Purchase of LAND in Genesis City This proposal is now in status: PASSED. Voting Results: * Yes 80% 6,184,287 VP (139 votes) * No 19% 1,511,563 VP (6 votes) * Abstain 1% 4,440 VP (11 votes)

Hi Existential, I have the utmost faith in our DAO Committee that they are astute enough to discern the right collection from which to purchase from in Opensea, as opposed to new investors coming in and having difficulties differentiating. The main goal of this purchase agreement is to get the best possible deal for the DAO, therefore including OS will give the committee more leeway to choose from both platforms, as opposed to limiting it to 1 and opening the possibility for entities to corner the market.

My one concern is including Opensea as a marketplace to purchase. I strongly feel that only the DCL marketplace should be the point of purchase. I have seen many people come through the Decentraland Discord and in the CBD discord talking of being scammed purchasing empty parcels on Opensea. Also considering we are Decentraland, why would our own marketplace be the place to purchase our own land?

Hey jar0d, thanks for your suggestion. I did consider that as a possibility, but using fiat can have both upside and down. If, for example MANA goes back down to 30 cents or under and stays there, the DAO will have to fork out more MANA if the purchase agreement is in FIAT terms, which is less than ideal. Using MANA will essentially guarantee the ability to forecast the expenditure from this purchase agreement without the 'exchange rate' risk. As an organisation, I believe that price stability/predictability is more important than speculation. It'll also reflect better on the DAO to price it's native LAND in our own currency than in FIAT.

[quote="3Point1Four, post:4, topic:19063"] The purchase will be in perpetuity until a governance proposal is launched to cease it. [/quote] or the floor for a single parcel is above 4,000 mana. Speaking of which, would it make more sense to have a USD-based cap, given the fact that 4k mana today is not the same as 4,000 mana when mana is $3 or higher.

Hey CheddarQueso, it should fall outside of the grants category for 3 reasons, 1. Grants typically have a deadline with which the grantees have to apply for renewal. 2. The ownership of the LANDs/ESTATEs will be with the DAO instead of a "grantee". 3. The purchase will be in perpetuity until a governance proposal is launched to cease it. The DAO committee will be in charge of deciding which LANDs to buy, as well as the execution. Parameters mentioned under the section "Specification" are in place to enforce the purchase process so that any ambiguity is minimised. As to which wallet should the LAND be sent to, i'd suggest it be consolidated along with the roads we own, but the decision should also lie with the DAO committee.

Hey @3Point1Four thanks for putting this together. Just a couple of questions. Will this fall under the grants category or is there another budget category outside of grants that would fund this proposal? I may have missed this part, please forgive me... who will be in charge of deciding which lands to buy and executing the transactions? Thank you.

Side notes as a reference. **Specification** Under point (2), the budget of 40k MANA represents 3.5% of the DAO's quarterly budget Formula is as follows: 40k x 3 months = 120k MANA 120k x $0.66(as of 18/4/23) = $79.2k 79.2k / $2.23m(total quarterly budget as indicated on the Grants tab) = 0.0355 which is 3.5% Under point (3), the rationale of choosing evenly sized plots vs odd shaped ones is to ensure that potential users/ tenants of the plots do not experience the difficulty of adjusting their builds to fit. Under point (4), the day of purchase has been published to remove any doubts of 'timing the market', whilst giving the DAO committee sufficient time within said day to execute the purchase. Under point (5), only MANA is to be used as this removes any risk of price fluctuation in FIAT terms, and also removes the need to convert MANA to ETH to make purchases.