[DAO: QmZ8DGY] Should the Wearable Publication Fee Be Adjusted Weekly to Reflect a Set Fiat Value?

Governance
1

by 0xb9c4fd82a47df3b5864266a293a3516d484590b9 (Vulpixie#90b9)

Summary
This is a proposal to adjust the current wearable publication fee in light of the increase in value of MANA.

Overview
A wearable publication fee is important to disincentivize spam, promote high-quality wearables submissions, and compensate the members of the Curation Committee, among other things.

With the sudden rise in value of MANA, and the general volatility of the crypto market, a flat MANA fee can price both current and up-and-coming creators out of the marketplace.

Instead of a flat MANA fee, the fee should be based on MANA’s current fiat value.
When MANA was $1 USD or lower a 500 MANA fee per item was reasonable. However with MANA currently over $2 USD, paying 500 MANA upfront to submit a design is not possible for many creators.

By maintaining the 500 MANA fee the Wearables Editor becomes available only to established creators and others with deep pockets and excludes young and newer creators who cannot afford $1000 USD or more to submit a wearable.

Limitations
Having the wearable publication fee tied directly to fiat value would be complicated as value can change by a few pennies on any given day. Not only would this create a need for fractional MANA transactions, but it could have the unintended consequence of creators waiting for some ideal price to submit their designs.

The solution is to have a fee with a set value that is adjusted weekly.
At a set time once per week, the wearable publication fee would be set based on the current USD fiat value of the token, so that the fee is approximately $500 USD rounded to the nearest whole MANA.

This would eliminate the need for fractional MANA transactions and would keep the value of the fee relatively constant. Any dramatic change in value is corrected by the next week, allowing the fee to remain relatively constant regardless of changes in the value of MANA.

Proposal
This serves as a proposal to once weekly adjust the wearable publication fee so that the fiat value is approximately equivalent to $500 USD, rounded to the nearest whole MANA instead of a flat MANA fee. The Curation Committee’s compensation would be proportionally adjusted to remain at 10% of the fee.

  • Adjust the Wearable Publication Fee on a Weekly Basis to Reflect an Approximate Fiat Value
  • Adjust the Wearable Publication Fee at a Different Frequency to reflect an Approximate Fiat Value
  • Leave the Wearable Publication Fee at 500 MANA
  • Invalid question/options

Vote on this proposal on the Decentraland DAO

View this proposal on Snapshot

3 Likes
2

As a content creator I’m super glad you set up this proposal! :pray: :cloud:

1 Like
3

here is the funny thing about the 500 mana debate. it’s all our govs fault for continuing to print so much gov bucks inflation is making 500 mana and our cheeseburgers 3 to 20X the cost. remember the dollar menu and $5 dollar footlong? its them we should be sending the petition not decentraland. lol regardless, if this gets passed I want the difference sent back to me because I just paid the full 500 mana. knowing my luck tho i will be the one sucker that pays the 500 mana when its at its all time high lol

4

I think levying MANA to fiat is an awful idea and negates the purpose of a DCL token and community systems already in place to help support creators publish wearables. There is the DAO grant system that people can propose to the DAO and be given the 500 MANA for publishing regardless of it’s fiat value.

Like I mentioned in the discord channel; you can’t say ‘MANA = MANA’ when submitting a wearable was the equivalent to $175 and ‘MANA = Fiat’ when it spikes to $1500 etc… That is the whole purpose of the DAO grant proposal system, to empower the tokenomics. This concept is above the hypothetical ‘quality control’ of the submissions, it’s more so about the sanctity of a crypto token.

1 Like
5

The problem with seeking grants to cover the wearables submission fee is that a not insignificant portion of that fee actually funds the grant program. And the purpose of the grant program is to fund programs that benefit DCL and the DAO as a whole (such as GolfCraft or ACR’s grants), which a grant solely for wearables does not really do. If you read the proposals for the implementation of the fee, and the curation committee, you’ll understand that the idea in the first place was to set it as a reasonable cost, with the intention of adjusting as needed to keep it generally accessible. And what would cause the need to adjust? A significant change in the fiat value. And what would be used to determine what it such be adjusted to? Fiat value. Land and wearable sellers are already adjusting their MANA prices lower because of the rise in fiat value of the coin. MANA cannot be completely divorced from fiat until it is primary currency on the planet, until then the fiat value will always inform how much MANA something is listed for. And setting the fee for creators to an approximate fiat value does nothing to change 1 MANA = 1 MANA, it just expedites any future adjustments to keep the fee accessible to small and indie creators while still allowing that fee to pay the Curation Committee and fun the Grant Program

1 Like
6

The idea behind the fee was to both cover infrastructure expenses (items live forever in the catalysts) and the time of the technical reviewers. Infra bills are in USD, and people’s bills are on fiat as well, so a salary that gets reflected in USD terms seems way more sustainable for curators/reviewers to be able keep working and paying their bills no matter what the markets look like. I’m glad this proposal passed.

1 Like
7

Should the Wearable Publication Fee Be Adjusted Weekly to Reflect a Set Fiat Value?

This proposal has been PASSED by a DAO Committee Member (0xfe91c0c482e09600f2d1dbca10fd705bc6de60bc)