Our current idea about how dead-land-ping would work follows:
- Every address gets a “timer”. This timer resets to zero whenever one of the LAND owned by that address gets transferred, either by itself, or by an authorized Operator.
- The rule for decaying LAND is not related to Content Deployments. Those are off-chain, thus it can’t be linked on-chain (although in the future something could be done regarding that)
- Whenever the timer for an address gets to X amount of time (maybe 1 year, maybe 18 months?), all the LANDs owned by that address go to an auction. There’s plenty of time for warnings and notifications (calling a “ping” function would cost only ~10 cents of eth gas at current relatively high eth fees).
- The proceeds of that auction would get distributed in the following way: 80% goes to the “inactive” address; 20% gets burned. So, if after 5 years you find your private key, you don’t get the NFT but at least you get the market price
- The auction would be a decaying price Dutch auction. This has the advantage of being somewhat efficient at finding the actual market price for that LAND
- if you transfer 1 LAND, or add it to a Estate, that resets the timer for ALL the LAND you hold on that address. That makes it very easy to refresh the timer. In fact, almost all active users deploying have transferred or sold at least one LAND in the last year