. They can not easily use the market
Volume of Chaos packs just can't sustain large pack holders even during an entire month any one of the above users would have a hard time selling their collection without crashing prices.
OTHER THINGS TO CONSIDER
The Splinterlands team can respond in the first couple days in the comments if they would like to have a limit to the number of titles that can be given out.
users who would like to see this proposal pass could share how many packs they would burn for this event which should help the cause of the event to help users recognize the value of the proposal. (If no one would be willing to do burning then of course this proposal should not pass)
The default will be to give you the highest level titles that you qualify for.
Math examples. 2250 packs = 1 Chaos Fighter and 1 EntropySlayer
- If you send 2400 you will get Entropyslayer and Stabilizer (and have wasted some packs) you will not automatically get 6 Chaos Fighter titles. To get that outcome you would need to burn from different accounts as splinterlands shouldn't have to do any extra work to read your mind or watch your messages.
One argument against the proposal is that titles up to now have been very limited. Highest rare title has 688 in existence, epic 346 and legendary 76 so some may want to see titles used much less. So you will need to decide if it's of worth to burn all these cards in exchange for allowing some users to get more PP on land with the bonuses.
Another drawback (or benefit) is that with these numbers we would only burn 688125+346350+762000=359,000 burned chaos packs*. To make a serious dent we may need to be ok with even more titles existing... like perhaps twice these numbers being burned. However removing 359k packs or 1.79m cards from the ecosystem without devaluing riftwatchers or causing pack price or titles to go down could be seen as a huge benefit to the ecosystem. All while being a benefit to large pack holders that may feel stuck with tens of thousands of packs and no way to liquidate them without hurting the economy in general.
Legendary seem to be designed to be very scarce and are much more expensive in markets so we have acted accordingly on the pack price.
As prices change for chaos packs and titles this may be too good or not good enough of a deal so this is a big reason for a limited time window.
Another option not included in this proposal is that this should extend to already opened Chaos legion cards and count the amount of CP burned. But that should be a different proposal.
Yes quantities of packs for each title are related to the present market values with the clearly stated goal to NOT have the value of any asset go down because of this proposal. This proposal is likely to not be of value to someone buying packs and burning them, but those who have packs and don't see a way to sell them in bulk so they would rather get the titles.
You can contact me here on Hive by comment or chat message.
So I think I read everything correctly. This would take out about 2.8% of CL core cards in exchange for doubling the titles?
There are over 1900 titles out there.
Matching the titles existing would net about ~680k chaos packs burned.
There are ~2.76m packs out there so that's about 24.6% of packs.
(this does not include scorcher, burninator titles)
Perhaps you're referencing total packs that were printed which as we know was excessive but even still roughly 4.5% of all total that have ever been in existence.
I submit 680k packs is a HUGE deal. I doubt we would burn that many but would be an amazing dream. That's 3.4 million cards!!
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At first proposal was listed as invalid. The user didn't realize that the burn needed to be sent with in-game wallet and not hive-engine so we had to manually verify their transaction. They did indeed burn 100k dec if you're wondering.
While we're at it in response to their post we would be able to build something to track the pack burns made and give the list to splinterlands team. We could offer to do it at $400. However with the splinterlands team having access to their database we suspect they could do it way faster than we could.
As a follow up with my personal account... i'm in for one legendary title and like maybe 5 epic titles. It's kind of expensive but with as many chaos packs still around i doubt I'll ever see them get back to what i purchased them for so i'd rather have the titles for my land.
not even for the land titles there is a boost at the land. so please stop messing around in mathematics....
IMO titles should be a rare and prestigious thing to have. We shouldn't be giving them out willy-nilly. Just a few here and there to commemorate things, NOT as a primary reward.
We agree that titles should not be given away "willy-nilly" and we hope that we're being extra careful to not devalue them in any way. The market value of the packs needed are pretty high, though the value to the person getting the title is that pack holders have a way to liquidate large amounts of packs in return. They will have earned the title by their action. Much like others have earned their titles. Though we suggest that this is perhaps an even more costly way to get a title than the Scorcher/burninator. For those titles you didn't loose anything you simply exchanged for guild points AND got titles.
This may not solve the chaos pack crisis but it can help. It gives relief to those sitting with 10s of thousands of packs.
I applaud the effort and recognize people want to get rid of Chaos Legion packs. I personally don't mind if people did this burn (or didn't). But I also don't think the number of CL packs is a big deal.
I do agree with @fight4freedom above that titles should be special. So I would like to have some other asset used (when its appropriate to do so).
Like I said I like the effort and don't think its bad or anything, I just think we aren't ready for this at this time. I would hope for something like this once land, rebellions, and the whitepaper for land 2.0 are all released.
Fully understandable... we hope they remain special. They are helping to fight Chaos.
see the comment we left on FIghter's comment about how this is more difficult/costly and perhaps more special than other titles that were given for number of packs purchased or number of DEC turned into guild points.
I cant believe you spent 100k dec on this...