2933fc516aa5f8305f1035085523ac174d4046e4
Proposal:
This proposal is a derivative of a previous proposal that sought to achieve an exchange listing with Binance. It is my opinion that the original proposal (before amendments) captured the true will of the community and I believe that will can be acknowledged here in this proposal, which is mostly a copy of the original without amendments. We should not let the opinions of a few whales dominate the direction of the game. A vote for this proposal is a clear signal to the DAO and to the team that we want to pursue an exchange listing NOW and without delays.
Edit: As suggested by some members of the community, I will make it clear here. A vote for this proposal will nullify the previous proposal linked above.
The purpose of this proposal is to establish a functional budget to pursue both a market maker for the SPS token and to pursue a top tier exchange listing. There is no way to be certain of success in the pursuit of a centralized exchange listing, but by apportioning the funds and establishing some general guidelines for how the DAO would like to pursue a listing if one becomes available, we would allow for the necessary conversations to advance those opportunities to be able to take place.
@clayboyn has already made a very detailed post explaining a lot of the basics about market makers and exchange listings, so if you would like a better understanding of what our options are and how they function, that's a good place to start. Please keep in mind that exchanges generally require NDAs to even have a conversation with them related to listing a token. There is absolutely zero chance we get and maintain a top tier listing without a market maker.
If this proposal passes, the Unallocated portion of SPS that was formerly allocated for Team (270 million SPS) will be authorized to be used by the SPS DAO to negotiate and potentially pay for exchange listing fees, liquidity deposits and marketing fees as well as market maker fees and deposits that may be required to list with a top tier exchange. These funds will not be available to be used for any other purpose for the duration that this proposal is active without a vote to explicitly remove the authorization.
The SPS DAO will allocate a budget of up to $500,000 of SPS and/or stable coins to hire a market maker and provide the necessary liquidity to operate on high volume exchanges. At this point with the SPS token having so much upside potential, it would likely be in our best interest to hire a subscription based market maker instead of selling token options to a lending based market maker. Not all of this would be a spend and it's unlikely that all of it would need to be used, the intent is to simply authorize a budget for the SPS DAO Project Manager to negotiate with.
The SPS DAO will also allocate a budget of up to $2,500,000 of SPS and/or stable coins to pursue a listing with Binance. The funds are not authorized to be used for any other centralized exchange listing. There is no way to be assured of success in the pursuit of an exchange listing and it should be known that the terms of any deals will be under NDA contracts. The intent is to simply authorize a budget for the SPS DAO Project Manager to negotiate with and not a guarantee of results.
If this proposal passes, the budget authorization outlined above will expire 365 days after the date this proposal passes.
Raising the budget ceiling
It is entirely possible that prevailing market conditions will be very different at the future time when the SPS DAO Project Manager decides to utilize the budget set forth herein. If, upon making a careful determination of listing requirements at the time, the SPS DAO Project Manager decides that the authorized budget is not sufficient and a higher budget is needed, then a new DAO proposal vote will be required to raise the budget ceiling.
Responsible use of funds
The SPS DAO Project Manager should strive to negotiate as good a listing deal for us as he can, and if it can be helped not spend the entirety of the funds authorized for use by this proposal. It's important to realize that the budget set forth herein establishes a maximum limit of what CAN be spent, not an exact amount that MUST be spent.
Wow, that's a lot of money!
Yes. Yes it is. Go big or go home. There is nothing to gain in life without risk, and I believe this is a risk worth taking given the potentially large benefits and visibility of being on a tier 1 exchange. It is a large amount, but it is a manageable expense and will not bankrupt the SPS DAO. We will still have a large treasury left over.
Why now?
Splinterlands has existed for several years already, and we are struggling to expand & attract interest from the broader crypto community. We need to kick things into high gear. I believe being on a tier 1 exchange will greatly increase our prospects for doing so, following the success of other web3 games such as Axie Infinity. It's a step we must take at some point to increase our visibility, and if not now, then when? How long should we keep kicking the can down the road? I say, let's strike while the iron is hot and be a part of the new bull run!
Who am I?
I'm an active member of the Splinterlands community and have been invested for years. Sorry, I am mostly an occasional lurker in Discord. I felt this issue was too important to stay silent about and I wanted to do something about it, so here we are. I want to remain anonymous for the purposes of kick starting this initiative. That will have to satisfy you.
Have fun voting everyone, and pass or fail, I look forward to seeing how many of you agree with my sentiments!
I went ahead and just switched my votes to NO on both proposals to make it easier.
I definitely don't want the second proposal to pass with no protections. I was willing to work with the original anonymous proposal writers to hammer out a solution to protect the future on the 1st proposal.
But now I can see that compromise was meaningless.
I do appreciate you doing what you need to do @mantis1 , its certainly a great feature of the DAO that you can get your proposal voted on. I would never be mad at you for bringing up the proposal, just like I hope people aren't mad for me voting my stake for what I think is right.
We will see how this goes, and in some ways while I'm nervous if we make a reckless mistake with our available funds, I'm actually excited to see how we vote as a community on both proposals. It will be very helpful in figuring out the future path forward we will take.
that doesn't logically make sense because both proposals are different. One is locked behind 10 months of preparing which is what I went for. This one will not pass. You don't have to change votes out of fear.
If it was either or, then I would agree. But its not at all the case... This creates a situation where the first one can pass, then the 2nd one could nullify the first one. Which is intended of course, and what some of the more ardent supporters would like.
I'm not comfortable at all with this option and a compromise means that both sides give up something to get what they want. However, with this vote popping up and seeing the reaction, I see it NOW as me giving up a lot and potentially getting no assurances that we will manage both the budget and the process in a responsible way.
So with nothing to gain and everything to lose, I hope they both don't pass. And then we can try again with another 3rd proposal if people want. Of course, for all I know they both might pass and I'm very much in the minority, I realize that is possible as well.
I'm really hoping there isn't a third proposal. Every one of these causes more people to leave the game and none of them are bringing more people in. It's to the point where every time I see a new proposal I expect to lose a few thousands more dollars in card value no matter what the proposal is.
Yes I agree that we've devolved to this stage.
I suppose you mean "If this proposal passes it nullifies the previous proposal". If you please make that more clear since you can´t nullify a single vote.
I take a bow that you burned like 80$ of your personal money for this proposal, however the first proposal was exactly the same. It was changed and softend down because it has zero chance of passing otherwise.
This proposal will not pass and there have been a lot of hours put in into the amendments of the first one to give it some chance of passing.
disclaimer:
I personally have not yet decided on the first proposal and may just abstain.
I am wondering why nobody is asking why the proposal we passed over a year ago had zero results or feedback and refuse to take any action on a potential listing without knowing why that initially didn´t work.
Negotiations last time were bound by an NDA. I tried to find out as many details as possible but yeah.
The SEC went after major exchanges shortly after the first proposal passed which caused many tokens to be delisted and scrutinized as possible securities. SPS spent those months dropping 80% from 8 cents to 1.3 cents. So the amount of SPS earmarked for a listing no longer represented enough value to get the job done. Besides that, if there were any negotiations they would have been done under an NDA.
thanks for the information
i would like to go into what i think is an important detail, maybe this has already been discussed and reorganized and i just missed it. my last update is that clay is not authorized to negotiate/sign such a deal, only aly can do that. but aly did not arrange a listing in the last deal, but still misappropriated money from the proposal at that time. so i would like to know if this basis has been reorganized at all. or is it all the same and we are just wasting our time here with the discussions?
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STOPSorry, this and the other proposal being Binance only makes this a NO for me and many others.