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WizardsDAOWizardsDAOby0x58Ca5067c7371926a361c8e8745927AB6B7256E0sorbs.eth

Reduce auctions to 1 Wizard a day

Voting ended almost 4 years agoSucceeded

==Timeline== As soon as the proposal passes a member of the DAO will begin working on modifying the current code to only auction 1 Wizard a day

==Description/Motivation== When we started the project, we obviously modeled our distribution off of Nouns but wanted to increase the rate at which we grew in the beginning. This allowed for our community to grow fast, and we're now at a good amount of Wizards with a good chunk of really active members. We can reduce the auctions to 1 a day to slow the increase of daily Wizards and hopefully increase the capital from each individual NFT.

Luckily, we are more flexible than Nouns in this regard, and in the future can go back to 3, or 5, or change distribution how we please.

Previously we reduced auctions from 5 to 3 Wizards for similar reasons, now I think we should reduce to 1 a day

I believe we are now at a very good chunk of Wizards and can start some serious building/execution with our current members. ~25 of which are VERY active.

Initially the 5 per day was an experiment: we thought it could either do well or horribly for prices. But in the end it seems auctioning 1 a day is probably more ideal. Auctions are very emotion based, and having only 1 a day increases FOMO, decreases comparison to the other 2, and puts more pressure on each day.

My thesis is that 1 Wiz per day will increase the price of each individual NFT. This also allows for more purchases on our OpenSea since the floor there is around ~0.2 as of right now.

==Action Items== Get a member of the DAO to modify code to auction 1 Wizard a day instead of 3

Off-Chain Vote

Yes, change to 1 Wiz per day
98 WIZ88.3%
No, keep at 3 Wiz per day
13 WIZ11.7%
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Timeline

May 03, 2022Proposal created
May 03, 2022Proposal vote started
May 06, 2022Proposal vote ended
Oct 26, 2023Proposal updated