RE: SPS Governance Proposal - Price Riftwatchers Packs in DEC
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You are sure ?
Let's calculate ...
At the moment you pay for a riftwatcher pack arround 3.6$ at the market ...
If they will be sold for 5.000 DEC it would be arround 3.9$.
So for 2400 pack you pay 2.000 x 3.9$ = 7.800$ + 2.400 Voucher for 0.05$ each = 120$.
So you would pay 7920$ for 240 packs = 3.3$ / pack. That mean you can buy a pack WITH Airdrop-chance approximately 10% under the second market price WITHOUT Airdrop-Chance, you don't think that their can be a run ?
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Since you want to calculate, let's calculate…
How much DEC would be needed to buy all remaining RW packs?
(Hint: it's more than the market cap of all issued DEC)
So to sell out means someone is burning SPS, which means DEC would be above Peg value, and the “discount” would be gone.
So yes, I’m quite confident this won’t sell out all remaining packs in under 3 minutes
okay you get your point.
So it seems to be no risk that all will sell out, but it can at least happen like it was by the initial release of the Riftwatchers that the packs till the next airdrop will sell out in this short period of time.
In every case I think since this proposal goes live nobody will buy riftwatcher-packs for 5$ in SPS.
Even when it would be a very good business in the past to use your SPS to buy riftwatcher packs compared to stake them when I see how the SPS-price dump more and more, but if you expect a further price dump you can sell your SPS completely and need not to buy riftwatcher-packs.
Agree with you - some people will be very happy about getting a discount... maybe we unlock another airdrop or two. Which would be pretty exciting.
My guess is that they have learned their lesson and corrected the code for airdrop levels, but I don't know for certain.
IMO they should set a time-frame like 24 hours and tell not important how many packs are sold in what time every pack who will be sold in the 24 hours after the price-change will qualify for the next airdrop (or two).
Unfornately @yabapmatt seems not to be interested to interact with the user who write comments to his proposal, in every case I cannot see any answer, but probably for him only the whales who decide the proposal are interested.
People will buy RW packs and prices will slightly drop, till reaching a new equilibrium between cost and EV.
Packs will keep selling only if people will buy RW cards off market. I don't see any risk of selling off too fast.
Anyway, I'm voting YES. It makes totally sense to me and DEC is closer to peg than on the previous proposal.