I don't have almost any SPS left, so my vote doesn't really matter, but this is crazy. Many people have been wanting to stop or at least cut the DEC recycling that keeps happening, and this proposal will increase the DEC recycling that much more.
On top of that, there is a huge problem, and I am certain that even in the best-case scenario, the DAO will lose money. And why is that? Let's say the 120% is fully paid. But that's if we're looking in $ terms. Right now, DEC is almost at 50% peg. So if the DAO were to pay $5500 in DEC to the team today, it would pay almost 11M DEC. This would happen daily, so obviously, the payments would be made in days when it is at peg as well. However, the only times DEC has been at peg or really close have been a few days/weeks before and during the pre-sale of a core set. If we're assuming a 2-year cycle, that's about a month of DEC at peg, maybe 2 months if we're being generous. Sure, it doesn't jump from peg to 50% right away. But how long does it stay above 90% or even 80%? I'm pretty sure it stays below 70% more than 50% of the time.
Meanwhile, when do sales happen? Most of them happen during the pre-sale, where DEC is at peg. That's when the DAO will be receiving most of the money, but during those times, $5500 will be very close to 5.5M DEC. The end result will be the DAO having less DEC than what it paid.
Not to mention that this removes any risk for the company. Is there any other company that operates like this in the world? I'm selling all my stuff, but I want to keep it in DEC until the next set brings it to peg. At this point, I don't even know if that will happen if this proposal passes.