The DAO should never own DEC and burn any DEC it possesses. The reasoning for this is that the DAO can mint DEC with its own SPS tokens if it ever needs DEC. The DAO holding DEC is just holding its own inflation and pointless.
I guess we see this differently, I think it's pointless for the DAO to burn SPS to get DEC. Why not just have it ready to use for rewards when the time comes and SPS stops inflating?
Kill 2 birds with 1 stone, accumulate/remove DEC from circulation while it's below par, and stockpile it for reward payouts in the future.
Because DEC is not the reward token. SPS is. The proposal I'm making is to do exactly what you're saying. My point about the ability to burn SPS for DEC is just that there's no point for the DAO to hold DEC. It's like a bank printing money for itself and not even lending it out or investing it to make money, it's just got it sitting there because maybe one day it'll use it. It's just printed money inflating the circulating supply to no real end. Unless we move back to rewarding DEC for battles, then there's no reason to hold DEC. Unless you think SPS is going to be way lower than it is now in 3 years (or whatever the date that we run out of SPS distributions is) it would make more sense to hold SPS and then burn SPS for DEC at that point to award DEC for battles as you would end up with more DEC for a better conversion rate. It ultimately comes down to "do you think SPS or DEC has more upside potential over the next 3 years or so." DEC has a ceiling and SPS doesn't. If one fails they both fail. There is literally zero point for the DAO to sit on DEC for the next 3 years or so. Just burn it now and print it later if there's ever some hypothetical situation we need to spend DEC.
Basically I think you're getting things out of order. Let's get DEC to par, then everything else can follow logically.
Somebody has to buy up DEC for it to reach par, why not have all of us do it collectively by using our DAO funds?
As I've said, I'm not opposed to the DAO getting DEC off the market. Getting DEC to peg is critical. The problem is that I don't want the DAO to be buying and holding DEC. It should burn it. I also don't think the DAO can buy enough DEC to really move the needle, but it is what it is. We'll just have to agree to disagree I suppose.
I addressed this on bulldog's proposal:
The DAO should never own DEC and burn any DEC it possesses. The reasoning for this is that the DAO can mint DEC with its own SPS tokens if it ever needs DEC. The DAO holding DEC is just holding its own inflation and pointless.
I guess we see this differently, I think it's pointless for the DAO to burn SPS to get DEC. Why not just have it ready to use for rewards when the time comes and SPS stops inflating?
Kill 2 birds with 1 stone, accumulate/remove DEC from circulation while it's below par, and stockpile it for reward payouts in the future.
Because DEC is not the reward token. SPS is. The proposal I'm making is to do exactly what you're saying. My point about the ability to burn SPS for DEC is just that there's no point for the DAO to hold DEC. It's like a bank printing money for itself and not even lending it out or investing it to make money, it's just got it sitting there because maybe one day it'll use it. It's just printed money inflating the circulating supply to no real end. Unless we move back to rewarding DEC for battles, then there's no reason to hold DEC. Unless you think SPS is going to be way lower than it is now in 3 years (or whatever the date that we run out of SPS distributions is) it would make more sense to hold SPS and then burn SPS for DEC at that point to award DEC for battles as you would end up with more DEC for a better conversion rate. It ultimately comes down to "do you think SPS or DEC has more upside potential over the next 3 years or so." DEC has a ceiling and SPS doesn't. If one fails they both fail. There is literally zero point for the DAO to sit on DEC for the next 3 years or so. Just burn it now and print it later if there's ever some hypothetical situation we need to spend DEC.
Basically I think you're getting things out of order. Let's get DEC to par, then everything else can follow logically.
Somebody has to buy up DEC for it to reach par, why not have all of us do it collectively by using our DAO funds?
As I've said, I'm not opposed to the DAO getting DEC off the market. Getting DEC to peg is critical. The problem is that I don't want the DAO to be buying and holding DEC. It should burn it. I also don't think the DAO can buy enough DEC to really move the needle, but it is what it is. We'll just have to agree to disagree I suppose.