The MANA spent when creating a wearable is not burned. When you assign VP from a source without a fixed supply it creates vulnerabilities.
I like the idea of offering the creator to burn or lock additional MANA at the time of creating their collection to “trade” it for VP. For example, creator offers to lock 100 MANA, it is transferred to some VP lock contract and snapshot can query balance from that contract for each address. It simplifies snapshot calculations and ensures the MANA can not be additionally used as VP. There should be appropriate limits on how much can burn at once and maybe total burned etc.
Bonus points, the DAO uses the locked MANA as collateral for loans and we yield farm our way to glory! Haha ok maybe not exactly but it would be cool to have some way to use the locked tokens outside of voting w/o releasing them.
I’m going to have to think on this one. There are major concerns with giving VP in exchange for publishing wearables. I do believe that wearables should hold VP in some capacity. Personally I would like to see the VP rewarded tied to the wearables token and not just given to the creator, but this is just my opinion.
I actually wrote up a very similar proposal idea in the forums almost 2 months ago, but it was a bit different. Because of similar concerns from leadership, I abandoned developing the idea further.
If interested, you can learn more here:
Edit: Mattimus mentioned the biggest concern I got when discussing my idea with leadership.
@pablo there is a working group in the DCL DAO discord right now for VP distribution, I would suggest this topic be discussed in this channel. We will be attempting to work with the DCL DAO Squad on all thoughts to find the best solution, and then bring to the DAO proposals to vote on it. At this time, I will forego my vote from this poll. But I do think we should explore this more, especially with what @mattimus has added in the comments.
oh yes, it’s good to discuss in DAO Townhall in 2 days, and good opportunity to come back and vote after the meeting, or to reformulate if this proposal spec doesn’t fit everyone opinions.
I commented this idea time ago on discord, and I know quite people likes it but was just forgotten, so I think it is good idea to bring it through a poll again when I saw helpimstreaming tweet.
About the inflation on VP, I don’t think this is a bad thing, as opposite to a currency, I think inflation in participation is good, specially from those really involved in the ecosystem by creating content, whose lose VP when they contribute with their content.
About locking MANA, if the paid MANA goes to wearables comittee and DAO, do you mean to have some extra MANA locked? I think is too much requirement for creators. About burning MANA, I still prefer that the MANA can go to builders, but maybe this is offtopic now and can be discussed in a “how to burn MANA” conversation.
I agree, inflation in participation is a good concept, but from an equity standpoint, this still leaves potential exploits for those with more money.
With regards to the locking, yes I meant offer the option to lock/burn additional mana on top of the existing fees, which will still go where they do currently.
L2 wearables not being capped and the mana for the submissions of these not burned would equal to uncontrollable VP minting, devaluing LAND and Name assets for the most part.
MANA and LAND is mostly hold by a few non DAO participant wallets.
The difference is to preserve the scarcity of LAND/MANA for VP power on a desert or more participation on a rich ecosystem, and yes preserving the scarcity is a valid point, but I still prefer the other side with more people involved, people that is activelly contributing, the impact of that VP will be like nothing compared with MANA/LAND total VP.
A quick/rough calc, from DAO transparency dashboard, there has been $35K in wearables submission fees in the last month, assuming it’s 30K MANA, being the marketcap of MANA around 2 000 000 000, it would be necessary 4761 years for wearable publication VP to reach the same VP than MANA
And if we are worried that big money budgets can get that VP, that entity should spend and send their MANA to DAO:
A quantity of wearables submissions unmanegable for the committee.
I doubt it would be interested in spending its MANA just for VP when it can keep the VP and the currency value.
Funds would go to DAO, more funds for creators/community.
Although I think is unnecessary and just make things more complicated, a countermeasure that can be brought in next spec if this proposal pass, is to define a limit of the VP that can be delivered to wearables creators, once limit is reached, the rule on snapshot can be changed to only evaluate collections with createdAt timestamp until that moment.
I have not done my calculations as to how long it would take to negatively affect the ecosystem but…
My point is for “1VP per mana spent in submissions” at current market prices I estimated it would take about 15 wearable submissions to have around 2100 VP which is 100 more than 1 Plot with 2K gives. I could easily mint myself some VP by submitting wearables instead of holding Mana or Land or Names, have in mind that most of the submissions after the first one are basically funded by previous submission sales. Also not counting some of us submitted at 500 mana per submission at one point. Funds are not burned, they go to DAO for submission expenses, grants, etc. creating an endless cycle of VP minting. I believe the intention of this poll is great and it should be further discussed.
I don’t believe L2 wearables are ready for VP perks just yet.
For a long time, I’ve believed wearable creators should get VP for creating Decentraland wearables. The assets they create add depth to self expression and it is essential we work towards fostering a strong community of wearable creators who are passionate about Decentraland.
I’ve tried to imagine ways this could exploited and haven’t come up with anything that is immediately concerning to me, but its possible I’m missing something. In the end, if an address were to create tons of wearables, they would need the Mana to do so. They could choose to hold the Mana and vote with it, or invest it in creating Decentraland assets. A successful wearable creator today effectively has a VP printer assuming the revenue of the wearable overcomes the initial registration fee.