tldr

This proposal updates two parameters in the Lil VRGDA contract:

1. Reduce the reserve price from 0.03 ETH to 0.005 ETH
2. Increase the update interval from 15 minutes to 2.5 hours

The goal is to make Lil minting more accessible during low-demand periods while making rapid, repeated buying less efficient.

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Proposed Changes

Reserve Price

• Current: 0.03 ETH
• Proposed: 0.005 ETH

This lowers the minimum possible mint price by 6x, allowing the market to reach a more accessible floor when demand is low.

Update Interval

• Current: 900 seconds / 15 minutes
• Proposed: 9000 seconds / 2.5 hours

This changes how often the contract updates the available mint price.

Why This Matters

The current configuration creates two issues:

• The reserve price can remain too high during low-demand periods
• The price updates frequently enough that buyers can more easily chain purchases as the price adjusts downward

This proposal addresses both issues at once.

Lowering the reserve price improves accessibility for casual participants and new buyers.

Increasing the update interval makes price drops happen in larger, less frequent steps, rather than small updates every 15 minutes. This means that after a purchase pushes the price up, that higher price remains for longer before the next update.

The result is a system that is more accessible at the low end, but less efficient for rapid accumulation.

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How the VRGDA Price Works

The Lil VRGDA is designed around three core mechanics:

• Each purchase pushes the price up
• Time without purchases pulls the price down
• The system targets roughly 1 Lil per day

Because of the current VRGDA parameters:

• Each purchase increases the price by about 1.25x
• Each day without a purchase decreases the price by about 20%
• Roughly speaking, 1 purchase takes about 1 day to fully unwind back toward the reserve price

This proposal does not change that underlying relationship. Instead, it changes how frequently the price updates for buyers.

Practical Effect

Under the Current 15-Minute Interval

After a purchase:

• Price rises immediately
• Price begins updating downward in small steps every 15 minutes
• Buyers can react to frequent price changes

Under the Proposed 2.5-Hour Interval

After a purchase:

• Price rises immediately
• The elevated price remains in place longer
• Price drops happen less often, but in larger steps
• Buyers must either pay more or wait longer between efficient purchases

This does not create a hard cap or restriction on buying. It just makes rapid sequential buying less efficient.

Expected Outcomes

For Casual Participants

• Lower minimum entry price
• More accessible mints during low demand
• Better opportunity to participate at the floor

For Aggressive Buyers

• Less benefit from frequent repricing
• More cost or waiting required to accumulate quickly

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Transactions

Action 1: Set Reserve Price

• Contract: `0xA2587b1e2626904c8575640512b987Bd3d3B592D`
• Function: `setReservePrice(uint256)`
• Argument: `5000000000000000`
• ETH Value: `0`

Action 2: Set Update Interval

• Contract: `0xA2587b1e2626904c8575640512b987Bd3d3B592D`
• Function: `setUpdateInterval(uint256)`
• Argument: `9000`
• ETH Value: `0`

Closing

This proposal is a targeted adjustment to Lil VRGDA behavior that lowers the barrier to entry while making rapid accumulation less efficient. The core VRGDA pricing logic remains unchanged, but the system becomes more accessible during low demand and more inefficient for quick, repeated buying.