PKM BACKGROUND
PKM is a utility token given to our users that can be used to enter tournaments, as a fee to access premium features, and to provide liquidity... as such we do not "need" the price of the PKM token to increase. It is meant to enhance our main product not to be our main product.
FAQ UPDATES
We have edited our FAQ page to answer a couple questions like these ones:
STARTING LIQUIDITY CHANGE
We previously said that when we create the PKM:SPS pool on Mar 14th we will add 210k of our own SPS to the pool and the PKM will come from the PKM set aside for Liquidity Pools.
Well the team has decided it is in everyone's interest (and we are willing)to add more SPS into the pool to start with. So far team members have offered to do 310k SPS which is about 3Million PKM... which should be a bit more than the what is airdropped on the 24th of March.
As a reminder anyone who helps to provide the token with liquidity and price stability, so users can fully utilize the potential of the token and acquire it if they want to use more of our features, will be rewarded via the liquidity pool. However those offering initial liquidity are exempt from receiving LP rewards or being withdrawn for at least a year. An additional constraint to PeakMonsters owners is that we have decided we will not allow ourselves to buy from the liquidity pool for at least a few hours after the pool is funded.
DO YOU WANT MORE STARTING LIQUIDITY?
Would you like to see even more liquidity in the pool to begin with or is 3Million PKM and $~72k total pool enough to begin with?
We don't know how many people will want to acquire PKM from this liquidity pool, but we do know that the more is in the pool helps to have smaller price movements.
If this is the case we invite long time trusted users to contact us if they want to be a part of this POTENTIAL addition to the liquidity pool given the same constraints mentioned previously.
REGARDING SELF-BUYING TO GET PKM
Also updated in https://pkm.peakmonsters.com/faq
YOUR VOTE
You can vote that we do nothing and be ok with this possible mechanism for people getting tokens OR that you don't consider it a concern. (Or because you believe it's only a low risk theoretical possibility)
You can vote that IF it becomes an issue, we can put future caps on the distribution of PKM airdrops. Most notably potential caps that adapt according to future price of PKM which could allow for upward mobility of the token AND extension of airdrop time period.
WHY YOUR VOTE MATTERS
Our product and company does not need the token to be at a certain price but we do want our users to be happy and excited to use peakmonsters.com so we look forward to what you have to say and for you to know this before the 14th when people may purchase tokens from a decentralized liquidity pool.
PeakMonsters and Splinterlands links:
- PeakMonsters: https://peakmonsters.com/
- PeakD accounts: PeakMonsters | PeakMonsters blogging account
- PeakD Projects discord: https://discord.gg/QdYg3zUSCD
- Play Splinterlands: https://splinterlands.com?ref=peakmonsters
Other Social Media accounts:
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Not sure what to vote for. Peakmonsters is earning their fees through people selling to themselves. So that is good for Peakmonsters and people get PKM at a premium (I assume, or else people wouldn't do it). If this might hurt the PKM price, as those people might be tempted to take profits and dump their airdrop continuously into the pool, is unclear to me. Maybe, or maybe they want to pool it for the rewards and actually deepen the pool further. I leave it to others to make a call on that.
The Cartel will pool PKM:SPS either way. And I personally have already started to use Peakmonsters exclusively for buys. So the concept of PKM is already working in your favor. ;-)
!1UP
Its being great part in splinterlands via peakmonoster.com as cards buy and rental are done through this platform most of the time, this PKM token also helps user to engage more here with its future ability to join other features in splinterlands, voted for option 2.
I would vote for option 2, I'd rather there wasn't a way for people to abuse the system.
I vote for Option 2
twotooas well.vote for option 2
I vote for option 2: flexibility!
MUY GRANDE!!!😍
QUIEN PUEDE VOTAR? Y SE PUEDE CAMBIAR LA COMISION AL COMPREAR EN PEAKMONSTERS?
I vote for option 2, not to prevent cheating (which can still happen -- but I doubt to a great extent and real cheaters are likely to be caught) -- but to give you all more flexibility.
I'm neutral on more liquidity.
I vote number 1 because everybody is voting for number 2 haha
i will probably get 0 to small amount of pkm tokens as i didn't trade that much, but i am thinking of adding to the pool my small amount of liquid sps when all goes up. :)
getting a small % of fees sounds ok.
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Vote 2 just in case. I would be interested in providing liquidity as well. Peakmonsters is a cornerstone of the Splintetlands ecosystem!
Do you think we need more starting liquidity? Or you're just saying in case it's an option you're available?
I vote that no more starting liquidity is needed. Your users will offer it anyway without it being arranged.
OK noted. Any reason why not? The starting liquidity does not get any reward pool rewards. Or are you wondering about what happens after the year of it being locked up? I'm just curiousm so it will help us understand any concerns
Pure personal greed. I plan to provide a small amount of liquidity as early as I can to benefit from higher pool share and fees. Even with no rewards I still get these unless I am mistaken. By coordinating more people to provide initial liquidity I will benefit less. I may be misunderstanding.
The initial liquidity will not earn any rewards, so it will not compete against you and other LP providers.
In which case I misunderstood, and I withdraw my vote. I don't mind.
Haha k. Yeah what @flauwy said that initial liquidity from team members doesn't get any LP rewards after a year those providers can move tokens and maybe they'll move it into the reward owning pool... but that's 12 months away. 12 months is a long time should be interesting all the stuff that goes on between now and then.
Am voting for option 2
I vote for option 2.
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I'd say option 2 is better since people will always do the 'tricks' to manipulate their levels at cost(such as making internal transactions with alts as mentioned while paying 3% market fee). The future caps for the distribution of PKM could play the role of security lock of door, rather than doing nothing. I mean, having some contingency plan for the abuse situation to stabilize the market is necessary.
Option 2.
vote for 2 as hopefully this will keep cheater out of the game and the real gamers playing.
Just read this post (I'm working backwards from the last I commented on). I guess I would probably favor option 2 to prevent abuse. That said, I agree with fauwy that even if people do try to self-buy to get more PKM that ultimately would benefit peakmonsters and the token.
But to be honest, some of the what you wrote is beyond me so I will have to take some time to understand.
Ok, on to the next, er..previous post.
It seems tough to monitor potential "abuses" of people buying/selling to themselves. Is there a potential for arbitrage on a grand scale? It's too early to tell. What are the potential risks if people put in the energy to game the system? I'm glad that Peakmonsters stands to gain, regardless. Your platform is awesome, and I am glad that 90% of my purchases have been on this platform.
One suggestion: If you have any "how to put PMK into liquidity pools For Dummies" I'd love to see that, and I imagine others would, too.
If the price goes up and people start abusing it we will reduce the drop amounts to avoid this risk:
https://pkm.peakmonsters.com/how-to-add-liquidity
My vote is do nothing. Don't fix something that you don't need to fix, also market powers usually fix those things.
It's still a theoretical issue... but it was important to get buy in from the community of users prior to anyone buying any tokens from other people in the markets so they know that there could be a mechanism in place to make sure we don't deplete airdrop way faster than planned.