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We are putting forth a proposal to a vote of the staked SPS token holders for the DAO to hire Steem Monsters Corp. (the company behind Splinterlands) to develop, distribute, and operate the Rebellion card set through the Splinterlands game platform.
For this, Steem Monsters Corp. is requesting an upfront payment of $250,000 in BUSD, USDC, and/or USDT stablecoins as well as a 50% revenue share for all pack sales over the life of the set. Please note that this only includes sales of newly minted packs and not any secondary market sales.
Steem Monsters Corp. will develop the new set of cards including all artwork, design, development, etc., and will manage the sale of the card packs through the Splinterlands website and game platform. All pack sales will be conducted using DEC tokens which will be delivered directly to the @sps.dao account. The DAO will then pay half of the DEC received from the pack sales to Splinterlands for the 50% revenue share no later than 30 days from when it was received.
Please note that Splinterlands will also allow the purchase of packs using Credits, in which case the Splinterlands company will purchase the packs on behalf of the player using its DEC tokens, just like how market purchases work when using Credits.
Steem Monsters Corp. will have complete control and discretion over all facets of the card edition and the sale, including, but not limited to, timing, pricing, incentives, design, etc. While the full details of the Rebellion set and the sale are still TBD, we are planning for the set to contain a similar number of cards as Chaos Legion, and to have a similar sale structure including similar pricing and a presale phase with similar incentives.
We plan to implement a burning mechanism for the packs upfront which will ensure that the packs sell out within roughly 1 year, and will ultimately let the market decide how many packs there will be in total. We believe that this works much better than choosing a specific number of packs based on a guess of how much demand there will be over the next year.
We are also planning on implementing some exciting new game mechanics, above and beyond the typical new abilities, that we expect will increase the level of fun and engagement of Splinterlands battles and therefore also provide significant additional utility to the Rebellion cards. We expect the full details about the set and the sale to be announced in early October, with the presale starting soon afterwards.
We believe that this is a no-brainer for the DAO as the 50% of revenue the DAO will take in from pack sales over the next year should far exceed the $250k upfront payment. It will also allow the DAO to take in potentially billions of DEC tokens, which will take them out of circulation. This should significantly help bring the DEC price up to the level at which it can become profitable to burn SPS to mint DEC tokens, which will provide a huge benefit to the DAO as the largest SPS token holder.
If this proposal does not get passed, then Steem Monsters Corp. will still go ahead with the release of the Rebellion set as planned and will retain 100% of the pack sale proceeds and will not receive any upfront payment from the DAO.
As a reminder, you can see the funds that the DAO has available in the most recent DAO Treasury Report.