Hello, here is an idea I’d like to submit.
Sometimes you need quick GHST and you can’t afford to wait for your precious wearables to finally sell.
Two ways we could solve this.
OPTION A : you BURN the item, and you immediately get GHST (amount to be discussed). This would increase wearable rarity over time.
OPTION B : you put the wearable at an auction (with or without a reserve price). People bid GHST, winner pays a fee to the treasury, everyone is happy. Obviously, the item is not burned in this scenario, so the rarity is left intact.
In this discussion, I suggest we focus on option A, as I believe it is the more interesting approach. Feel free to start a poll between A and B though.
How to calculate the amount you get for burning the wearable?
Someone suggested a % of the store value, something like 70-90% of the store value. Price shouldn’t be too low though, otherwise it will be too painful and no one will ever do it Probably 90% of store value is low enough. We could add some randomness to it (“anywhere between 90 to 95% the store value”) for impredictability (might be a deterring mechanism against abuses?).
But i’m concerned using store price as a basis might be too low. Imagine getting 1500 ghst for burning a mythical you paid 8000 : it seems problematic). Any idea ? Aim is to be able to get a fair discounted price somehow.
On the other hand, if you don’t want to get such a low price and you can wait a bit, you still can try and get a better price in the bazaar. Burning is only if you can’t wait (or don’t want to).
Where would the GHST come from ?
Realistically they would come from treasury.
An unlikely attack scenario could be people burning lots of items to siphon the treasury but
- That’s probably unrealistic : it would be extremely costly to do so (you’d have to buy the items and you would get less than what you paid for)
- A hard limit could be set (“no more than [tbd] GHST distributed like that per day in total”)
Foreseeable consequences would be:
- an increase in rarity (value) for wearables and complete sets over time. Some mythicals could become as rare as godlikes. That would be a reason for people to hodl longer, as long as they can (less items put for sale, increasing bazaar price faster).
- improved GHST mobility, hence probably more bazaar fees for treasury
- some sets would eventually become impossible to complete (making gotchis with complete set very desirable, and other sets more valuable)
- it would counteract (to a certain extent) dilution caused by introduction of new wearables
If it’s approved, it would be interesting to be able to track items burned and remaining quantities of a given item. It would greatly accelerate the game theory dynamics around wearables.
What do you think about this? Let’s discuss.
Sidenote : do I need to link my account or something ? First time I do that in a Dao.
Also : not a native English speaker.