RE: Revamp Market Fees to Include 2% DAO Royalty
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I have a different idea now that some time has passed - and it is probably, radically different to what you have proposed:
How about we get rid of leaderboard DEC rewards being "new DEC", and do the following with DEC:
2% to Market Fees for SPL Running the API / Market
1% to the Buy Market
1% to the Sell Market
1% To the imaginary, proposed "Leaderboard Reward Pool", distributed as follows:
- Fill Bronze through to Diamond Leaderboard rewards up to the current cap in both modern and wild as the season progresses. Once these reward pools (from the 1% market fees, are "full")
- The remainder of the 1% of the reward pool "fees" go to champion (split equally, as the others would be, between wild and modern)
- Champ rewards (from market fees) are then uncapped, and are based entirely on that 1% of market activity.
In addition, abolish the ability for cards to be listed with less than a 5% market fee.
Pros: No New DEC generated
Cons: Potentially different rewards each season
In summary, for each 1 DEC of market fee:
0.2 to Bronze Until Full
0.2 to Silver Until Full
0.2 to Gold Until Full
0.2 to Diamond Until Full
0.2 to Champ (uncapped)
In the event that there is not enough DEC generated by market fees to fill for the reward pools, SPS is burned to obtain the DEC. DOn't know where that SPS could come from, maybe from the allocation for battle rewards?
I did some maths, and it looks like, with current market activity, we'd easily fill the reward pools with the DEC generated from market activity at the current volume levels.
It would also result in more rewards at the Champ end of the spectrum, while ensuring that no new DEC would be issued.
Perhaps its two birds with one stone.
Thanks for the time you put in to write this up, it is indeed a great idea! The original idea is that once SPS emissions end, the ranked rewards will come from the DAO which is funded by the market, but with your idea we can basically cut the SPS emissions now and use the DEC from the market fees to pay ranked immediately.
However, I do not want to change this proposal into that but I do think your idea has a lot of merit and will be a natural next step. I would just make one small amendment, and make it a rolling average of perhaps 10 weeks of DEC income, this way it will remove the con of potentially different rewards each season, there will still be variance but using 10 week moving average should reduce it significantly. This can be done by accumulating DECs 10 weeks prior to this update, then each season we distribute 10% of the rewards pool
Great improvements. I'd vote yes to a future proposal like this, and I hope the community would as well.