Dears.
The DAO holds 15,000 unused Spice, and with the successful launch of the turtles by the Waves Ducks team, I believe it’s crucial to maintain the flow of Spice in the ecosystem. As of the writing of this proposal, according to data from duxplorer, 1,220 turtles have been incubated, with 391 turtles in farming, which have only farmed the minimal amount of 71.97 spice. (not so good)
The community responded with adoption, but the amount of spice used to grow baby ducks is negligible. Therefore, we propose using 5,000 Spice from the DAO to be donated to Granja Latina. So they can be used to grow baby ducks and breed them. This will result in 2,500 spice entering circulation for all turtle owners, both individual players and collective farms. It will increase the ecosystem’s transaction volume and bring a sense of good investment to our battered general Waves community.
We propose as a reward that 100% of the CEO Fee from Granja Latina be allocated to the buyback of the TEAM LATAM token from the market (since there’s a better deal in the opportunity market than direct investment) for a period of 6 months. It is in the DAO’s best interest to hold tokens from Collective Farms that earn steady interest and are tied to the price of EGG, rather than Spice, which can only depreciate over time.
Q&A
How was the figure of 5,000 Spice determined? Was it based on any projections or calculations?
R/ Granja Latina has 26 baby ducks that need to be raised, which amounts to about 2,000 Spice just to grow them into Genesis ducks. Then, we need 20 to 100 Spice to breed them, depending on their generation. We also have to consider that to expedite this process, we’ll need to purchase Vitamins from the market. We’re not requesting 100% of all the Spice because we believe we don’t need it
Will the 2,500 Spice entering circulation directly benefit the turtle owners or is it spread more broadly?*
R/ Remember that the turtle mechanism stipulates that 50% of all the Spice used is allocated as a staking reward for turtles while farming
What mechanisms are in place to ensure that the Spice donated to Granja Latina will be used specifically for growing and breeding baby ducks?
R/ Remember that collective farms have serious limitations. For instance, we couldn’t participate in the turtle incubation during the launch until several hours later when we were added to the whitelist. Therefore, the Spice cannot be sent to another user’s personal wallet. Also, Waves Ducks has its DAO mechanism in which members can vote to liquidate my farm if they believe I’ve misused resources
How will the success of this initiative be measured? Are there specific KPIs (Key Performance Indicators) in mind?
R/ The success of this proposal hinges on players receiving Spice from the farm’s activity in incubating baby ducks. Additionally, the APY of the farm will increase since more ducks will be farming EGG, benefiting the TEAM LATAM token holders. Since the DAO will receive those tokens, it will also benefit. Another crucial indicator is our ability to convert those 26 baby ducks currently in possession into a Genesis duck
What will happen to any Spice that isn't used within the proposed time frame?
R/ 100% of all the received Spice will be used. Nothing will be left, I assure you.
What's the rationale behind using the CEO Fee from Granja Latina specifically for the TEAM LATAM token buyback?
R/ We propose using the CEO Fee because it’s the only official asset that can be withdrawn from the farm since there’s a smart contract in place for that. After this, it can be sent to a wallet and used for trading on the market without restrictions. The CEO Fee accounts for 10% of all the EGG farmed by the collective farm. Since ducks will be incubated and set to farm, this 10% will increase significantly, raising the amount of EGG available for the buyback of TEAM LATAM
