Decentraland Name Claiming Backed by USD set to $5 worth in MANA tokens.

by 0xbc02db030361121dd43bbb2fcbcb4f9f98c1dc7d (Feisty)

This one took me a while but I think I finally figured it out.

There are many associated reasons as to why new (guest) users are not claiming names. One of them being the overall costs involved. Don't think for a second it's only 100 Mana. We now have to approve, authorise, revoke and confirm. On top of all this there a a rising cost of ethereum gas fees. Yesterday I've minted a name for 100 Mana, which at the time was $43. All other costs including gas, revoke, approve, authorise cost me another $30 on top. (you can see it on ethers scan from my transactions)

I don't see how this current model is variable or sustainable in the long run. With the bull market returning to NFT's, Crypto, Web3 & the Metaverse, we can only expect to see higher network gas fees.

My solution is to lower the name minting to $5 USD in Mana. Say for example if mana is $5, it will only cost 1 mana token to mint a name. So it has to be variable/adjustable according to mana price at that given time.

All exisiting name owners/holders (if this proposal is accepted) will keep 100 VP.

All new name owners/holders (if this proposal is accepted) will be awarded 10 VP per name regardless of the price. This is mainly due to; a) Claiming names for $5 compared to $55 b) Incentivising new users to claim names and get involved with DCL on a lower scale/budget and encouraging users to participate in the DAO

As the second largest names holder and someone who claimed names for $500 (when mana was $5) I really believe this is needed.

Please Vote; Yes or No

• Yes
• No
• Invalid question/options

This proposal is summarized due to technical limitations. To view it complete and vote on it, visit the DCL DAO Governance dApp