Motivation: MANA has reached critical mass in terms of “making it.” With the new DAO we are going to see explosive growth in DCL. This actually creates a tokenomic structure from a value perspective that values holding MANA more than holding LAND. As long as MANA is deflationary, and MANA price increases, LAND will be worth (generally speaking) less and less MANA as time goes by. This is actually backwards. LAND is the most valuable asset in DCL and should grow in MANA value.
I propose we recalibrate the tokenomic structure where MANA used for NAMES gets distributed equally to LAND owners instead of getting burned. This will equalize the incentive structure for owning the most precious asset in DCL…LAND!!
This structure will provide revenue for LAND owners to build on their LAND and support the growing ecosystem.
Fast forward a few years where DCL is the premier metaverse and millions are participating on a daily basis. Think of all the NAMES that will be created and all the MANA that will be burned. It just doesn’t pass the tokenomic eye test that MANA will get burnt to a very small level and LAND will be work only a few hundred MANA per parcel. That’s where I feel we are headed in this current setup. We should do something now.
Here is my summary:
No more deflations (We are going to need these tokens)
Get them back into the economy (LAND owners)
Get our most precious asset in the metaverse, LAND, on the proper side of the incentive scale.
We can collectively figure out the details later in an official proposal but this needs baseline support before we dive in on a granular level. Lets have the discussion!
Bottom line: If someone holds 25k MANA right now vs LAND that is currently sellable at 25k MANA, in 5 years that 25k MANA should not be able to by that same piece of LAND for 25k MANA. The LAND should be worth more MANA. Right now, that won’t be the case.