Summary
Adjusting auction dates is something we should look to experiment with over the next few months. This proposal puts forward a simple adjusted timeline to our weekly rounds.
Background
Currently, Botto sells one artwork per week on SuperRare, with auctions technically taking place at the beginning of a new round. Existing auctions span between Friday 20:00UTC and Sunday 20:00UTC, offering a decent overlap between three major timezones (PDT, EDT, and CEST). While we have consistently seen bids come in throughout the first 6 months of Botto’s genesis period, we have seen a recent lull in the quantity of bidders appearing throughout Friday to Sunday.
We should look to experiment with our weekly round and auction timeline.
Rationale
This proposal simply seeks to:
- Address community calls to experiment with a new auction timeline
- Expose Botto to new audiences on the same auction platform (SuperRare)
- Expose Botto to a new bidding audience
The difference in daily cumulative bids (average throughout the week) seems negligible based on available 2021 SuperRare data. This data indicates that Mondays and Saturdays are least popular days (253 and 242 cumulative bids on average, respectively), with Wednesdays through Fridays being the most popular days (299, 267, 268).
Proposal Specification
- Schedule the live leaderboard to begin on Mondays 20:00 UTC / 16:00 EDT / 13:00 PDT
- Set rounds to end on Tuesdays 20:00 UTC / 16:00 EDT / 13:00 PDT
- Schedule new fragments to be added to the voting pool on Tuesdays 20:00 UTC / 16:00 EDT / 13:00 PDT
- Move auction starting day and time to Wednesdays 20:00 UTC / 16:00 EDT / 13:00 PDT
- Move auction end day and time to Fridays 20:00 UTC / 16:00 EDT / 13:00 PDT
- Continue to schedule buyback and burns within 24 hours of the auction closing.
Round 25 is scheduled to begin on Thursday, 7 April at 20:00UTC. Specific to Round 25, the round has an artificially short timespan spanning 5 days.
Quasimondo has confimed that this proposed change will not deter the quality of fragments appearing in Round 26 nor is this a technical hurdle.
For clarification, highlighting upcoming round dates if this proposal were to be implemented:
Round 24: Thursday 31 March 20:00 UTC / 16:00 EDT / 13:00 PDT
Round 25: Thursday 7 April 20:00 UTC / 16:00 EDT / 13:00 PDT
Round 26: Tuesday 12 April 20:00 UTC / 16:00 EDT / 13:00 PDT
The auction date for Round 25 would take place on Wednesday 13 April, 20:00 UTC / 16:00 EDT / 13:00 PDT. Please note that the first round is labelled as Round 0.
Budget (If applicable)
The proposal requires no additional budget and has minimal drawback to developer schedules.
Criteria of success
We can measure the impact of this change over a period of eight weeks, monitoring the quantity of bids. Indirect measures of success include an increase in token stakers (and/or holders) due to a potential influx of new project participants.
Disadvantages
- A shorter Round 25 (5 days)
- Disrupting an existing community routine (when to vote, when to boost, etc.) due to the changed round timeline.
- Minor developer disruption to roadmap (impact negligible)
*Edit updated round numbers for clarification
