Some three days ago, the Splinterlands DHF proposal received the vote of @theycallmedan which propelled it well above the return proposal threshold.
The proposal was briefly approved shortly after becoming active, but then an entire drama started and that led to the RP threshold being significantly increased and the Splinterlands DHF proposal being kept in check, at a "safe distance" from being approved.
About 10 days ago we found out publicly that negotiations have been carried out to unblock the situation. Those negotiations led to a SPS DAO proposal that proposed a tradeoff. Unblock the DHF proposal to the Splinterlands team for marketing, against a significant investment of the SPS DAO in the Hive blockchain (situation at the time is almost no investment), plus other conditions.
The draft of the SPS DAO proposal was supported by more than 90% of the voting stake, and there was a significant participation to that vote... And yet, the Splinterlands DHF proposal remained unfunded, because the deal was to wait until this proposal passed (meaning a full 14 days). With each passing day, that meant less funding to the Splinterlands DHF proposal. And it's not small change, since it's 2777 dollars a day. In 10 days that's $27,770. Plus already around $70k missing by not being approved so far. But Hive stakeholders have the right to adjust the amount being asked if they consider it's too much, by dropping a proposal's funding temporarily. At the same time, the receiver of the funds should know what they can count on, so they can make some plans. So, too many switching between funding and non-funding is probably a bad idea for most proposals.
A few hours before the draft SPS DAO proposal was about to be approved (which it was), @theycallmedan voted on the Splinterlands DHF proposal, which pushed it into the funding zone:
The draft SPS DAO proposal was approved, and now the full proposal it's up to the stakeholders vote again. Nothing significant changed regarding support for it since the draft phase, it's still above 90%.
For people who don't know, proposals on SPS DAO have two phases:
- the draft phase, lasting 7 days, where it needs at least 5% of total SPS stake voting either for or against it to advance to a full proposal; during this phase, the proposal text can still be changed by the author (according to feedback or however they want to)
- the full proposal phase, lasting another 7 days, where conditions for approval and becoming effective are: 2/3 approval + 10% of total SPS stake voting
Note: one has to burn 100k DEC (68-69 USD, at current prices of DEC) to make a SPS DAO proposal. Sometimes they are sponsored by others or by the DAO itself.
So, currently, the Splinterlands DHF proposal is approved, having a support of around 35.5m HP, with the return proposal at around 32m HP.
The SPS DAO proposal which states, among others that the SPS DAO will [likely buy, since it doesn't own and] stake 1 million HIVE for at least 2 years, and that it would move 130k of stables into HBD, via HIVE conversion, still has 5 days until the end of the voting window. However, it has 94% approval, at a high participation (over 200m staked SPS), and to me, this decision seems already taken, even though, theoretically, like on Hive, voters can change their minds while the proposal is active. But so can those on Hive, so I highly doubt this will happen.
As a Hive and Splinterlands asset holder, I like this arrangement, although it may not be perfect. But the situation as it is is far from perfect. So, sometimes we have to take what is being offered and do better next time.
