Welcome
Some time ago I received some feedback that the system is too complicated, so I would like to hear more opinions about what users prefer.
Market fees explained
When you use any Splinterlands market to list your cards for sale or rent, a 5% market fee will be charged if the transaction is successful.
This fee applies regardless of whether you use the built-in market or a third-party market such as monstercards.store, and it is automatically deducted from your revenue.
It is important to note that the market fee goes to the market that was used to buy or rent a card.
Why do we need a third-party market
Because competition is good for customers. The Splinterlands team can focus on more important things. Actually, it is great that they allow to create external markets for their ecosystem.
That's something that sets them apart.
Why do some markets have a payback system
For every project, the hardest part is to encourage users to use your product.
Splinterlands' built-in market is in the best position because... it is part of the game.
For the third-party market, the strongest one (for now 😁) is Peakmonster. They have a strong team and they are a part of a much larger ecosystem.
Then we have markets like MonsterMarket, Card Auctions, and Splex.gg which is enlisted on the top of Splinterlnads Card Sales. All of those markets are visible to all Splinterlands users.
And then we have other markets that have to fight for user attention like monstercards.store or https://layer2labs.io and others.
The space on the Splinterlands page is limited so we have to fight for user attention another way. So what can we offer? I can not compete in terms of a number of features with Peakmonster or Splinterlands because I don't have enough resources for that (time and money).
It seems to be only two fields that I can try to race: unique features and the Payback system.
Current Payback system
My idea was to introduce a unique system that no one else has. Long story short: when I get DEC from market fees I take 65% of DEC, convert that to SPS, and stake it.
Then every day my system distributes the revenue from SPS staking to the users according to their market share percentage. Occasionally I convert other assets like Vouchers. Also, Vruz cards sale revenue was reinvested.
I started from over 1800 private SPS staked and also I decided to increase each day's payout by 15 SPS for 100 days from the market start, but it turns out the user experience for such a system is bad.
Some users stated that they would rather prefer to get 65% of DEC right after they spend it.
The main issue is that, without a promotional payout, it will take probably over 2 years to benefit more from the SPS Payback system than the "hard DEC payout".
Question
The question is would you like me to reimplement the Payback system to return DEC right after the user buy or rent cards? Currently, I plan to increase the payback threshold to 75%.
That means if you buy or rent a card the effective fee would be only 1,25%:
example:
price:
$100
fee 5%: $100 * 0,05 = $5
payback 75%: $5 * 0,75 = $3,75
effective fee: $5 - $3,75 = $1,25