Yesterday I posted the data for Splinterlands, and one of the charts there is the data for the rent operations.
These operations are recoded on chain, and Splinterlands started charging a fee of one DEC per day.
The chart shows around 500k rent operation per day, that means 500k DEC is burned only for renting.
500k DEC per day, is 15M per month, or 180M per year. The current DEC supply is around 6B. 180M out of 6B is 3%. So a 3% reduction in the supply on a yearly basis from this. Every little helps :)
We will see how the actual numbers plays out.
I'm not sure that number is accurate. It doesn't burn one DEC per transaction. It burns one DEC per new listing. So if a card gets listed or changes it's price, there is a charge. If it just sits on the market at the same price and gets rented over and over again, there is no fee. So, in this situation, I would imagine a very large percentage of those transactions are cards that just sit at the .1 DEC price (or lower) and never move.
I'm not sure where you can find the ones that actually have a fee charged but...that's the number to look at.
In the meantime, the supply of DEC is no longer the issue. That is going to be taken care of shortly with the onset of Land surveying and staking of cards. This was done because there were getting to be way too many transactions and it was bogging down the servers and costing the team way too much to maintain them. We'll have to see how much of a difference this makes to that element of the equation.
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If there is no change in the price, there is no transaction to be recorded on chain .... cant say for sure a 100% but I think these are tx as you described them
If someone rents a card wouldn't that be a transaction that's recorded? Even if the card just got done being rented by someone else? In that case, there would be no DEC charged but I would think it would still have to be recorded as a transaction, wouldn't it?
This will have a massive impact overtime, it’s a great mechanism to burn DEC regularly! Can’t wait to see DEC back to peg for the SPS burning to start.
@tipu curate
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That's true, but man, it really does put into context how big the overhang of DEC is.
It's good for dec tokens. I list over 90 cards. So it should get dec back to peg !
This seems like absolute madness to me.... or not? I don't know? Good and bad things will come from this. But surely now the most logical thing that comes to my mind is that renting cards just got a lot more expensive? Which means new players cant rent cheap cards comparable to the rewards they get? How is this good for the game? Also sounds like a anti rental bot measure as well.