The results of the recent vote are in, and the Decentraland community has voted in favour of:
1) Introducing a 1% sales fee, payable on each LAND sale in the marketplace. The 1% MANA fee will be deducted from the total sale price, then burned and removed from circulation each time.
2) Removing the 8% inflation rate, which will now be set at 0%.
This article explains more about the possible effects of this result.
When will these changes take effect?
It is probably fair to assume that, as the current 8% inflation rate has not yet been fully implemented, the 0% rate will be effectively immediately, and there will be no further currency introduced.
It is still unclear when the 1% marketplace fee will become effective.
The Voting Format
In recent weeks there has been some debate as to whether the current voting format is ‘fair’. As it stands, each vote is currently weighted inline with the amount of MANA the voter holds e.g. a vote from a wallet holding 10,000 MANA, holds more voting power than a wallet with only 1,000.
Whilst there is a very real argument for allowing LAND owners more of a voice in the final outcome of voting, it appears that in this case, it would still not have affected the outcome.
If we cast MANA weighting aside, and look at the recent vote results from the perspective of 1 Wallet = 1 Equal Vote, then…
Only 13% of total votes were against removing inflation
Only 34% of total votes were against introducing a marketplace fee
This will undoubtedly have a huge effect on the future of the Decentraland economy, and it remains to be seen as to whether this result will be truly beneficial to the growth of Decentraland.
Finally, there are still important conversations to be had concerning the future voting format. If LAND owners wish to make a more solid case for change, and have more power in future polls, then they must take initiative and put forward some workable, alternative models, to the powers that be. Here is a good place to start: email@example.com
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