I wrote the following in the proposals category .According to the suggestion that the idea is only a brainstorming, so I rewrite it here.In my opinion, Yam Treasure System is creative but is too simple to be attractive and efficient . I write this to discuss that how can the yam treasure system be more attractive and make more sense/usage to the yam holders directly . I expect more discussion on the following
Treasure is a creative design in yam project. But it seems that the treasure system need to be modified.
First, the treasure can’t grow in a negative rebase. And it does little to improve yam from the negative rebase spirals
Second ，The treasure is less efficient in a positive rebase ,according to the data after yam v3 online . Because in a positive rebase treasure simply sell out all the yam immediately ,which make yam to a negative rebase quickly. So There is less time for the treasure accumulate more .
Here is some suggestions for modification:
- Modify the mechanic that selling yam.
Treasure should auction the yam after rebase ,instead of selling yam simply. The yam auctioned need be locked for some days. The holders buying yam from treasure have the options transferring twice the amount of yam from his wallet to a protect address, where the yam can’t be negative rebased ,when a negative rebase occurs .The yam transferred to the protect address also will be locked some days (30days/90days to be determined )
- The initial price for auction each time .
When in a positive rebase, the initial price can be set to the market price or little lower than the market price. When in a negative rebase, the price can be set at 1usd
- In a negative spirals ,how can the treasure accumulate.
First the treasure can buying yam from market ,Because it’s in a negative rebase,the treasure can buy yam from market at a price lower than 1usd.
Then the treasure auction the yam in 1 usd . The price gap will make the treasure grow in a negative rebase.
When in a negative rebase,some holders may want to avoid the negative rebase,they may join the auction. And holders want to join the auction must buy at least 100 yam from the market,which will make the yam price rising gradually.
the above idea will make treasure more attractive and efficiently help make the yam price to be stable at 1 usd.