RE: SPS Governance Proposal - Hire SMC To Create a New Mini-Set

Until it hits 0.1425 cent you simply overpay when you use any other form of currency. By a lot. Imagine you are a new player, wanting to buy a pack, you have most likely credits because you don't bother with this crypto stuff and hive engine. Now you pay 5 USDC for a pack instead of 3 or 4 because you didn't do the swap first? This is bad.

And assuming it hits 0.1425 cents, what then? Then you have to burn SPS for DEC again unless you want to pay more using SPS. From that point on the DAO gets DEC. Assuming the DAO still wants SPS it has to swap anyway at that point. If it wants stable coins, why not give the same discount for stable coins?

It is just an artificial pump of SPS in the short term, moving all value there at the cost of the rest of the ecosystem. You just push SPS at the cost of DEC and then, after the sale of this mini-set is over, what then? Then its again the climb to peg for DEC during which there is almost no demand for SPS, while all the SPS taken into the DAO will be slowly flowing out as rewards. What direction will SPS go then? Unless you price every future set in SPS it can only go down from there.

Instead of sticking with the flywheel where SPS is valued by the demand of DEC, the currency in which everything should be priced, this pricing model tries to circumvent the flywheel to FOMO people to push SPS price for a couple weeks before the inevitable decline. Well, I guess those buying now to dump at 0.1425 will be happy along with those selling SPS all the time anyway.

Yes, we all want to see a higher SPS price, sure, but the reality is, the SPS discount forces everyone to swap for SPS first and if they don't, they simply pay more for the same product. It is a completely unnecessary imbalancing of asset values in the ecosystem, when the exact same could be achieved by simply pricing everything equally. Nothing stops the DAO from accepting all currencies and then just swap except for the LP fees. All it does is create a very high fee for paying in the wrong currency and what makes it even worse, the proposal even suggests that it wants USDC, so why punish people for paying with it.