First let me say I support a new set and the proposal to pay SPL as above.
I’m less enthusiastic about so many purchasing tokens, and the change to pricing the set in DEC, SPS and USDC.
Issue 1: For the past several years, the economy has been following the plan that "the SPS-DEC flywheel will create value for SPS."
This has been the mantra.
We saw this dynamic in action at the last two set launches - DEC pressure results in SPS burns.
But this change in strategy will not create any meaningful DEC pressure - just SPS. We are only a few months past the set launch, yet DEC is again sliding 20% below the burn threshold.
As the liquidity token, DEC should be our closest thing to a store of value token, and also the major token that underpins land utilization... it has been called a "product backed stablecoin" and we are going to let it stagnate until the next major set?
Please keep the focus on DEC for buying.
Issue 2: I'm also not really buying the concept of purchasing using SPS and definitely not USDC...
While the article seems to suggest that the DAO will collect "much needed stablecoins" - as the most expensive option, it seems unlikely that buyers will use much USDC unless stable coins become the cheapest available option (aka giving discount utility to an an external token instead of our ecosystem tokens)
- If the DAO wants stable coins, the DAO should create a long term, plan that will predictably acquire stablecoins, sustainably and at the DAO's target levels (i.e. not when it's cheapest for speculators).
- If the DAO wants SPS, the DAO should create a long term plan that will predictably acquire the amount of SPS needed, instead of hoping buyers will arbitrage the discount on a mini set to exactly our needed levels.
- If the DAO has too many assets it doesn't need, make a plan for those too. Sell, Raffle, spend on other tokens, create burn events, whatever.
So TLDR:
- please keep all purchases in the primary functional currency: DEC and credits, or accept that it might be time to redesign the "flywheel" (which notably remains absent from the SPS whitepaper)
- The DAO needs a long term strategy for its asset mix and token distribution and acquisition plan. It doesn't help anyone if the DAO is simply juggling tokens from one revenue sharing proposal to the next based on currency shortages.
This is great for the ecosystem as a whole. The DAO owns a ton of SPS so it benefits the DAO more than anyone. And totally agree with your point abput the stables. Its totally moot to even bother accepting them except for in convenience but in effect the DAO could sell some of the SPS and receive USDC for it. Would be a hard vote pass but if its needed to pay Clayboyn or cryptomancer im sure it would pass.
Thanks for the comment.
I think my earlier version came across as more negative than I meant to be…
I do love mini sets, I think it is good for the economy and the game.