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.
proposal neglects the fact that our game hasn’t attracted so many new players in year 1 so is putting prices up - this is a complete contradiction to normal business models which would suggest lower prices are needed to attract new buyers
unfortunately this proposal will pass as it means older players have purchased land at cheaper prices so again making it more difficult for new players
conc: I will probably vote against this proposal but expect it to pass - another greedy DAO vote imo
You can still pick up land for below minting cost in the markets. Minting land is supposed to be a rare thing you do to make sure land value doesn’t inflate egregiously. Normal business models rely on price discovery by market. A ton of other games only allow limited mints and save future minting for whenever the player numbers increase. We have a different model where you can continuously mint. In a market, price is discovered by the market itself, not some arbitrary value set by the LVM. Ideally LVM minting cost should always be higher than market cost, which means fair price has been discovered and LVM serves as a price cap.
Leaving aside your grand standing, the main point you are hanging on to is “it makes things more expensive for newer players”. While in an ideal world everyone can have everything, in real life people who do certain things earlier definitely accrue advantages. That’s the whole point - if you take risks early, you may or may not get rewarded. And in this particular case a reward is not even certain because so many things have to go well. This is just a small step in tightening supply till we have better macro conditions. No one is being greedy. If you’re a man of the markets, let price be discovered by the markets, not some arbitrary cap set by the LVM.
This was a thought I was having yesterday. What if team only had LVM live one day a month. Marketing could use this one day to push that Mint was happening. On that day the LVM would open and people with keystones could mint. During time when LVM was not live demand would pick up on existing lands. And when it was live players old and new could buy what they think they needed to play or planned to upgrade and sell. Just thought it would give marketing team something marketable. Requirements for minting could be said they one need to obtain a keystone to be white listed for minted event. Just a thought.
Oh interesting idea. Yea it definitely makes marketing somewhat easier since it can be centered around a “mint”. My only concern would be if people realize they can buy older lands for less and they’re pretty much the same, they might feel cheated.
If you check out land markets currently. They are tightening up. Specifically rare and hidden class. Barely any rares for sale and the floor is sharp. But yes dont want anyone feeling tricked. If corn drop is done thoughtfully and lands are made scarce and people seeing prices rise it may have benefit. The good thing about minting this way with limited window is no minting contracts are needed. Only LVM page set to whitelist address needed like when we have maintenance in game.
Normally I would side with you that we need to be careful about tightening the economy and making this more difficult overtime (referred as power creeping mechanics) which can affect our DAU and game adoption. But In the current situation someone can get the same a an early adopter for fraction of what we paid near game release. 25K at game launch is now worth about 800$ I would say so it make sense to re-balance pricing.
I would also add that minting land with the bonding curve is structured to give a valuation threshold. It also create arbitrage opportunities. While price discovery and lowering price to attract new players already happen naturally on open markets with people from running each others in general.
Personally would support and increase in LVM prices. Curious to see what’s gonna come out of it.
The LVM RBW Changes proposal has entered the council review phase. The result will be made available after 24 hours. I will update this thread once the review has concluded.
Total sRBW Votes: 94,733,241.83
% sRBW Participation: 53.77%
The results of the vote will be coordinated with the related teams and will be implemented in the next possible deployment. Further announcements will be made via the CM team. Thank you very much for participating in governance!
