Currently there is a listing fee of 0.1 GHST paid anytime a new listing is created in the Baazaar. The entire fee is burned. It is sent directly to the 0xFFfFfFffFFfffFFfFFfFFFFFffFFFffffFfFFFfF address.
There have been over 22,761 listings created for Aavegotchis and portals in the last week.
There have been over 16,832 listings created for items and wearbles in the last week.
With so many listings being created and the prices these things are sold at it makes sense to me to raise the listing fee from 0.1 GHST to 1 GHST, and of course burn it all. It is good for GHST tokenomics.
People (including myself) need to constantly delist and relist new NFTs on the bazaar bcs currently there is a limitation on how many items can be shown on the front-end
→ Currently of 90 for the “Aavegotchi” and “Wearables” parts
It will better to first introduce a bazaar-upgrade so the bazaar doesn’t have any display limits before introducing a 1 GHST fee per listing.
this is a feature that should be rolled out with shop search improvements in my opinion. like sorting/filtering options to allow for a more efficient seller experience first
I’m neutral on this proposal, but I just want to echo @Psychonaut4975 's concern, as the way the Baazaar is currently set up all but necessitates periodically relisting your assets for sale for them to remain displayed.
I think this is a perfectly reasonable proposal to implement, once the Baazaar UI has been fleshed out and the experience is more akin to shopping on Opensea. Another option would be a variable fee to be burned, rather than a flat 1 GHST fee. Items or wearables listed for less than 100 GHST could still be charged 0.1 GHST listing fee, while 100-1000 GHST items might have a fee ranging from 0.1-1 GHST, and maybe 0.1% of listing price gets burned for >1000 GHST listings.
I think that raise the listing fee to 1 GHST isn’t a good solution for the system tokenomics. The price of GHST is determined by the bounding curve. The more GHST there are, the more the price of GHST will raise and so GHST will acquire more value.
If the propose will be accepted (hard to make it) I agree with @Psychonaut4975 to wait a Baazar upgrade.
Burning GHST causes more to be created since the burnt GHST can’t be used. Our burn doesn’t lessen the amount of GHST in existence, it lessens the amount of GHST that can be accessed and used.
While I very much agree with this proposal. I feel the Baazaar needs some improvement before it is implemented. The reason owners have to revise their items is because there are not yet any filter or sort capabilities so their items are either unseen at the bottom of a 90 item list, or disappear altogether. Let’s implement the higher listing fee and lower sale spamming after the Baazaar mechanics have been built to help both buyers and sellers.
Agree. 0.1 GHST to list + % of sale is burned. That seems reasonable as far as the macro for GHST and if we start seeing in a couple months we can discuss increasing/decreasing listing fee or sale %.
Or propose totally new thing, but there is already a nice system in place. Maybe just needs tweaking as we go and during high/low usage periods.
I understand why you suggest this proposal. But I disagree with you now.
It might be helpful for tokenomics but It can decrease the bazaar activity.
As you know, though Aavgotchi has launched successfully, there are not many functions and games that have been planned; Aavegotchi Realm, minigame, and etc. In this situation, raising GHST fees is not effective cuz there are not enough planned function, only petting and sales. I am worried that this proposal might disrupt activities. It seems to be early to do.
In this case I reconfirm that we have to wait a Baazaar upgrade before doing things like this.