Should the Wearable Publication Fee Be Adjusted Weekly to Reflect a Set Fiat Value?

by 0xb9c4fd82a47df3b5864266a293a3516d484590b9 (Vulpixie#90b9)

Summary This is a proposal to adjust the current wearable publication fee in light of the increase in value of MANA.

Overview A wearable publication fee is important to disincentivize spam, promote high-quality wearables submissions, and compensate the members of the Curation Committee, among other things.

With the sudden rise in value of MANA, and the general volatility of the crypto market, a flat MANA fee can price both current and up-and-coming creators out of the marketplace.

Instead of a flat MANA fee, the fee should be based on MANA’s current fiat value. When MANA was $1 USD or lower a 500 MANA fee per item was reasonable. However with MANA currently over $2 USD, paying 500 MANA upfront to submit a design is not possible for many creators.

By maintaining the 500 MANA fee the Wearables Editor becomes available only to established creators and others with deep pockets and excludes young and newer creators who cannot afford $1000 USD or more to submit a wearable.

Limitations Having the wearable publication fee tied directly to fiat value would be complicated as value can change by a few pennies on any given day. Not only would this create a need for fractional MANA transactions, but it could have the unintended consequence of creators waiting for some ideal price to submit their designs.

The solution is to have a fee with a set value that is adjusted weekly. At a set time once per week, the wearable publication fee would be set based on the current USD fiat value of the token, so that the fee is approximately $500 USD rounded to the nearest whole MANA.

This would eliminate the need for fractional MANA transactions and would keep the value of the fee relatively constant. Any dramatic change in value is corrected by the next week, allowing the fee to remain relatively constant regardless of changes in the value of MANA.

Proposal This serves as a proposal to once weekly adjust the wearable publication fee so that the fiat value is approximately equivalent to $500 USD, rounded to the nearest whole MANA instead of a flat MANA fee. The Curation Committee’s compensation would be proportionally adjusted to remain at 10% of the fee.

• Adjust the Wearable Publication Fee on a Weekly Basis to Reflect an Approximate Fiat Value
• Adjust the Wearable Publication Fee at a Different Frequency to reflect an Approximate Fiat Value
• Leave the Wearable Publication Fee at 500 MANA
• Invalid question/options

Vote on this proposal on the Decentraland DAO