DEC To PEG: This Is How
Before I go over my suggestion let me give a brief explanation on how I brainstormed my idea. First there was already a SPS proposal to add DEC as a payment option for RiftWatchers. That proposal got shot down by SPS Stakers because it would had meant changing the sale dynamics of said packs. So when I sat down and brainstormed ways to bring DEC to peg I excluded any idea that might change any sale dynamics of already in print Splinterland assets (specifically any in print booster packs) in the way in which the disapproved SPS proposal would have. I'll also preface this by saying I think DEC will go to peg on its own but it will take time for it to do so. My suggestion (I believe) will bring DEC to peg value ($1/1000) in a hurry and when doing so will push the price of SPS up with it. With DEC at peg and SPS price rising its likely other Splinterland assets will soon follow that same trajectory.
DEC TO PEG
The solution has been staring us in the face this whole time. In fact it was one of the main ingredients that caused DEC to 15X+ over peg during the previous bull run. That reason is the SPS airdrop. I know what you are thinking "RentMoney Are You Crazy, We Can't Do That Again." Oh but I beg to differ, you see I'm not saying to create more SPS as that would not go over to well with anyone. I'm not saying remove SPS from other aspects in which the Whitepaper deemed for other uses. So if we aren't creating more or removing SPS from other areas where does this SPS come from? Good Question; To that I respond, the SPS airdrop is already still ongoing. We currently are getting SPS airdropped to us daily from the Player Staking Pool share based on how much SPS we have staked. This is being done even though Player Staking has not been implemented yet. With the current focus being on LAND/End Of Year Sale and other ongoing aspects of Splinterlands (GLX/Tower Defense, Ect.) I suspect player staking is not near the top of the priority list of things to add to the game just yet. What I propose is change the way we are getting the current Player Stake SPS airdrop to match the way in which we originally got airdropped SPS. Below is a screenshot of the original SPS airdrop point system. View the full whitepaper here: https://sps.splinterlands.com/airdrop
If this was to be implemented we wouldn't need to follow the airdrop point ratio above. Things can be adjusted to make room for the new Splinterland assets and to more reflect the current needs and wants of the Splinterlands community. When Staking SPS On Players is ready to be implemented the proposed airdrop will cease to exist and the Players Staked SPS used as the whitepaper intended. Doing this gives out SPS to players that are already getting said SPS dropped to them. The only thing that changes is how the SPS gets dropped (in a way that benefits all Splinterland assets). In short, no new SPS is printed, No SPS is removed from other aspects of the whitepaper, we simply just adjust how our Player Staked SPS airdrop is given out until its ready to be used as intended. I don't see a downside to doing this. What do yous all think of my suggestion? Do you have one of your own? If so lets hear about it in the comment section below.
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Woohoo this could really work!
This could work, although the market is very low and it may take longer than desired.
The thing is, it doesn't solve the problem of over 6.2 billion dec sloshing around when we only need about 500 million to run the economy. It would just be a ticking time bomb until it all hit the market again. Just knowing that would continually have people dumping anytime it got near peg. And if it never hits peg, there's no need to burn sps, especially when we still have 12x the dec we need.
Also, while the SPS airdrop started the ball rolling on DEC breaking its peg, it wasn't what pushed it up 15x. That was the mechanics of dec itself. The higher the price, the more was given out in battle rewards which meant it was more valuable to play the game so more people/bots bought in. Those frenzies last until they don't and then they unwind violently like we saw. The DEC glut we're seeing now is because of that system and the obscene amount they were giving out in LP rewards.
The other thing is the shine has come off sps since its been a 18 months and there's still no real utility. Everyone is in wait and see mode.
structurally I don't think there's anything wrong with your idea. I don't think it would work but it wouldn't hurt anything. Optics wise I think people are exhausted by all the changes so it could hurt morale. Even if they did it your way, half the player base wouldn't take the time to understand it and would assume they were printing more sps and would sell. Others would just freak themselves because it seems like another desperate move and part of the community is already on team bankruptcy watch after the layoffs.
I think at this point they just need to keep to the path. We're burning 2-4 million dec per day. It's not enough to get us where we need to be anytime soon but all it really takes is one big burn dec sale and its gone. Plus there are so many dec sinks coming.
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My suggestion meant as a band-aid until land staking is possible. Hopefully the DEC that is needed for land will counter the the DEC that is in print.
Lots of things were responsible for the bull run. I would argue the mechanics of DEC printing more when the USD price of DEC is high does the opposite of what you suggest as helping bring DEC to peg value was the mechanics purpose.
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And eventually it did do the opposite which is what we're dealing with now but initially, it pushed up the value to play the game, to rent cards, to rent out cards, to buy cards, etc. This increased the need for DEC faster than the game could spit more out and it caused people to fomo into it and buy it up even more (which sent the value to play the game up even more again)
Once they nerfed bronze so no more dec was given there the frenzy stopped. That meant the growing demand stopped. And it meant we suddenly had a massive glut in DEC supply that has since pulled the entire game down (with the help of them taking the air out of the card market by smothering the demand that was left with over 100 million cards.
The final nail was the bear market but the game would have crashed without it. Just saying that none of the same pieces are in place now that were then.
I still don't agree with that. When the price of something is high putting out more of it will help bring the price down not up. Scarcity helps price, having plenty of something hurts price. The mechanics adjusted the amount of DEC given back down as the price went back down. If those mechanics weren't in place DEC would of hit some crazy USD value.
Here's the short of it. DEC to PEG can help you understand what's happening on your website so that you don't have to waste time on something that doesn't bring anything positive to your business. Here you get here and get more new ways for ideas. In this post, we'll be looking at the topic of how to plug in DECA devices into PEG. This topic has come up quite a few times recently, so I thought it would be useful to create something that has all the answers together under one place.
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Thanks for sharing! - @alokkumar121
