[DAO:89af6f8] Decentraland Name Claiming Backed by USD set to $5 worth in MANA tokens

by 0xbc02db030361121dd43bbb2fcbcb4f9f98c1dc7d (Feisty)

This one took me a while but I think I finally figured it out.

There are many associated reasons as to why new (guest) users are not claiming names. One of them being the overall costs involved. Don’t think for a second it’s only 100 Mana. We now have to approve, authorise, revoke and confirm. On top of all this there a a rising cost of ethereum gas fees. Yesterday I’ve minted a name for 100 Mana, which at the time was $43. All other costs including gas, revoke, approve, authorise cost me another $30 on top. (you can see it on ethers scan from my transactions)

I don’t see how this current model is variable or sustainable in the long run. With the bull market returning to NFT’s, Crypto, Web3 & the Metaverse, we can only expect to see higher network gas fees.

My solution is to lower the name minting to $5 USD in Mana. Say for example if mana is $5, it will only cost 1 mana token to mint a name. So it has to be variable/adjustable according to mana price at that given time.

All exisiting name owners/holders (if this proposal is accepted) will keep 100 VP.

All new name owners/holders (if this proposal is accepted) will be awarded 10 VP per name regardless of the price. This is mainly due to;
a) Claiming names for $5 compared to $55
b) Incentivising new users to claim names and get involved with DCL on a lower scale/budget and encouraging users to participate in the DAO

As the second largest names holder and someone who claimed names for $500 (when mana was $5) I really believe this is needed.

Please Vote; Yes or No

  • Yes
  • No
  • Invalid question/options

Vote on this proposal on the Decentraland DAO

View this proposal on Snapshot

another RIP? geezuz :man_facepalming:

I am voting NO and I love, really love buying names. I have never been swiped last minute around minting a name so there has never been a rush for me to mint a name. I just wait until gas is low and then I buy the name. On average it has cost me $40 all encompassing, with Mana prices a little higher recently it is closer to $50 with all fees included. Still cheap IMO.

1 Like

Same prop, probably wise to expect same results

Please understand that she is pointing out new users. You might be able to wait because you have experience, but new users won’t wait as the high costs lead to missing out, and once gone, it’s gone.

Decentraland Name Claiming Backed by USD set to $5 worth in MANA tokens.

This proposal is now in status: FINISHED.

Voting Results:

  • Yes 1% 570 VP (29 votes)
  • No 98% 5,574,599 VP (74 votes)
  • Invalid question/options 1% 62,486 VP (3 votes)

Decentraland Name Claiming Backed by USD set to $5 worth in MANA tokens.

This proposal has been REJECTED by a DAO Committee Member (0xfb1afa4dc069ffb47b19dbee196045d508fcd5a2)