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SkateHiveSkateHiveby0xB4964e1ecA55Db36a94e8aeFfBFBAb48529a2f6cskatehive.eth

[Gnars - 8] Proposal to Increase the reserve price in the NFT Auctions on gnars.wtf

Voting ended over 2 years agoSucceeded

Proposed by thejasper.eth (0x6dfdca1107c5af4b92948625105e1e87ba9b21b4)

TL;DR

Experiment increasing reserve price by 0.01 ETH

Intro

Currently, the minimum bid for NFT auctions on gnars.wtf is set at 0.01ETH. While this has allowed for affordable bidding, we have noticed instances where valuable NFTs have not received bids that truly reflect their value. By raising the minimum bid, we seek to address this issue and encourage participants to bid more accurately, benefiting the DAO and its collectors.

Reasons for increase:

1. Improving Long-Term Sustainability:

A higher minimum bid should result in increased revenues for gnars.wtf. These funds will strengthen the platform's treasury, supporting community initiatives, events, grants etc.

2.Strengthening the Treasury:

Currently the success of gnars and popularity of the dao's proposals, the treasure outs happens faster then treasure ins. Unabling us to support people, places and things as the current demand. Increasing the reserve price should helpes us to attend this demand better.

3.We had increase the benefits of the Gnar Token

Originally 1 Gnars = 1 Vote on the dao. Nowadays when you purchase a Gnar you get the vote and you get an extra Gnar HD, plus X votes in Thatsgnarly and more gating priviledges then before.

Extra arguments

  • Due to high gas costs of bidding, bidders likely don't care whether the minimum bid is 0.01 or 0.02
  • Most gnars sell for at least 0.02 ETH already according to etherscan Transaction
  • This proposal will set ReservePrice from '10000000000000000' to '20000000000000000'

This will make the inicial auction price raises to 0.02 ETH.

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Off-Chain Vote

For
346 VOTES84%
Against
66 VOTES16%
Abstain
0 VOTES0%
Quorum:103%
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Discussion

SkateHive[Gnars - 8] Proposal to Increase the reserve price in the NFT Auctions on gnars.wtf

Timeline

Aug 29, 2023Proposal created
Aug 29, 2023Proposal vote started
Aug 31, 2023Proposal vote ended
Oct 11, 2024Proposal updated