Posts

DAO To Pay or Not to Pay SPS for Top Exchange Listings?

avatar of @gadrian
25
Adrian
@gadrian
·
·
0 views
·
2 min read

A pre-proposal is about to expire in a few hours where 20m SPS are requested from the DAO to fund exchange listings for SPS (possibly only on one major exchange).

The pre-proposal was failing yesterday in a major way and is on the verge of passing now:

Blockchain Founders Fund (BFF) put out this pre-proposal, and many commenters remarked the lack of details about the usage of the funds, answers to questions asked, as well as knowledge about who BFF was.

Apparently, the person behind BFF is long-time involved in Splinterlands both as an investor in the game as well as an advisor, Board member of the Splinterlands company, etc.

He was presented (seemed in a haste based on how the vote was going) during the last town hall, toward the beginning.

Whether that presence in the town hall has influenced the last hours' votes or not, I can't say. They certainly moved a lot, while many whales who voted 'no' remained in position.

The main takeaways from the conversation they had in the town hall, as far as I can relate it from memory:

  • major exchanges won't list without a fee (or more than one)
  • there are non-disclosure agreements that prevent them to make details public in a post requesting the DAO vote, including how much where it goes
  • if DAO doesn't fund exchange listings, nobody will (Splinterlands, the company, is not allowed to have any links to the Foundation)
  • fees are cheaper before the bull market starts and grow exponentially during the bull market
  • SPS will likely be dumped by the exchanges after they receive it (this wasn't phrased like this, but this is the idea - they can do whatever they want with the SPS - if anyone is hopeful, maybe they'll hold instead of selling)

The question is: is it worth a big chunk of the DAO funds to get listings on one major exchange, possibly with a few extra smaller ones? Is it worth the likely situation of the SPS paid being dumped?

I haven't voted either way. Yes, centralized exchange listings may still help to improve adoption, but it's a tradeoff, and voting either way needs to take into consideration all aspects.

I wouldn't worry about this pre-proposal passing. If it does, it has to be posted as a DAO proposal and go through a vote again. That's the real vote that will matter (unless the pre-proposal fails).