I propose instituting a minimum requirement of 100 MANA for all TOWN token auctions within Exodus Town. If this threshold is not met within the initial 24-hour auction window, the auction period will automatically extend until the minimum requirement is fulfilled. This measure is intended to ensure a baseline value for each land parcel and to stimulate active participation in the auction process.

Details:

• Every TOWN token auction conducted within Exodus Town will necessitate a minimum bid of 100 MANA to be considered valid.
• Should the minimum bid of 100 MANA not be attained during the initial 24-hour auction period, the auction will automatically prolong for an additional 24-hour period.
• This extension mechanism will persist until the 100 MANA threshold is reached or until a predetermined maximum auction duration is reached (e.g., one week).

Justification:

• By establishing a minimum MANA requirement, we can ensure that each land parcel within Exodus Town maintains a minimum intrinsic value, which benefits existing TOWN token holders and cultivates a robust economic ecosystem.
• Extending the auction period in the event of the minimum not being met affords participants more time to gather the requisite funds, potentially bolstering auction participation and fostering healthy competition.

Implementation:

• Implementing this proposal will necessitate modifications to the auction code within Exodus Town, incorporating functionality to verify the minimum MANA threshold and facilitate automatic auction extensions.
• A vote will be conducted within the Exodus Town DAO to ratify this proposal. Upon approval, implementation tasks will be carried out by the development team.

Potential Impact:

• This initiative is poised to enhance stability and value within the Exodus Town economy by establishing a minimum valuation for each land parcel.
• By affording additional time for participation in auctions, this proposal aims to stimulate heightened engagement and competitiveness among community members.