Since the introduction of layer 2 wearables in the marketplace, more than 5,500 publications have been made. At the current publication fee, this process has burned over 5.5 million Voting Power which has been taken out of the ecosystem and lost.
I’m planning a proposal that will return this to the community. The objectives and anticipated results of this action are as follows:
Return VP to creators and supporters of the ecosystem and avoid punishing the community by burning VP they otherwise would have held if they did not sacrifice their MANA holdings in exchange for fancy clothes.
To restore faith in the democratic process of the DAO and encourage more participation in voting, while attempting to address the extreme imbalance of power in the system.
To prevent a further decline in value of Layer 2 wearables by encouraging users to purchase and hold the higher rarity wearables.
To ensure the continued funding of the DAO via the publication process.
It is important to note that this proposal will not generate any more Voting Power than what was burned in the publication process. In fact it will generate a great deal less, if passed. (Consider how many wearables were published at the 500 MANA rate before the change to 100 MANA was made) The goal is not to gain an advantage over long time holders of land or names, it is to bring a level of fairness to the DAO system that has never existed.
Grant VP to all layer 2 wearables with a rarity of EPIC or higher at a rate that is equal to their share of the publishing fee. I’m opting to leave items which are of a rarity Rare and below out of the proposal entirely, as the VP this proposal would grant is relatively insignificant. I am open to considering including them in the official DAO proposal.
EPIC: 0.1 VP
LEGENDARY: 1 VP
MYTHIC: 10 VP
UNIQUE: 100 VP
It’s apparent to most of the active community, who log in every day that Decentraland is dying. Many of us are taking an active role to attempt to mitigate this by onboarding, educating new users, and collaborating to find solutions to what is causing this mass exodus. The challenge isn’t going to be an easy one regardless of the outcome of this proposal, but it will be nearly impossible to overcome if some changes are not made. It is in the best interest of land and MANA whales to support this cause, because ultimately if the user base is non-existent, all assets will deflate until they are completely worthless. This isn’t intended to be a request for some act of charity, rather a formal request for some sort of appropriate action to be taken to restore confidence in an ecosystem that hasn’t been fair for a very long time.
Possible challenges/Points of contention
Compiling a list of every wearables contract address involved in the proposal and organizing it in a way that can be used to execute the distribution of VP for items that have already been published.
Solution: Nominate a member or team from the community to collect and compile the lists, so that the only need would be for the dev team to audit for accuracy.
Objections from early creators and investors in the ecosystem who published or purchased items at the 500 MANA publishing rate.
Solution: Isolate the items from those collections and grant them a higher VP amount than the others. I don’t think this is necessarily the best option and would encourage conversations to help objectors realize that some VP is better than none. It’s also important to keep this process as simple as possible, as it would already be fairly labor intensive
Convincing land and MANA whales that this is mutually beneficial to everyone, including the largest holders of VP.
Solution: Stress the importance of the democratic process of the DAO. Decentralization doesn’t just mean the power isn’t held by a single person or entity. It means that the power should be distributed in a fair way that gives everyone a voice. If the community feels the DAO is corrupt much longer, I sincerely believe we will find another virtual world to build and create in. There is no value in a dead and deserted virtual world and if the community dies, the value of the assets will die with it.
Thanks for your time, consideration and feedback. I look forward to publishing this as a pre-proposal poll in the near future. Any suggestions that could make this better are welcome!