DAO Proposal #6: Adjusting the SGEM Cost for Crafting PYM

Author by Playermon Team

28 August 2024 - 12:00 pm

cover

Overview

This proposal aims to address the current economic dynamics of Playermon token, PYM, by adjusting the crafting cost associated with converting SGEM to PYM. The primary goal is to strengthen the value of PYM, reduce selling pressure, and make the token more appealing to holders and players within the Playermon ecosystem.

Voting Period

  • Snapshot on 30 Aug 2024 1000 UTC
  • Begin on 30 Aug 2024 1200 UTC
  • End on 1 Sep 2024 1200 UTC

Background

In the existing Playermon economy, the crafting cost for converting SGEM into PYM is set at 2000 SGEM per 1000 PYM. While this has served the community well, recent market analysis and feedback suggest that adjusting this ratio could benefit the long-term value of PYM by increasing scarcity and rewarding committed players. This proposal is brought forward to the DAO to ensure that the community has a voice in this critical economic decision.

Proposal:

We propose three options for the new crafting cost, which the community will vote on:

Option 1: Maintain the current rate of 2000 SGEM per 1000 PYM

• Will not address the problem of selling pressure

Option 2: Increase the crafting cost to 5000 SGEM per 1000 PYM

• Moderate increase in PYM scarcity, potentially raising its value and reducing market sell-off

Option 3: Increase the crafting cost to 10000 SGEM per 1000 PYM

• Significantly increase in PYM scarcity, significantly raising its value and appeal to long-term holders

Option 4: Increase the crafting cost to 20000 SGEM per 1000 PYM

• Greatly increase in PYM scarcity, greatly enhancing its value and appeal to long-term holders

Implementation

The proposed adjustments to the reward structure will be implemented on 1 Sep 2024 after the DAO voting is concluded. Kindly be sure to craft any SGEM in hand to prevent the changes in the value of SGEM.

DAO Page

https://dao.playermon.com/#/proposal/0x275e400422916262d791c55278fdcec183f68afb3479af400ea81b32cd192e3c