Core Proposal: AGIP6 - Add 0.5% Fee on Baazaar to Support Rarity Farming

Author: JG#7031 Gotchi ID: Red Pill https://aavegotchi.com/gotchi/1345 XP Reward: 20 XP for each Aavegotchi in voter’s wallet Discourse Thread: https://dao.aavegotchi.com/t/signal-proposal-additional-bazaar-fees-towards-rarity-farming/1387 Original Signal Proposal: https://snapshot.org/#/aavegotchi.eth/proposal/QmU4WLexfVT8sXz4XzHqDgXPFhFvK7wRSpBPjxUtktzdZe

All information below is taken from the original Signal Proposal, with slight modifications for clarity.

Proposal Information

Background:

With the announcement of SZN1 Rewards now official, we explore how to align the community’s interests and rewards structures, as it pertains to Baazaar fees.

Currently, 2% is allocated to Pixelcraft and 1% to DAO treasury. While not exclusive of providing for RF rewards, the treasury funds are currently in no obligation to be allocated in any form of ratio towards the RF pool each season.

Proposal:

Increase the Baazaar fees from 3% to 3.5%, with the additional 0.5% going directly to the Rarity Farming rewards pool.

Arguments

Although nobody likes an increase in fees, the resulting increase from 3 to 3.5% would not be too disruptive on a per transaction basis, while for reference it would have increased SZN 1 rewards by a very healthy 55,000 GHST approx. (As per figures shared by Coderdan). Competitors already charge higher fees as in 5% at NBA Top-Shot and 4.25% at Axie marketplace.

Benefits:

A major benefit is expanding the value proposition of Gotchies and Wearables, as proxies of participation into the efficient trading mechanism that is the Aavegotchi Bazaar on Polygon network. A virtuous cycle of economic growth and value is fostered in the ecosystem, where trading brings a larger pool of rewards, which increases the velocity of trading within the Baazaar.

Options:

• Yes, increase the fees from 3% to 3.5% to support Rarity Farming Player Rewards
• No, leave the fees as they are.

Required Quorum: 3.4M GHST (20% of all eligible GHST on Polygon) Required Vote Differential: 10% (only two options) Vote duration: 7 days

If this vote is passed with sufficient quorum, a contract upgrade will be deployed to increase the fee and begin directing said fee to the Rarity Farming Rewards Pool address, located at xxx.

Note: Only fees accrued AFTER the enacting of this vote will be redirected to Rarity Farming rewards. SZN1 of Rarity Farming rewards are already capped at 1.4M GHST. All future rewards will be earmarked for future Seasons!

Vote now! 👇