Summary
In our most recent proposal we proposed an adjustment to both the breeding and Land Vending Machine (LVM) costs. To accommodate community feedback, we are splitting the breeding proposal and the LVM proposal into two separate proposals for the community to vote on. We are proposing an increase in the RBW cost for LVM minting.
Motivation
After the RBW emissions reduction, RBW emissions to incentivize staking and LPing sit at 50,625 daily. The RMP sees roughly 65kof daily RBW volume, resulting in a net sink of 3.25k RBW per day. Between breeding and evolving, we typically see 40k RBW sunk each day. From the LVM, we see around 20 land mints per day, resulting in a net sink of 1k RBW. All in all, we are removing ~44K RBW from the supply each day versus the ~50k of RBW inflation.
With jousting’s implementation, there is a 10% take rate on entries that flow to the treasury. Potions will likely prove critical to the success in tournaments, so it’s fair to assume the RMP will begin to see more volume and increase our tax revenue. It is also worth noting that the launch of jousting will likely increase breeding/evolution spend as demand for high stat corns picks up. However, we believe it will not be sufficient. That is why we are proposing to increase the LVM RBW cost in this proposal.
Details
We are proposing to increase the RBW input cost for minting common land 4x, rare land 8x and mythic land 12x as seen above.
Conclusion
We believe that the overall increase in LVM RBW input costs will have a positive impact on the economics of RBW and increase its usage. We believe this gives us the best chance of long-term success.