In Splinterlands the DAO treasury us used to fund so many game related activities and one of them was to boost up the Soul Keep launch. But the party seems to end sooner then expected through a DAO proposal of halting the Soul Keep rewards. Why? Because this aims to address the numerous concerns that have been growing amongst the DAO stakeholders as they relate to the Soul Keep game and the SPS rewards allocated for it. There are abusive farming tactics in the game which are not only draining the DAO funds, but also add selling pressure on the Splintershards (SPS) price as well. In order to keep the Splinterlands game healthy and to ensure sustainably the DAO Treasure needs to be used wisely. And I think this is a step towards that.
Here is the content of the SPS Governance Proposal - Halt Soul Keep Rewards as edited just few days ago on 11/8/24.
The board decided to skip the draft phase after gathering more feedback on the situation. They feel this exploit warrants a swifter response.
The purpose of this proposal is to address the numerous concerns that have been growing amongst the DAO stakeholders as they relate to the Soul Keep game and the SPS rewards allocated for it. The Double Coconut team has been working to address concerns as they are brought up, but many DAO users do not feel that enough is being done to combat abusive farming tactics in the game and feel that rewards should be halted until the game is more mechanically sound.
If this proposal passes, the SPS DAO will stop all SPS rewards that are currently being issued to the Soul Keep game. Double Coconut will be able to appeal this decision once the game has been developed further and the community feels that the exploits have been properly resolved.
A new proposal may be put forth at the request of the Double Coconut team once the development of the game is further along. The proposal should detail what steps have been taken to address the concerns and limit abusive behaviors and the DAO will have to vote on whether or not it would like to reenable the rewards.
The proposal is already in voting mode by the SPS stakeholders and it will end soon. The required votes to pass stand at 93,224,308, while the For upvotes are at 50% (170,838,419). This means that the proposal will probably Pass and the allocated SPS will return back to the DAO. Will the SPS rewards be resumed in Soul Keep game? They might be at some point, but that should be under strict control and measures to support against farming. What will that mean in terms of development it remains to be seen and if too hard to do it, probably Soul Keep will need to fly by itself moving forward. It is not necessarily bad as considering it is a separate game, sustainability needs to be ensure from within.
I view the use of DAO treasure as a mechanism to ensure the growth and development of Splinterlands. In the same time, as a SPS stakeholders, I would like to see the DAO treasure funds also grow through supportive investments and financial schemes. I wouldn't mind to get ownership on some Ethereum or other significant tokens from it. But as the game needs development, it should support that and strengthen its tokenomics. This way the Splintershards (SPS) value will improve which will benefit us all.
Here you can Join Splinterlands as well and Fight the Good Fight: https://splinterlands.com?ref=sm-goldies
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Proposals need 66.7% to Pass. Click the "i" next to "Votes to Pass". That's the number of SPS needed to vote on the Prop for it to qualify as a passable Prop. It looks like the Prop will fail. The SK team already halted the rewards and are working on a plan to resolve the issues they are having with the rewards and other issues. It will probably include a full reset of all accounts back to Level 1.
I understand and thank you for the explanation. It is good that the DAO takes measures to protect its treasury as it is imperative for the game sustainability.
The SPS for Soulkeep wasn't coming from the DAO Treasury.
It was the allocation for the Team, who then decided to allocate it to Soulkeep.
The DAO was intervening due to the abuse of exploits and Reward Distribution issues.
Double Coconut has responded and hopefully we get to see some fair results because of it :)
That's good, we need to nurture the SPS tokenomics.
I agree - the way things were structured was allowing for abuse and exploitation.
I hope the way they are restructuring it... that solves those problems.
Either way - I'll be there writing about it 😁
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