Opening discussion for a feature that would improve upon the current methodology used in Bazaar pricing listing.
Idea: Use a stablecoin notation for listing wearables, potions, and anything else listed in the Bazaar so that listings publicly show a set value without being subject to GHST volatility. GHST would still be the token paid out for facilitating transactions to retain the utility of the token, but listings wouldn’t fluctuate in their displayed price. The benefits from this are as follows:
- A more simplistic view of price tags would be beneficial to the efficacy of the marketplace.
- Relisting goods would become less of a necessity in the event of price movement. On aggregate, this would allow sellers to retain more GHST tokens and remove an inefficiency by eliminating more transactions than what was originally needed.
- Both buyers and sellers would benefit from a more dynamic, instantaneous price adjustment mechanism by paying a mutually agreeable amount of GHST based on a stable representation.
I do believe that there are potential negatives to this idea, one maybe being that the utility of the GHST token will be viewed as less because things aren’t automatically quoted in the governance/utility token, but the efficiencies of a dynamic converter would still facilitate the same utility of GHST while providing a more efficient pricing mechanism.
Technically, I’m not sure about implementation. Let’s discuss Frens.