SPS Poll - Should we alter the rental floor for season rentals?
Hello yet again Splinterlanders. With the ongoing proposal to remove daily rentals in favor of season only rentals, there has been a lot of questions, confusion and some anxiety about how this will impact the price of rentals due the the recent implementation of the 1 DEC rental floor proposal. The purpose of this poll is to gather stake-weighted feedback on whether or not the DAO would like to also reconsider the way the 1 DEC rental floor is currently being interpreted.
As written it is a bit ambiguous as to whether or not the intent was for 1 DEC per rental or 1 DEC per card per day. I've discussed with the team and the team is currently planning to implement season only rentals at 1 dec per card per day if the current proposal to switch to season only rentals passes and there are no further clarifying proposals.
With all of that context, I spoke with the foundation crew that approved the current proposal and none of us feel it's appropriate to alter the ongoing proposal so drastically after such a strong showing of support already in the draft phase. We feel it's important to make the DAO aware of the current situation and to explore whether or not the DAO feels compelled to do anything differently.
I don't mind the 0.1 DEC Floor.
I don't feel strongly on this one either way, but I do feel it's important to help the DAO make informed decisions. IMO 1.4 cents per season (at peg) per card seems pretty crazy cheap but it is what it is. See what stake wants to do.
I don't have a strong opinion on this either way, I can see both sides. I will be watching who cares about the issue and that might sway me. I do think you handled this well Clay, it was a good way to get feedback in a stake weighted way so that we can understand what will pass and what won't. So good job!
I'd say let the markets market. The floor should only be to (1) prevent exploits, (2) manage server costs.
If the above are achieved with a lower floor, I'd go for the lower floor.
I didn't vote as my vote would...skew the results. But if I did I'd go with option (b) (Lower it back to 0.1 DEC per card per day). Accessibility is key.
I originally pushed for the first floor price explicitly because we were more or less attacking the blockchain with trivial transactions (even if inadvertently) while also creating skyrocketing infrastructure costs for the company. I do think we need some floor and while I personally don't see a big difference between a penny per season or a tenth of a penny per season (pretty much what this boils down to), I'm fine with whatever the DAO wants to do here. As long as we close the exploit I'm happy and I do personally think that season rentals where you don't have to worry about some guy cancelling your rental every other day will ultimately lead to a better user experience.
@bravetofu @clayboyn - as I have expressed many times in many places let me remind everyone here, in this reply (without having to go read my thesis... but you should lol...
Tofu, I have a massive amount of respect for you, your thoughts, posts and everything you do for the ecosystem in general... but if I may offer a slightly different perspective:
I always believe Markets should Market... but there is one issue not being addressed here about the "Floor"...
We have addressed:
Listing Fees
Bots
ROI
Accessibility
Costs
What we have not addressed... Bots.
Now... before you look at this screen and think "oh man, dingus has lost it..." I want you, I want everyone to consider this point:
We thought about Bots botting in the context of Reward Extraction... but the principle of "Let the Markets Market" CANNOT COEXIST with "Bots botting"... Because Markets won't Market with Bots involved - at all.
Bots will do it faster/better/cheaper and for less return than a Human.
THAT is why we need a "Floor" and that "Floor" should match the "List" in order to generate any decent ROI... which rewards the OWNER... by lowering the Floor, we reward the RENTER (and bots).
I hate and I mean - I am seething... to see this proposal 3 days after waiting 8 months for them to implement my PASSED proposal... it's like a kick in the balls.
Never, EVER change more than one variable at a time... doing this now, right on the heels of the other proposal is INSANITY to me.
However, in that short time frame Rental Prices have JUMPED in response to the .1 -> 1 DEC change... and it is rewarding ownership not rentership again... if we allow .1 DEC/Day or 1 DEC/Season Rentals... that will be a death knell to any hope of Card Value...
These haven't seen 10 DEC/Day Rental Prices in YEARS...
Yet... here we are... the 1 DEC Floor is working and unfortunately by going to Season Only Rentals... to use Bulldogs argument... it might get a little pricey to "Rent for Bronze".
But again the math doesn't really check out... 50 Playables at 1 DEC/Day = 50 DEC/Day * 14 = 700 DEC for Two Weeks... Which equates to $.50 USD for Two Weeks...
So the "New Player Can't Afford It" narrative doesn't really apply...
I would normally agree with you about markets and lowest floor possible... but Bots are not out there irl chasing the market to zero...
I encourage you both to look into the Rental Prices on CL Legendaries and CL Reward Legendaries... they haven't been this high in so long... yes, cheap rentals will expire and hit the market... but are sucked up super fast... look at the Peakmonster Data:
Playables are seeing 20% ROI again the range from Low-High is spreading...
Ngl... Ifrit Rising... is still absolute trash and seeing like 1.1 DEC/Day loooooooooooooooooooooooool
Anyways, I hope this offers some new perspective and insights.
Regardless of how you vote... how anyone votes... I respect it as their choice, even if I disagree with it.
1 DEC is already nothing in fiat terms, currently $0.0007088, so a 14 day season rental would cost a massive $0.0099232, almost one whole cent!
Anyone objecting to that is weird, and not in a good way! 😄
Setting a floor price doesn't help anyone. Just because we decide to make the minimum price higher it doesn't mean everyone will rent for more. Most will simply stop renting and playing. 1 DEC per day may seem nothing but when you factor renting over 100 cards per day over the whole season it adds up. And it might not cost much but the rewards are also nothing so there's that.
And this comes from someone who owns and hasn't rented anything in years.
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